How DAI is changing the world
Alright then. A new year’s gift to you all: two pretty cool links about the developments of a revolutionary decentralised finance application. Almost within half an hour you can be up-to-date on the main developments! At least, this is all you need to know in my opinion. The blockchain works and it’s here to stay... ;)
Maker is a smart-contract platform built on Ethereum and DAI is its currency.
In the video below of 16 minutes, you can see 4 possible applications explained about this fascinating project. They are working already, or are work-in-really-fast-progress. The thing is, these applications will be super easy to use soon (check out the DEX-wallet too ; ), and my guess is that in 2020 there will be an explosion of people experiencing the benefits of that.
Explained in the video is how to..
- Earn interest on DAI
- Trading DAI for other tokens / gift-cards
- Spend DAI online
- Sent DAI with INSTA-pay, without transaction fees! ( Yes.. ; )
Well. If you are very much into regulation, then you might think that the government will be able to control these apps, or have influence on what is being developed right now. I disagree with that. Remember, this is just one of those crypto use-cases. Just one… read more about that here.
In the next video you can see how this works in real-life. Somewhere on this world DEFI is really necessary, and these places could very well be where these applications will gain the most traction at first. It will take you 20 minutes in total to walk-through this real-life use-case…
Okay. One disclaimer: Dai launched on Dec 17, 2017, so the MakerDAO Protocol, the smart contracts that powers Dai, have been proven very stable already for a while now. However, there are still lots of things to figure out, especially with all these DEFI-applications, and yes… even ‘black swan’ events may come along. We’ll have to see how this turns out for Maker.
So only invest what you are willing to lose, and learn first, before taking too big steps into DEFI!
Other than that, please start your year great and enjoy a bit of decentralised finance in 2020. In my opinion these developments basically are the future of finance. If you think otherwise, please explain to me how any banking system can compete with these open-source developments?
O yeah, if you have some questions, please check out the MakerDAO FAQ! ;)
That’s all. You are welcome.
Have a great 2020 all! :)
