Emergence Of DeFi And Adoption Of Blockchain Tech

The world of financial decentralization is maturing at a fast pace. Despite the fact that DeFi carries a value of $45 billion, corporations carry the aims of implementing the concepts of DeFi to promote automation of processing in businesses. This emerging concept is deemed as “enterprise DeFi.”

An example of a company following this pattern is Coke One North America (CONA). CONA is famously known for its baseline protocol. This project essentially directs sound information between companies through zero-knowledge cryptography, token invoices, messaging, and blockchain. With that said, CONA gives the internal and external stakeholders access to a private and integrated network. Examples of CONA and other businesses have caused these solutions to gain demand in the market.

Moreover, new enterprises are also entering the market, such as Provide and Big Four firm Ernst. Moreover, as of recently, ConsenSys, an important blockchain business, stated that they would incorporate baseline protocol to aid them in enterprise clients. Important blockchain businesses implementing baseline protocols elaborate on the importance of adopting DeFi.

ConsenSys Codefi is a financial suit, which carries the capability of linking blockchains to their financial use cases. The institutional products lead of the company, Didier Le Floch, argued that the baseline protocol products would be compatible with companies that designed them. Examples of those companies include Microsoft and ConsenSys. He also stated that these steps would pave a path towards the enterprise sector colliding with the DeFi industry.

MakerDAO of stable coin Dai proclaimed its sustenance to non-crypto-native assets back in June 2020. An example of non-crypto-native assets includes invoices. In addition to this, the company also claimed to support a blockchain protocol; whereby assets will be brought to the platform of the company.

In order to implement this, the originators of assets can employ Centrifuge Chain to develop tokens for assets of the real-world. The tokens will be known as ERC-721 tokens. After that, the assets will be added to Tinklake (DeFi Ethereum protocol). As a result, the assets will enter the decentralized market. Aave, a DeFi protocol, also introduced similar steps in October 2020, which highlights the entry of the DeFi protocol in the market.

Isacco Genovesi

Author: Isacco Genovesi

Isacco writes news articles, reviews and guides about cryptocurrencies including technical analysis, blockchain events, coin prices marketcap and detailed reviews on crypto exchanges and trading platforms.

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