It is becoming clear that the main application of blockchain technology will be in decentralized finance (DeFi).
DeFi opens doors to a globally interconnected alternative to every financial service you use today — savings, loans, trading, insurance and more — accessible to anyone in the world with a smartphone and internet connection.
However, even DeFi will not get very far without mass adoption. At this point, DeFi is barely in the early adopters stage on the technology adoption curve.
So how do we cross the chasm? How do we onboard the mainstream market over just the tech enthusiasts?
There is one key component missing in DeFi that is blocking mass adoption. We must provide easy, simple, and inclusive access for everyone.
This is where CryptoLocally comes in. CryptoLocally bridges the gap between the ordinary person and the world of DeFi. By doing so, CryptoLocally will unleash DeFi to the masses.
The problem: DeFi is too hard to access
The majority of people with access to traditional financial services are often subject to the archaic banking bureaucracy, a system that prioritizes the wealthy.
Access to products such as loans, insurance, investment vehicles and financial markets are littered with hurdles. This is for those who already have bank accounts.
However, there are over 2.5bn people in the world that have absolutely no access to financial services.
DeFi is expected to democratize financial services. Unfortunately, at this time, access to DeFi and digital assets in general remains fragmented, complicated, expensive and slow. For the unbanked or the millions of people living in emerging economies, or people who live in regions with restricted currencies, this is sometimes outright impossible.
