Decentralized finance(Defi) has increased view in past days, it has the aim of radically transforming finance with trustless networks which can't do with traditional financial intermediaries. DeFi promises to provide a world of open source, globally accessible financial services, from peer-to-peer loans and trading to savings and insurance.
Coinjoker - Decentralized Finance (DeFi) Development Company company offers DeFi applications which is a financial software, which is built on the blockchain. We offer Decentralized Finance as a solutions that offers different ways to develop and build financial tools and services for your busineess and it being decentralized and with an ability to modify when needed.
Coinjoker DeFi Development services and solutions includes:
We are creating decentralized finance (DeFi) services and solutions in secure and easier way with blockchain technology, DApp development, Smart contract implementation on various Blokckchain Platforms like Ethereum, ETH, Tron, EOS, Tezos, Cosmos, HyperLedger, Stellar and So on.
Lets this article entirely illustrates everything you need to know about DeFi platform development:
⦁ Why defi important for business,
⦁ Traditional Finance Vs Decentralized Finance
⦁ Features of Decentralized Finance
⦁ Benefits of Decentralize applications development
⦁ Potential Usecases of DeFi
⦁ What coinjoker offers in DeFi Software development
Why DeFi Services and Solutions is Important for Businesses?
From the start, DeFi seems to be promising. It can change many lives and help employ an infrastructure that doesn’t require a centralized approach.
DApps enable the financial institutes to create functional apps on the public blockchain and ensure that anyone can interact with them with minimal cost per interaction.
DeFi seeks to revolutionize the traditional financial sector by acting as an alternative to centrally-governed institutions, such as banks, that have historically acted as financial intermediaries.
Traditional Finance Vs Decentralized Finance
With Decentralized Finance DeFi, it will be possible to cut the cost associated with sending money by 50% and more. By using DeFi, anyone working overseas will not have to worry about sending payments across borders.
Traditional financial systems work with centralization, and it brings inefficiency and insecurity. The security risks are persistent in the current traditional financial system. Most of the transactions are at risk of getting hacked. All of these bring in both financial and data risks.
DeFi, on the other hand, ensures that the issues are fixed to a certain extent.DeFi uses a public blockchain, which means that it doesn’t rely on a centralized system or entity.Public blockchains can be used effectively to replace the traditional financial system and make them transparent, decentralized, and permissionless.
Coinjoker DeFi Development Services includes Features like:
There are six primary features that differentiate public blockchains from the private networks used by governments and traditional financial institutions:
Permissionless: Anyone in the world can connect to the network
Decentralized: Records are kept simultaneously across thousands of computers
Trustless: A central party isn’t required to ensure transactions are valid
Transparent: All transactions are publicly auditable
Censorship Resistant: A central party cannot invalidate user transactions
Programmable: Developers can program business logic into low-cost financial services
Benefits of implementing DeFi applications development
1. Wider Global Access to Financial Services
With decentralized finance, anyone with an internet connection and a smartphone could access financial services. There are a variety of barriers that prevent access in the current system:
Status: Lack of citizenship, documentation, credentials, etc.
Wealth: High entry-level funds required to access financial services
Location: Vast distance from functioning economies and financial service providers
In a decentralized financial system, a top trader at a financial firm would have the same level of access as a farmer in a remote region of India.
2. Affordable Cross-Border Payments
Decentralized finance removes costly intermediaries to make remittance services more affordable for the global population.
In the current system, it’s prohibitively expensive for people to send money across borders: the average global remittance fee is 7%. Through decentralized financial services, remittance fees could be below 3%.
3. Improved Privacy and Security
In decentralized finance, users have custody of their wealth and can transact securely without validation from a central party. Meanwhile, in the current system, custodial institutions put people’s wealth and information at risk if they fail to secure it.
4. Censorship-Resistant Transactions
In a decentralized financial system, transactions are immutable and blockchains can’t be shut off by central institutions like governments, central banks, or big corporations.
In places with poor governance and authoritarianism, users can divest to the decentralized financial system to protect their wealth.
5. Simple Use
Plug and play apps will allow people to intuitively use decentralized financial services without the complexity of the centralized system.
With a decentralized system, a woman in the Philippines could receive a loan from the U.S., invest in a business in Colombia, and then pay off her debt and purchase a home – all through interoperable apps.
Decentralized Finance (DeFi) Solutions and Services For Various Verticals:
DeFi platforms or applications can be used to create blockchain-based protocols that allow individuals to have wallets via which they can make instant and cheaper payments.
ii. Borrowing and Lending
DeFi enables open lending structures that have numerous advantages over the traditional borrowing and lending system like Ultrafast transaction settlements , Ability to back up digital assets with real-life assets.
Stable coins thus provide the stability associated with fiat currencies while maintaining the benefits of cryptocurrency such as security, fast processing speeds, and overall efficiency.
This is the process of digitizing a real-world asset to increase its liquidity in the marketplace. Tokenization creates asset-backed tokens – which are digital tokens backed by real-world assets.
v. Decentralized Exchanges (DExes)
Decentralized exchanges are platforms where users can exchange digital assets without relying on a third party, as in a centralized exchange. Instead, trades occur between parties in a P2P, automated process.
vi. Issuance Platforms
An issuance platform is a service that allows people to tokenize their assets by providing them with the tools to create digital tokens. An issuance platform provides the necessary technical and legal infrastructure to ensure a seamless tokenizing process for users.
vii. Open Marketplaces
With open marketplaces, DeFi reimagines the age-old idea of a marketplace by turning it into a decentralized platform where people can exchange things of value.
viii Prediction Markets
A prediction market is a group of participants who speculate on the outcome of future events – from elections to games to weather to natural disasters to commodity prices to major political events.
What Coinjoker offers in DeFi Software development?
We offer end-end DeFi Development Services and Solutions to your various businesses !!
Coinjoker is pioneer in Blockchain, Smart Contracts and DApp development company. Coinjoker has extended its Blockchain expertise to Decentralized Finance(DeFi) services and solutions. Coinjoker helps you build decentralized applications (dApps and Smart Contracts) for various financial services in Open Finance. Coinjoker -We are a company have 6+ years experience that has been making decentralized programs more adaptable for every business across the world with satisfied clients and get valuable feedbacks.
Our DeFi Development Serives and Solutions Includes :
⦁ Absence of Intermediaries or Arbitrators
⦁ Less Complex and More Secure
⦁ Frictionless at Reduced Costs
⦁ Eliminates Absence of Failure
⦁ Decentralized Borrowing and Lending
⦁ Monetary Banking Services
⦁ Decentralized Market Places