The Most Exciting Decentralized Finance Developments Revealed in 2019

Nov 7 · 4 min read

As we would expect from the industry, this year has been ripe with innovation, and developers have continually released or announced new projects that seek to build upon the already exciting progress taking place in decentralized finance. However, trying to keep up with the releases and determine which projects have merit and which are only noise can leave your head spinning. As such, we have crafted a list that will help you to learn about some of the projects that matter most. Here are some of the most exciting developments that have taken place in decentralized finance in 2019!

1. The Release of Haven (OpenBazaar)

If you paid attention to crypto during its early years, you most likely witnessed the release of various websites that promised you creative and exciting ways to earn Bitcoin. Due to the consistent volatility and lack of mass adoption in crypto, many of these websites were forced to close their doors and have remained dormant since, even as Bitcoin proved its strength and durability.

Despite this, however, there are some interesting concepts that have managed to survive the cryptocurrency market, with one such project being OpenBazaar. OpenBazaar is unique because it is one of the few platforms designed to provide users with a decentralized marketplace, allowing them to sell physical and digital goods without the rules and regulations that come with traditional marketplace sites such as eBay. Additionally, it is one of the few and oldest decentralized marketplaces to have continued operations.

They recently released their own app that streamlines the process and makes it easier for users to take care of orders and purchase goods via a mobile device. While we have seen some companies that aim to provide similar services, they are one of the first. Should they be successful, this can open up the industry to many other services boasting the same capabilities.

2. Algorithmic Stablecoin Offerings

Stablecoins were obvious solutions to the issue of volatility in the crypto market. When these products were first released, they relied on a model that tied them to physical assets, which proved to be problematic over time as this model is highly-centralized and ultimately controlled by the issuer of the coin.

Now, we see more and more developers shy away from that model and opt for a decentralized version instead. Decentralized, algorithmic stablecoin products rely on an algorithm to keep the price steady rather than relying on the stability of traditional fiat or other products, which can often leave room for minor volatility. By setting the prices through an algorithm, this prevents any swings from taking place.

Emerging projects are also seeing that these products are backed by a reserve of cryptocurrencies so that they can remain fully decentralized and safe from potentially malicious actors within the organization. Free from centralization and control, algorithmic stablecoins may be the beginning of a new path towards cryptocurrencies that can act as a store of value.

3. China’s Developing Crypto Project (DC/EP)

An unlikely project, China is currently developing its own crypto platform known as DC/EP (which stands for digital currency electronic payment). The cryptocurrency will essentially serve as a digital Yuan and will need to be disbursed through certain banks that have partnered with the project. However, once the currency has been released, it would act similar to any other cryptocurrency and is free of the traditional banking system.

One of the most intriguing aspects of this project is the way in which the crypto changes hands. When there is no connection, users can still transfer funds to each other by touching phones that have the wallet installed on them. However, users can still expect online transactions to perform the same way as other crypto transactions do.

Armed with a more anonymous and easy-to-use platform, Chinese citizens will be able to take part in the decentralized financial system in a secure way, which is a major step forward for the cryptocurrency community abroad.

4. The Monolith Project

While the term “decentralized finance” is commonplace, “decentralized banking” is not. However, this is exactly what Monolith sets out to do.

Monolith is a decentralized banking alternative that operates on the Ethereum platform to provide a truly free banking experience. This platform boasts exciting features such as a variety of decentralized apps where you can spend your tokens, a non-custodial wallet that features security precautions like a daily spend limit, and a Monolith Tokencard that allows you to spend your chosen tokens in any location that accepts Visa.

While you will still have to rely on a debit card to spend your funds, having the option of using a completely decentralized banking system can be an exciting glimpse into the future for all crypto enthusiasts.

Decentralized finance is constantly moving forward as crypto continues to become a mainstream asset in our society. Just these four examples give us a glimpse into what the future of crypto can be and what we should expect as we move into 2020!


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