A Human-Centric DeFi Ecosystem is Possible

A Human-Centric DeFi Ecosystem is Possible

By æternity | aeternity blog | 5 Nov 2020


The Human DeFi Hackathon will explore DeFi solutions aimed at bringing advanced financial services to people — not only generating profit. 

hackathon

DeFi, or decentralized finance, is a term used to refer to the application of blockchain technology in disrupting the traditional world of finance. DeFi can be used to describe decentralized lending services, liquidity markets, or other complex blockchain-powered financial solutions.

The core idea that drives DeFi focuses on reworking the centralized nature of traditional finance. DeFi platforms and developers work to change the way traditional financial infrastructure operates, delivering financial services via decentralized applications or peer-to-peer architecture.

The primary goal of DeFi is to completely reconstruct the “traditional” banking and financial system in an open, transparent, and “trustless” manner. The journey toward a completely decentralized financial ecosystem, however, is obstructed by a number of serious problems that must be solved.

Most DeFi platforms or solutions online today aren't focused on delivering financial services to the unbanked, underbanked, or those without access to traditional financial services. Instead, these solutions are primarily focused on profit, not people.

The current state of DeFi indicates a clear need for focusing development on social economies and increasing access to financial services.

Today, 1.7 billion adults around the world remain unbanked, with almost one third of all adults worldwide lacking access to adequate financial services. Financial inclusion — a core goal of DeFi — means providing people with the ability to save capital for family needs, start or support businesses, or build savings for the future.

 

The Human DeFi Haeck aims to contribute to the world economy by highlighting the advantages of DeFi from a human perspective.

The Hæckathon will bring together the best minds in the DeFi ecosystem to create an equitable, open, and accessible decentralized future for anyone, anywhere.

The Hæckathon is a project created by æeternity blockchain in tandem with superhero.com, a new decentralized social network built on æternity technology in order to leverage the unique advantages of the æternity protocol for DeFi.

æternity delivers embedded oracles, unlimited scalability, low fees, and a highly secure programming language for smart contracts ideal for DeFi applications. These are just some of the features that make æternity — the Erlang based blockchain — a technically superior, more reliable, and safer protocol for building DeFi solutions.

 

The Hæckathon will run remotely on devpost.com from Nov 10th  to Dec 10th, In addition to providing developers with the tools and resources they need to learn how to build on æternity, the Haeck will facilitate design thinking techniques to ensure the solutions developed deliver solutions focused on the real needs of the market. 

Projects created during the event might have the chance to benefit from the opportunity to be further developed after the Hæckathon, accelerating the development of a human-focused DeFi solutions.

The Hæckathon operates in partnership with blockchain 4 Humanity, an international non-profit that operates with the aim to leverage the potential of blockchain for the greater good. Blockchain 4 Humanity will lead design thinking webinars and guide participants toward the development of meaningful solutions.

Participants in the hæckathon will share the opportunity to win up to $16,000 USD in ae tokens in prizes, as well as the possibility to get in-depth assistance in the refinement and deployment of their project.

Superhero.com unleashes a new world of social networking that leverages the full power of decentralization technologies to achieve a new framework for social and financial interactions with special superpowers.

Some of the first superpowers that drive the Superhero platform are peer-to-peer, censorship resistant, and permissionless tipping to content creators, a voting app, and the ability to create and join private video rooms in which participants can send and receive tips.

During the Hæckathon, the participants will be able to add new models of financial interaction that may ultimately end up integrated as new features in Superhero.com.

Registration for the Hæckathon is already open. Participants are able to access more information and sign up in https://humandefihaeck.devpost.com/.


æternity
æternity

Hi, I am Ashi and I am the Social Media Expert at aeternity Blockchain!


aeternity blog
aeternity blog

æternity blockchain is an Erlang-based scalable smart contract platform engineered by programming pioneers to address some of the most fundamental challenges native to earlier blockchains. By redesigning blockchain technology at the protocol level, the æternity developer community has enabled the core protocol to understand and integrate a rich set of functionalities out of the box. Follow the æternity blog here to get all the latest updates from the AE community.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.