Why did I read this book?
I had a killer milestone. Through my help we have shaved off over 25 years off prison sentences to date.
One of the gentlemen I helped is in here for Bank/Check Fraud. He is super big into Crypto. We have
had some interesting conversations on the subject. Although I am certain I know more than the average
person this area is still super confusing. He gave me this book as a way of saying thank you for the help.
What is this book about?
Decentralized finance is currently one of the blockchain and cryptocurrency spaces fastest growing
sectors. Defi has grown rapidly in the last few years, but materials to help people understand the
concept have lagged behind. Defi is a network of Decentralized applications (DAPPS) that offer financial
services via disparate networks without the need for a central authority. In other words, there is no
central command center. The focus of this book is on the Ethereum blockchain.
Here is a brief look at what Defi enables us to do:
Transparency: A financial environment that is transparent and auditable
Accessibility: Unrestricted access to Defi apps without fear of discrimination
Efficient: Programmable money allows for the elimination of centralized middlemen, resulting in a more
economical and efficient financial market.
Convenience: For a modest price and with little waiting time, money may now be transmitted anywhere,
at any time, and to anybody who has access to cryptocurrency wallet
All of those mentioned above have enabled users to accomplish the following: supply liquidly to earn
yields on unproductive assets with no maturation/lock in period, obtain loans (with collateral) without
paperwork and repay them whenever they want (sounds too good to be true), and quickly execute
automated trading methods. The best part is that all of the above may be accessible to anybody as long
as you have an internet connection. The markets valuation climbed from 700 million to 58 billion.
Decentralized finance has the potential to bring our markets closer together than ever before, to
eliminate needless middlemen, to provide significant cost efficiencies, and to open access to populations
that have previously been underserved.
What I learned after reading this book?
Wow…This book was pretty confusing….and it is obviously a love story to Defi. Although I am more of a
fan of Crypto than others, I will admit nobody has yet to explain it in terms most of us can understand.
While reading this book I kept thinking about how much money I have wasted on excess. My gameplan
moving forward will be to focus on investing/acquiring real estate…and being more frugal. I had some
fun playing in Crypto but I feel like it deserves only a small portion of your investing equity. I want to
believe but yet I am still wary.