Decentralized finance is becoming one of the crypto buzzwords of 2019. Beyond the hype, the DeFi movement offers up some intriguing potential. It aims to create a truly decentralized financial system, one which doesn’t need the traditional banking system. A system more closely aligned to the original intentions of Bitcoin’s elusive creator than anything we’ve seen before. So what is decentralized finance, and what does it mean for the future of crypto?
Satoshi’s Vision (Not the Bitcoin Cash one)
Before we get started, in light of recent news, let’s take a second to disambiguate the term “Satoshi’s Vision.” Long before Craig Wright reignited his war with practically the entire cryptoverse by sending cease-and-desist letters to anyone who dared to question the authenticity of his “I am Satoshi” claims, the actual Satoshi (as in, the one we know invented Bitcoin) had a simple vision. It was nothing to do with Bitcoin Cash hard forks, and it’s stated right there in the first line of the Bitcoin white paper: