Earnity is the world’s first community-based crypto platform and marketplace headquartered in San Mateo, California, led by fintech veterans Dan Schatt and Domenic Carosa. It has developed a unique and intuitive platform where users can expect a highly secure, easy-to-use app for buying, selling, and holding crypto and DeFi assets. Dan Schatt and Domenic Carosa’s vision behind the Earnity platform is to come up with a product that will let people enjoy the benefits of DeFi.

A Massive Potential

Decentralized finance or DeFi refers to blockchain technology to enable financial products and services to be operated in a decentralized manner. This includes smart contracts to automate financial processes and decentralized exchanges to facilitate peer-to-peer trading.

As digital currencies such as Bitcoin, Ethereum, and the like become more popular, the potential for DeFi grows. DeFi financial applications built on top of a public blockchain allow users to conduct transactions without the assistance of a third party.

DeFi has already seen tremendous growth in 2019. The value of all outstanding DeFi loans has quadrupled since January, reaching $1.2 billion. This unprecedented increase is being driven by the development of new DeFi products and services.

One such product is MakerDAO, which allows users to create stablecoins called DAI. DAI is backed by ether, Ethereum’s native cryptocurrency. Using MakerDAO, users can protect their purchases against volatility in the crypto market.

Another exciting development in DeFi is the launch of decentralized exchanges (DEXs). DEXs allow users to trade tokens without relying on a third party. Without a third party, it increases security and privacy and reduces the risk of fraud.

DeFi may still be in its early stages, but there is already huge growth potential. As more people become aware of the benefits of decentralization, expect to see even more innovation in finance.