How Woonkly Integrates DeFi in Its Ecosystem
Decentralized Services Adding Value to Our Community
DeFi or Decentralized Finance is the technological evolution of the FinTech developed in the 20th century. The main goal of the DeFi project is to provide a wide range of services built on top of the decentralized infrastructure. By using these decentralized services, the user interacts directly with the platform without the need for a middleman.
Thanks to the rise of the blockchain decentralized projects that escalate are now possible. Startups have realized the value of self-sustained ecosystems that do not have a central regulatory authority. This is a step towards the achievement of true decentralized autonomous organizations (DAOs) in the future.
Decentralized Finance (DeFi) is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries.
At the same time, there is a focus on security, privacy, and trust in the systems.
What Can You Create with DeFi?
There is a large list of projects based on the premise of DeFi. No wonder it has become a buzzword in the cryptosphere in the past months. There is a lot of hype around DeFi for the amazing applications of the infrastructure. The following are just a few examples of possible projects compatible with DeFi:
2. Asset Management Tools
3. Decentralized Exchanges
4. Tokenization of Assets
How Is Woonkly Betting on DeFi?
Woonkly has aimed for a complete decentralization in the streaming services. Currently, we are about to push the 3.2 version of our platform with new exciting updates and features. You can seamlessly upload videos to our platform if you are an influencer or an advertiser. And, if you just want to watch some interesting videos, the UI/UX is as user-friendly as can be.
Also, we have enabled a wallet to manage WOONK and ETH with a few clicks without leaving the dashboard. In the long term, we aim to implement more features that allow complete control of the user account, campaign customization, etc. We are working every day to update the platform to the state-of-the-art standards of the technology.
The Importance of Decentralization
We live in a society where most of our data is shared within businesses. Sometimes, this data transfer may happen without our knowledge or conscious approval (you must learn the small letter!). For instance, Facebook and Google grab big data from millions of users worldwide every day. This is one consequence of centralization in digital services.
Therefore, the need for decentralization, i.e. no central authority is a claim to regain freedom, privacy, and quality of services. In the next years, we will keep moving towards the coexistence of centralized and decentralized. The services we know and love now have a blockchain-based counterpart. Woonkly is on the edge of this wave introducing highly innovative updates constantly to improve the streaming services of its ecosystem.
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