What is DeFi, and could it upend finance as we know it?

Рет қаралды 107,253

Күн бұрын

The crypto industry wants to upend the giants of finance. And they have a word for their revolution: "DeFi."
After a litany of crises and scandals in traditional finance, legions of computer programmers decided to throw their hat into the ring, creating new infrastructure that took banks and other institutions out of the equation. Anyone with a computer and an internet connection could launch their own software for things like lending, trading or insurance.
But that lower barrier to entry opened the space to bad actors who wanted to swindle people out of their money. The industry’s rapid pace of development also led to bugs and programming gaffes, making it an easy target for cyber-savvy criminals. In 2021, more than $12 billion was lost to thieves and scammers exploiting DeFi protocols.
Now, after a plunge in crypto prices, and the demise of multibillion-dollar projects like Terra, regulators and law enforcement are paying more attention, zeroing in on the hackers and grifters making operating in the nascent industry.
Watch the video to learn more about DeFi, how it works, and what’s next for the industry as regulators seek to clean it up.
#CNBC #DeFi #Blockchain #Crypto #Finance
-----
Subscribe: cnb.cx/2wuoARM
CNBC International TV: cnb.cx/2NGytpz
Facebook:
/ cnbcinternational
Instagram:
/ cnbcinternational
Twitter:
/ cnbci

Пікірлер: 102

@bakerkawesa Жыл бұрын

A lot of people are going to lose money before things get better in DeFi. It is the wild west. That said, I have high hopes for smart contracts.

@heysourin Жыл бұрын

Collateral damage!

@omega3fatass61 Жыл бұрын

absolutely

@JogBird Жыл бұрын

im impressed that the presenter wore the same shirt, even though it obvious took many days to shoot this

@CNBCi Жыл бұрын

Continuity is everything.

@hunterhealer8022 Жыл бұрын

@@CNBCi just like a blockchain

@johnpinheiro6211 Жыл бұрын

Love it,from Portugal 🇵🇹🇵🇹🇵🇹

@Pastorallenigma Жыл бұрын

Joke’s on you: he bought 5 of the same shirt.

@CNBCi Жыл бұрын

@@Pastorallenigma 😄

@SuperFireburger Жыл бұрын

The fact that the DeFi community has made it to a CNBC video is a sign of the times. let's see how things playo ut amidst the 2023 recession.

@dhairya4598 Жыл бұрын

DeFi is a mere current sensation, 10 years down the line, it’ll cease to exist,atleast the way we know it. No government will allow this.

@lovepreetsingh1516 Жыл бұрын

I see RED

@SuperFireburger Жыл бұрын

@AggressiveProgressive lmao, help me, i'm thirsty.

@leejr9526 Жыл бұрын

The current crop of DeFi projects have done their bit in spreading awareness about DeFi. I'm more interested in the new startups coming in. They're the ones with the real potential upend finance as we know it. I'm particularly into TakePile Protocol. One of the new projects with real utility. Eager to see how far they'll go over the next few months

@trevordaniels8929 Жыл бұрын

Look into ArkFi great protocol

@anonymousanonymous4690 Жыл бұрын

If a video or articles title is a question it’s almost always “no”

@everyTING02 Жыл бұрын

Appreciating way of presenting. 👍👍👍👍

@user-yu6sc6ty6s Жыл бұрын

AAVE is the future

@yonatanbadash Жыл бұрын

I have to say this video is on point i am extremely involved in the web3.0 world and i have to say i didn't except this video to be so good so congrats 🙌 👏

@BitcoinAndCryptoCurrency Жыл бұрын

simple and informative thanks

@jamesfranqui2660 Жыл бұрын

Is not like criminals aren't attracted to the US Dollar or Euro or GBP.

@Misaka-gt5yj Жыл бұрын

Oh they are certainly attracted to USD, Euro or GBP. Ever heard of politicians? Measure #5: "centralization of credit in the hands of the state, by means of national bank with State capital and exclusive monopoly"

@ATTITUDE_BOYZ_7 Жыл бұрын

Here from Kashmir India

@victoridem393 7 ай бұрын

Wow! Such a great video sir, this video has put me through on how to make money on DEFI and I appreciate that. I have actually been getting along with reef chain and this video has made me know much about defi. Reef Chain is an EVM compatible blockchain for DeFi, NFTs and Gaming.. Thanks ones again for the great video sir

@klankie1 Жыл бұрын

settlement of transactions in defi could be done quick and cheap with xrp, like the flare network (defi)

@rudygunawan1530 Жыл бұрын

Have been read about this blockchain, much as eliminating real money, it won't work unless you can convince all stakeholders in economic to use the same payment method. In my country Indonesia, the bank industry said they will get rid of printed money, but think about how the poor people economic working, they don't have any bank account, circulated money is just below 1 USD per day, they don't know internet, don''t have smartphone or just phone, are we going to leave them back to barter system? How about the whole world?

