@ISIDEWITHQuestionseconomyStarted 3yrs agoActive 9mos ago

Should the technology of our financial system transition to a decentralized protocol, that is not owned or controlled by any corporation, similar to the internet?

Decentralized Finance (commonly referred to as DeFi) is a blockchain based and cryptographically secure form of finance. Inspired after the financial crisis of 2008, DeFi does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to verify any transfer of ownership, lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against…  

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Answer Overview

Response rates from 1.2k Dublin voters.

45%
Yes
55%
No
33%
Yes
42%
No
8%
Yes, but only if it’s truly decentralised and cannot be manipulated by any person, group, or government agency
13%
No, and I don’t understand the concept of decentralised finance
3%
Yes, but I would prefer if the protocol was created and secured by a government agency instead of a decentralised protocol
1%
Yes, this would reduce wealth inequality by providing more transparent, affordable, and inclusive access to financial services

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Other Popular Answers

Unique answers from Dublin voters whose views went beyond the provided options.

 @9M7MR9Yanswered…9mos9MO

I don't have a good understanding of decentralised finance

 @9K486Y8answered…11mos11MO

If it is owned and controlled by one company, then the stakes of making sure everything runs smoothly is higher as the ownus falls on them, this is why I believe that it should be owned and controlled by a single company, but carefully watched as to ensure it is operating correctly.

 @93HFKH7answered…3yrs3Y

No, everything should be centralised

 @9B4YYGCanswered…2yrs2Y

We do not need a financial system

 @97Y8HZLanswered…2yrs2Y

I don't understand the concept of decentralised finance

 @94P4F2Hanswered…2yrs2Y

I am unsure on this one

 @beauchurleyanswered…3yrs3Y

No, but create tax incentives for ethically run domestic startups to compete for business in this space.

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