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Bitcoin and DeFi

When the popularity of bitcoin increases, those who fear the most is the authoritarians. Government and great financial regulators are the prime ones. Bitcoin is a major concern for them. It is not because bitcoin is doing something harm to the world, it instead gives the power back to the common people. They can choose the value of money whether to deteriorate over time or to grow. It is a simple matter of choice. Earlier there institutions and government of thought of bitcoin as a fad popular among nerds and techs. But when it reached in big hands, they really started to get panic. Today’s market, the market capitalization of crypto is about 2.7 trillion. Where would have this money go if it is not invested in crypto? The possibilities are stocks and banks. Of course there are lot of other options, but majority of it goes to these two places. In either way banks get a fraction of involvement in money circulation. Or we can simply say we need banks for any kind of transfer. This is exactly going to disappear and a concern for this big financial institutions.
Among bitcoin and other crypto currencies, DeFi is getting popular and is a night mare for such centralized authorities.

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