@Will88ks Жыл бұрын

Finance needs to be centralized to be efficient. Especially with regards to inflation of course. The fact that the Fed was so criticized for acting too late to refrain inflation proves how important centralization is in a monetary system...

@f.r.2275 Жыл бұрын

Centralisation and efficiency in the same sentence?

@noise917 Жыл бұрын

Lol not the tumbleweeds rolling by at 4:31 😂

@wantstocomment7092 Жыл бұрын

decent, balanced piece. gj mate

@alparslankorkmaz2964 Жыл бұрын

Nice video

@nobody-789 Жыл бұрын

I thought of getting into blockchain and Defi but there is something that concern me. One, there is risk in the network used for Defi transaction, the data though encrypted but can be stolen. Second no liability or responsibility in event something goes wrong. Thirdly there is a gas amount you have to pay for a transaction and it's not standard but rather fluctuate with how busy the network is. Finally crypto mining uses lots of energy. A centralised system could function properly with less energy than that.

@syfodias-jedimaster Жыл бұрын

Pos>Pow

@dhairya4598 Жыл бұрын

People,5 years ago also believed that crypto will end stock trading and sovereign currencies, they’re nowhere to be seen

@AntInvesting01 Жыл бұрын

it will be great if you put this video or audio to Spotify for a audio

@danlane9917 Жыл бұрын

REN never hacked, still going strong!

@BitcoinAndCryptoCurrency Жыл бұрын

I liked it, thanks

@wwesuhaibbarakat Жыл бұрын

Sohaib Barakat from Egypt

@timtimtimmay4654 Жыл бұрын

The one thing the government hates most is competition. Expect strange hack attacks that get blamed on other countries that have fallen out of favor, lost data and money, and the government to step in with their CBDC, which is supposed to go live next year. They will be quick to cause the problem, blame it on others, and offer...I mean mandate...the solution while ensuring everyone it is for "safety", much like other recent "crises".

@YasukeNakamoto Жыл бұрын

Well well well. . . FTX has entered the chat

@timtimtimmay4654 Жыл бұрын

@@YasukeNakamoto Funny how things age so quickly

@MilesArray 10 ай бұрын

The video is amazing! Apart from defi LSDefi, on the other hand, is taking the world by storm, and Ethena is one of the new projects working on it. The USDe stable coin is being introduced. What are your thoughts on this?

@endoetz Жыл бұрын

DeFi, Decentralized Finance.. and there's DeRob, Decentralized Robbery.. (Nomad Bridge)

@mattmax949 Жыл бұрын

DeFi protocols are garnering traction in the world's economy as such I did a lil research and discovered this Gem "Gearbox" it is a generalized leverage protocol that allows user to take leverage in one place and then use it across various DeFi protocols and platforms in a composable and flexible way.. This Gem is listed on CEX like MEXC

@user-oi3yb7mm7h Жыл бұрын

Keeping other people’s flaws in mind is like keeping a bowl of foul-smelling food they have given you; it contaminates your heart, leaving no room for positive thoughts.

@Marxistsrcnts Жыл бұрын

I bought a coffee and bacon eggg roll today from my cafe. It was $11.00. But I did tap and go with my debit card. The actualy bank chrage was 0.13 cents. So $11.13. These bank charges are no different from the gas fees of a block chain. But instead of going to the banks bottom line they go to the developers maintaining the chain and nodes and security. Eventually, when DEFI and Smart Contracts become fully emeshed. What wil happen is when I tap my crypto debit card. The $11.13 will still be deducted. But under the crypto hood, the smart contract will autimatically pay the suppliers of the goods for the cafe, the wages, the rent, the mortgage, the insurance and so on. All with their own littel gas fee. But never tonce touching the grubby greedy hands of a centralised banking system.

@BitcoinAndCryptoCurrency 2 ай бұрын

new money explained quickly

@Dfm_Sushil Жыл бұрын

Should I worry because I have only two stock and both are banks stock.

@thesmartsolution2066 Жыл бұрын

Yes DeFi Make Everybody Happy

@BitcoinAndCryptoCurrency Жыл бұрын

this is the money of the future

@Dsexh_dsexh Жыл бұрын

What happens to the blockchain if another x-class solar flare strikes the earth?

