Let's get an overview of DeFi
DeFi is arguably the most advanced area of blockchain use.
The classification includes not only stablecoins but also DEX (Decentralized Exchange), Custody, and Insurance.
Basically, these are services that already exist in society, but without a specific administrator.
Thus, it is literally called "Decentralized Finance".
Whether DeFi is superior to existing financial services is still questionable.
However, a society in which DeFi has penetrated to the average consumer will undoubtedly be more convenient than today.
With globally accepted currencies, fees will be close to zero, and money can be transferred 24 hours a day from anywhere.
There are no restrictions on the use of services based on age or upbringing, and personal privacy is not compromised.
It is expected that blockchain will continue to be deployed in other industries, especially in the financial domain.
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The Future of Stablecoins
To conclude the MakerDAO curriculum, let's consider the future of stablecoins, including Dai.
Because the stablecoin is a globally unified currency, a great many projects have entered the market.
Although stablecoins are expected to become popular, there are still many problems to be solved.
Complete decentralization is difficult
A certain number of administrators are needed to run financial services, not just for stablecoins.
This is because there are many unexpected and emergency situations that need to be handled in the financial domain.
In Dai, the MKR holders, mainly the MakerDAO, basically manage the system.
Decentralization is the eternal theme of blockchain, and various approaches will continue to emerge to make it as close to decentralized as possible.
Susceptibility to collateral assets
In the case of cryptocurrencies like Dai, there is a concern that the price of the underlying cryptocurrency may be affected by the price fluctuations of the underlying cryptocurrency.
It seems that there is still room for updates to the stability of stablecoins.
Fewer ways to use them
This is not limited to stablecoins, but cryptocurrencies have very few uses.
As a result, they have not been able to exceed the demand as investment targets and have not been able to generate real demand.
Even Bitcoin, the ancestor of cryptocurrencies, is only being used as a means of payment by a few stores, so it must be said that the future of stablecoin adoption is far off.
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