HyFi dApps. Why do we need them?
As we explained in our previous article, Hybrid Finance is the new frontier in blockchain and fintech in general. The convergence between Fintech and DeFi will soon become the primary choice for crypto businesses worldwide, radically changing the reality of the current state and bringing innovation.
But at present, how is the crypto industry exposed to HyFi? What are the trends, and what dApps are available?
Let’s find out together!
Why is HyFi so essential?
Our “cloud era” is characterized by the internet of blockchains. Specialized chains and forkless upgrades are masters. We are always more exposed to shared security and scalable composability, and for this reason, we need products that improve the DeFi metrics without forgetting the protection mechanism of the consumer, the support for data privacy and peer-to-peer connections but also regulatory compliance.
The cryptocurrency industry is increasingly divided into two fronts: on the one hand, those who prefer security and “ignore” the aspects that concern privacy, and on the other, those who do not trust in the centralization of their funds because sometimes CEXs operate as black boxes, and prefer to make transactions on DeFi.
In this perspective, the concept of hybrid finance and the need to develop decentralized applications that combine the benefits of centralized and decentralized finance take root.
But what is the current landscape? What does the crypto industry offers on the market?
The hybrid finance sector was born recently and is constantly evolving. This is why the finished and functioning products on the market are very few. Many companies in the crypto industry are rushing headlong into this front, supporting the development of the DeFi platform with hybrid infrastructure to benefit modern finance and business development.
One of them is Yanda, which, with its protocol, aims to create a bridge that fills the gap between CeFi and DeFi, storing data on-chain throughout the security of a CeFi environment and monitoring off-chain transactions.
We believe that the world of cryptocurrencies is increasingly in need of innovation and that hybrid finance will be an ever-expanding trend. More and more companies will broaden their horizons and create new products to ensure greater security for users but also greater transactional speed.
Always more DeFi and CeFi platforms will change how they envision investments, considering the idea of building hybrid products that underpin the main features of the two financial systems to give birth to innovative products to protect their users.
The HyFi engines will power a new global economy and empower individuals to create better financial futures.
What do you think about that?
We will keep in touch on the other side and stay in the loop!