@samsonsoturian6013 9 ай бұрын

I'm surprised they haven't removed this video yet

@gutzz12 Жыл бұрын

👍👍❤❤👌👌

@BitcoinAndCryptoCurrency Жыл бұрын

my questions have been answered

@Takeitlightly6 Жыл бұрын

Great to see kids being anchors and reporters today instead of playing with their PlayStation and in the ground.

@maxb5957 Жыл бұрын

Max was here

@miningspec Жыл бұрын

Verus DeFi

@reytogonon8806 Жыл бұрын

I need to be more safe and more secure in order to prevent scams, which is why I'm focused on DeFi. I'm hoping Humanode launches early this year so I won't encounter scammers.

@saulgoodman2018 Жыл бұрын

They said the same thing as bitcoin years ago.

@swapneshdash4501 Жыл бұрын

just accept india's upi network and enjoy . Its the power of simple effective and asset light modelling at its work.

@andretouch Жыл бұрын

That very last sentence 🤯

@millionsclub2908 Жыл бұрын

I believe Defi is gonna be the future of Finance, but investing in the right team and Defi matters a lot considering recent hacks that have been happening a lot of money lost, at the moment the only Defi project I’m invested in is $GHNY, the team seems more transparent than others

@vanessavergara3047 Жыл бұрын

why is defi have to be crypto when crypto is highly volatile?

@GevEdgar Жыл бұрын

📖

@innocentgoitseone3715 Жыл бұрын

It would be used by criminals. Just like other fintech like services.

@lykaangelikaguillermo5830 Жыл бұрын

Decentralization improves the efficiency of our financial systems. When I think of efficiency, the first thing that comes to mind is LeverFi. This Leveraged Trading Platform allows traders to use leverage to both long and short assets, allowing them to successfully optimize their opportunities in a sideways market. ✨

@charlesesu7965 10 ай бұрын

The video is incredible! In contrast to defi, LSDefi is sweeping the globe, and Ethena is one of the new projects working on it. The stable coin USDe is under development,What do you think of it?

@BitcoinAndCryptoCurrency Жыл бұрын

crypto easily explained

@HaiLeQuang Жыл бұрын

I have only 1 problem: If I lose the password to my account, who should I enquire? It's decentralized, isn't it?

@andricrypto2852 Жыл бұрын

You should ask the better version of you who wouldn't lose it.

@nuterra9143 Жыл бұрын

Drip Network is king of Defi for now.

@dogefromthefuture Жыл бұрын

It's a new ecosystem There will be losers Duh people

@AbsoluteDegens 5 ай бұрын

AAVE, COMP, INJ

@joshuaterrado9654 Жыл бұрын

Terrado share fund ??? Trillions

@syfodias-jedimaster Жыл бұрын

Why bitboy say that Sam trying to rid of defi? True or not?

@100xtoken8 Жыл бұрын

GBANK APY (GBK) DEFI 100x soon

@JohnSmith-zu2sy Жыл бұрын

this aged badly

@pointbite Жыл бұрын

You didn't speak to any engineers.

@swipekonme Жыл бұрын

imagine a world where you could make linux distros: wait it already exists. bow understand this: no community powered project has ever been a serious contender, let alone tasted success. so all crypto including defi is just one big time waste (not unlike linux distros) wait for the main banks (or ms apple equivalents) to roll out their stuff and charge tooth and nail for it

@jujijiju6929 Жыл бұрын

Lmao

@ignmorales Жыл бұрын

Such a myth for: 1) crypto is supposed to add value as long as networks develop, and 2) centralized monetary systems requiere an insurance provided by a lender of last resort, so a riskier segment of the finance industry, requires even more this insurance. At the end of the day, everything is a financial market with systemic risks embedded, so the coined term DeFi is useless and more a myth than anything useful.

@stevemurphy2249 Жыл бұрын

The case for Defi has not been vetted. What are you trying to replace? Transplanting a completely non transparent system for a mostly transparent and secure system is madness. And has no value

@TheFMBBCBM Жыл бұрын

🇧🇷🇧🇷Deus pátria família liberdade. Bolsonaro o melhor presidente do Brasil e do mundo inteiro!

@thebeast9869 Жыл бұрын

Crypto ok..... Moving on so it won't replace banks waste of time video

@massoluk Жыл бұрын

No, next

@mikedc Жыл бұрын

Trump2024

@pukes6273 Жыл бұрын

Defi will soon be dead. Everyone knows about defi now and yet people have sold by the billions. The market has made itself clear, they choose centralized currencies over defi ronin currencies.