To begin with, the Blockchain policy will serve as a roadmap for Nigeria’s increased innovation in Blockchain in years to come. It is trite that modern society thrives on the ability of its government to set clear standards, principles and action plans for the development of such society. This will be reflected in the nature of its laws, policies, etc.
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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys.
Privacy Protection: The Future of DeFi
Reading Time: 5 mins read
On April 22, MakerDAO, known as the DeFi world’s ‘central bank’, in partnership with the financial supply chain project Centrifuge, completed the first real-world asset loan in DeFi (decentralized finance). Centrifuge helped New Silver, a loan pool to set up a real estate repayment and transfer loan pool in its Centrifuge Tinlake protocol. They have just financed their first loan using MakerDAO as a credit facility.
It is a major breakthrough and milestone for DeFi. With the help of DeFi, real-world financial institutions can operate 24 hours a day on smart contracts without trust issues, and provide low-interest rates on loans and access instant liquidity with minimum capital costs. This opens the door to a new trillion-dollar market for DeFi.