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[onlyprofits]

Do you think Decentralized Finance (DEFI) can be regulated?

Most know that Decentralized Finance allows people to participate in financial services such as investing, lending or borrowing without intermediaries. This type of service has experienced an exponential increase in these times of pandemic.
However, there is a detail, if a failure occurs, no one can be held responsible, since everything is automatic and transactions are stored in blocks.
The vast majority of DEFIs are built on the Ethereum blockchain.
Do you think that one day DEFI can be regulated?

 

[gammarays]

Issuing laws that regulate Bitcoin is much easier than regulating DEFI (Decentralized Finance), since the latter are based on smart contracts that work on the ethereum blockchain and therefore their execution is automatic, it does not depend on human hands , only initially to enter operating conditions

100% agree with you, there comes a time when everything becomes confusing and for whatever reason they want to launch a token

Yes,you're right. I said that because all things crypto is hinged on big dogs like Bitcoin and Ethereum. Regulating them will pave way for other offshoots to be regulated too. There can be a law guiding smart contracts which every developer must follow.

 

[onlyprofits]

Yes,you're right. I said that because all things crypto is hinged on big dogs like Bitcoin and Ethereum. Regulating them will pave way for other offshoots to be regulated too. There can be a law guiding smart contracts which every developer must follow.

It is an excellent alternative to issue a regulation to developers, so they are limited to programming according to the legislation, as long as that regulation can reach the ethereum network

 

[Kunkun]

It will probably be hard to regulate it since the point of a decentralized wallet is to keep outside influence out of ones transaction, it's not impossible but it would be difficult

 

[Chibson]

I do not really think that decentralized finance can be controlled. There are a lot of shitcoins coming out on daily basis, i think people should be very careful before investing.

 

[Josemendez]

Considering it's Decentralized nature , it is not right for it to happen but the fact remains that regulators are trying to crack down on Decentralized exchanges

 

[gammarays]

It is an excellent alternative to issue a regulation to developers, so they are limited to programming according to the legislation, as long as that regulation can reach the ethereum network

Yes since it's difficult to control the token itself due to its decentralised nature, it'll be good to checkmate the token developers. There should be a strong kyc and initial insurance deposit before you can mint a token.

 

[Flower]

In my opinion, inorder to make DEFi more effective and functional, there should be a check mechanism in place to track fraudulent people. Without this, I think DEFi project wouldn't be a good one.

 

[Mariappa45]

Decentralized financial technology in the cryptocurrency world is embedded with smart contract Dapp, which makes it error free sending and receiving coins automatic. It doesn't need extra regulation to carry out it's activities.

 

[gammarays]

Decentralized financial technology in the cryptocurrency world is embedded with smart contract Dapp, which makes it error free sending and receiving coins automatic. It doesn't need extra regulation to carry out it's activities.

Sometimes, there are wilful allowances or loopholes created by the developers which allows them access to manipulate the tokens. I think the regulations should be targeted at developers and not the tokens.

 

[Mariappa45]

Sometimes, there are wilful allowances or loopholes created by the developers which allows them access to manipulate the tokens. I think the regulations should be targeted at developers and not the tokens.

Their is no way you can target those developers because they are simply anonymous, which makes it impossible to regulate their activities.

 

[gammarays]

Their is no way you can target those developers because they are simply anonymous, which makes it impossible to regulate their activities.

There's a way to target them. Mandate the various blockchains first to conduct a first level kyc for anyone who wants to mint tokens on their platform before adding other requirements later.

 

[Josemendez]

The question is this ,

There's a way to target them. Mandate the various blockchains first to conduct a first level kyc for anyone who wants to mint tokens on their platform before adding other requirements later.

There's a way to target them. Mandate the various blockchains first to conduct a first level kyc for anyone who wants to mint tokens on their platform before adding other requirements later.

The question is this , why can't people be allowed to enjoy Decentralized financial system ? Why must the government seek control over everything.

 

[osavise]

Ordinarily it is not supposed to be possible for regulations by anyone or institution because it is decentralized but the fraudulent activities some people may use it for may give government justification to find a way to monitor or regulate

I thought the decentralized features embedded in the DEFi platform could not be altered by anyone or organisation. But your statement Suggests that it could be tampered with.

 

[GoldenLady]

Do you think Decentralized Finance (DEFI) can be regulated?

Most know that Decentralized Finance allows people to participate in financial services such as investing, lending or borrowing without intermediaries. This type of service has experienced an exponential increase in these times of pandemic.
However, there is a detail, if a failure occurs, no one can be held responsible, since everything is automatic and transactions are stored in blocks.
The vast majority of DEFIs are built on the Ethereum blockchain.
Do you think that one day DEFI can be regulated?

It might be regulated. Certain things may necessitate the need for knowing and controlling transactions such as increase in crime rates

 

[SCAMEXPOSER]

I thought the decentralized features embedded in the DEFi platform could not be altered by anyone or organisation. But your statement Suggests that it could be tampered with.

Yeah, the regulations here is not directly on the cryptocurrency but transactions arround as in across Exchange plaforms license to operate in any country.

 

[Mariappa45]

There's a way to target them. Mandate the various blockchains first to conduct a first level kyc for anyone who wants to mint tokens on their platform before adding other requirements later.

That's a nice idea, with the first level KYC verification process their identity will be kept intact, and use against them when they are found in a fraudulent activities.

 

[gammarays]

The question is this ,


The question is this , why can't people be allowed to enjoy Decentralized financial system ? Why must the government seek control over everything.

It will be good to allow a free financial autonomy for crypto but developers have taken advantage of it to mess things up. I'm in support for regulation to protect crypto investors. Rugpull and dumps have wrecked most of us.

 

[Josemendez]

It will be good to allow a free financial autonomy for crypto but developers have taken advantage of it to mess things up. I'm in support for regulation to protect crypto investors. Rugpull and dumps have wrecked most of us.

On that aspect , you might have a point but when the regulation begins to affect the Decentralized nature of transaction , then there is a concern

 

[Wisdom01]

It's definitely going to be hard to regulate it considering the fact that it's not controlled by a single entity but decentralized , only thing the government could do is to separate it's operation from other countries

 

[ElPaule]

Do you think Decentralized Finance (DEFI) can be regulated?

Most know that Decentralized Finance allows people to participate in financial services such as investing, lending or borrowing without intermediaries. This type of service has experienced an exponential increase in these times of pandemic.
However, there is a detail, if a failure occurs, no one can be held responsible, since everything is automatic and transactions are stored in blocks.
The vast majority of DEFIs are built on the Ethereum blockchain.
Do you think that one day DEFI can be regulated?

by the end it have to be regulated somehow because governments want their loved taxmoney they will not sit there and see how much business will be made with out collecting some cash moneys too.

Another thing is all the scam happen in the scene. but this will not be the key fight of regulators...