JAKARTA – Based projects are Bitcoin Emerging now in Southeast Asia, including Indonesia. We speculate this digital currency in Indonesia to be profitable.
But, there are actually many opportunities that can together with the increasing number of enthusiasts of Bitcoin in Indonesia. To increase understanding around its utilization, conference Bitcoin Asia’s leading, the Block Bali Summit, is being held again. They held the Block Bali Summit event on December 1, 2020. It’s presented by Black Arrow Conferences in collaboration with INDODAX, Novum Alpha, Crypto Hero, and Super Crypto News.
This year, the Bloc Bali Summit took Decentralize Finance (DeFi) as the main theme. DeFi has indeed become a hot topic not only among industry players Bitcoin but also financial industry players in general.
They also has several other terms, including ‘Finance 3.0’, ‘open finance’, or ‘affordable finance’. They can interpret DeFi as a financial system developed or running on a network system Bitcoin a decentralized.
Bitcoin can be a financial tool
From here, DeFi tries to ‘move’ various traditional financial services (CeFi), such as lending (lend, borrow, loan), trade, saving, transfer, insurance, remittances, etc. to run on network system Bitcoin a decentralized as one DLT solution or Distributed Ledger Technology.
Simply put, DeFi is an open financial system without intermediaries, which has been used successfully in crypto-asset transactions. With DeFi, crypto-assets can trade, or used for other financial activities, and concise.
Indodax CEO Oscar Darmawan said DeFi moved the CeFi components (lend, borrow, and others) and decentralized these components by eliminating intermediaries and replacing them with two main components, namely smart contracts and tokens. We consider deFi to be a future financial system that is more efficient and can used by anyone.
“DeFi is an exploration of the concept Bitcoin project latest that penetrates the financial industry. And I believe that in the future it will complement the existing financial system and make financial processes more efficient and transparent,” he told reporters, Friday (27/11).
According to him, Asia is a potential market for DeFi development because Asia has a large population. And especially Southeast Asia has many islands which makes it expensive to reach infrastructure to all regions equally.
“This is the reason why the financial industry continues to need innovation to make the process more efficient and I believe Bitcoin can help this innovation. , “explained Oscar Darmawan.
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