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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?

 

[SCAMEXPOSER]

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

 

[onlyprofits]

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 agree 100% with you, the fact that it is decentralized opens a window for the big mafias to launder their money and then get clean money that they can move quietly.

 

[SCAMEXPOSER]

I agree 100% with you, the fact that it is decentralized opens a window for the big mafias to launder their money and then get clean money that they can move quietly.

That's the concern of many generally with Crypto currency because politicians may soon adopt it as a means to launder money let alone DeFi .

 

[onlyprofits]

That's the concern of many generally with Crypto currency because politicians may soon adopt it as a means to launder money let alone DeFi .

That is the detail, not everything completely private is good, there must be a balance between privacy and monitored transactions. In the near future the measures adopted by the different governments before the rise of DEFI

 

[SCAMEXPOSER]

That is the detail, not everything completely private is good, there must be a balance between privacy and monitored transactions. In the near future the measures adopted by the different governments before the rise of DEFI

The reason why DeFi had a crash few months ago was because scammers used the decentralized nature of the tokens and project to abscond with Investors funds.

 

[onlyprofits]

The reason why DeFi had a crash few months ago was because scammers used the decentralized nature of the tokens and project to abscond with Investors funds.

That's an unfortunate truth, but thank God the DEFIs have recovered and a huge number of new investors flock to the DEFIs, from loans to yield farm.

 

[gammarays]

It's just like crypto tokens. The regulations must start from normal crypto tokens before it gets to defi tokens. I doubt if it'll be easy to achieve that. It's a free world and also a survival for the fittest.

 

[Brain]

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

Well stated. I will vote for regulations if I'm asked. I wouldn't mind a kind of control so that dubious activities by fraudsters and scammers can be put under a good extent of control

 

[SCAMEXPOSER]

Well stated. I will vote for regulations if I'm asked. I wouldn't mind a kind of control so that dubious activities by fraudsters and scammers can be put under a good extent of control

Yeah that is what SEC should focus more on , they should let the market control the price, let transactions go smooth they can generate revenue through licencing of Exchange plaform.

 

[Brain]

Yeah that is what SEC should focus more on , they should let the market control the price, let transactions go smooth they can generate revenue through licencing of Exchange plaform.

Definitely, this will show some decorum with transaction of business. The should be a kind of central control to limit whatever wouldn't be positive

 

[onlyprofits]

It's just like crypto tokens. The regulations must start from normal crypto tokens before it gets to defi tokens. I doubt if it'll be easy to achieve that. It's a free world and also a survival for the fittest.

I agree with you, it is very difficult for DEFI to be regulated since they are carried out on decentralized platforms only controlled by software and on the Ethereum network

 

[SCAMEXPOSER]

If it is technology innovations there is no the government can't have access to regulating to an extent especially in the aspect of fraudulent activities.

 

[onlyprofits]

If it is technology innovations there is no the government can't have access to regulating to an extent especially in the aspect of fraudulent activities.

That is the detail, that this has no borders since the platform is not installed in a specific country, it is installed on the blockchain

 

[CrazySher]

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?

I don't much idea about it, as I invest in crypto but don't by any defi, is it a company like coinbase and blockchain, if you can explain simply tell me.

 

[onlyprofits]

I don't much idea about it, as I invest in crypto but don't by any defi, is it a company like coinbase and blockchain, if you can explain simply tell me.

Unfortunately, it won't help you much in this regard either, I have heard of DEFI (Decentralized Finance) and they cause me a lot of curiosity, since they are platforms in which you can buy, sell and even lose borrowed money, but everything is based on the ethereum network through of smart contracts, therefore the hand of man does not intervene in the processes of contract execution

 

[gammarays]

I agree with you, it is very difficult for DEFI to be regulated since they are carried out on decentralized platforms only controlled by software and on the Ethereum network

The crypto world is just like a free for all jungle where everyone is allowed to roam and survive. Regulations has to start from the top dogs Bitcoin and Ethereum before it can be spread across to other cryptos and platforms.

 

[SCAMEXPOSER]

I think if there is gonna be regulations it should begin with transactions and launching fo new Crypto currencies or tokens because they are becoming surplus and unnecessary.

 

[onlyprofits]

The crypto world is just like a free for all jungle where everyone is allowed to roam and survive. Regulations has to start from the top dogs Bitcoin and Ethereum before it can be spread across to other cryptos and platforms.

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

I think if there is gonna be regulations it should begin with transactions and launching fo new Crypto currencies or tokens because they are becoming surplus and unnecessary.

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

 

[SCAMEXPOSER]

The numerous number of Crypto currencies are what makes it very difficult for people to make the right investment and makes money from them . Some coins are nothing but shit coins.