Bitcoinist.net:

ethereum loan DeFi

Decentralized finance has grown faster than any other sector in the crypto industry over the past year. Media coverage is also growing but Ethereum co-founder Vitalik Buterin thinks some of the terminology is cringe worthy.

Loans With No Paperwork
A recent article in tech outlet Mashable has gained a lot of attention over the past day or so. Not because it explains how easily decentralized finance works, but because it implies that ‘loans’ can be taken out with zero paperwork or verification.
The article titled ‘I took out a loan with cryptocurrency and didn’t sign a thing’ explains how DeFi works and how simple it is to setup and invest in, or borrow from. It opens up with;
“Last week, I took out a loan without meeting anyone, signing anything, or even interacting with a human being,”
This implies that DeFi is a source…

Click to continue reading on its source location…

Source: https://bitcoinist.com/why-ethereum-co-founder-vitalik-labels-defi-loans-cringe-worthy/