DeFi vs. Fintech
We believe DeFi represents the first time in human history that we have permissionless innovation in finance on a global scale. The reason for this is that DeFi is purely software based. Open source software that is shared, copied, built on and iterated on until a product market fit is found. By being built with just software, it’s global and accessible to anyone with an internet connection. Through cryptoeconomics, DeFi protocols can share its economics with its users — a powerful incentive to bootstrap a community.
In just the last few months we have seen a cambrian explosion in innovation and experimentation taking place in DeFi. It’s a privilege to have a front row seat to this sea of innovation and to do our bit to help push the space forward by being an active participant in these new networks.