ETH - Worried About Your Crypto Investment? This Recent Experiment by JPMorgan Shows Crypto is Here to Stay.
The creation of Ethereum (CRYPTO: ETH) in 2013 laid the foundation for cryptocurrency to take the largest step in its evolution since the creation of Bitcoin . With Ethereum's programmable blockchain, developers could build self-executing code that would be triggered based on set conditions. Subsequently, this gave rise to an entire sector of blockchain that is known today as decentralized finance or DeFi .
With DeFi, many traditional financial operations, such as lending, were revolutionized and gave way to entirely new methods of crypto-based finance like yield farming. Unlike traditional finance, DeFi was open to anyone with sufficient funds and an internet connection. Users didn't need a credit score, they didn't have to show proof of identity, and they didn't need to rely on an intermediary like a bank. For these reasons, many view DeFi as a direct competitor to traditional financial institutions.
However, that might have all changed this week with an announcement by one of the world's largest banks.
For further details see:
Worried About Your Crypto Investment? This Recent Experiment by JPMorgan Shows Crypto is Here to Stay.