DApps, at their core, are engineered to protect you. The lack of third-party supervision and regulation, though, is a security blanket that can be hard for some to shed. Take brokers: for many, they’re a sort of necessary evil (think extra fees, lack of access to your assets, etc.) because they act as a navigational guide through otherwise complicated markets. But what if emerging technologies removed that “necessity” altogether?
That’s one of the big ideas driving innovation in the DApp, or a decentralized application, space. With multilayered decentralization including not only crypto assets, but decentralized storage, trading, and decentralized apps to handle more complex functions like gambling and even gaming, moving entirely away from centralized finance is now becoming possible.
Why is this valuable?
Because virtually all our information lives online now, we’ve reached a point of reckoning regarding who ultimately controls that (financial, social, and even health-related) information and how they’re able to use it. Brokers, or middlemen, keep this information on their central servers to allow you to store money, connect with social contacts, etc., and as an extension, can block your access to it at the push of a button.
This information monopoly, according to developer Grant Bartel, can only be combated by decentralizing information and services, so that “large corporations and governments won’t be able to control users of the Internet” with “authoritarian tactics.” In other words, when that information, money, etc. is stored on a blockchain, it can’t be controlled or tampered with by special interests. DApps, then, add another level of security to those principles, by removing those special interests not just from holding your information, but from controlling the very platforms on which you’d use that information, money, etc.
Fewer Third Parties, Near Endless Opportunities
In a financial sense, as your own broker, you remove a middleman from your financial management strategy and thus have total control and access to your own assets. More than that, though, you’re able to participate in the DeFi landscape in the truest sense of the term. No oversight or third-party interests can access your assets, the places you store them, or the platforms on which you use/exchange them.
Essentially, DApps remove an entire additional layer of centralized oversight from your transactions, paving the way for a more fully deregulated, free, and fair system of finance. As DeFi continues to innovate toward a landscape where brokers are virtually obsolete, genuinely self-managed assets become more of a widespread possibility.
This is exciting because accessibility is also rising to meet this potential. As more layers of decentralized technology develop, more industry innovators are releasing ways to help the public effectively navigate and participate in DeFi as their own brokers. We’re seeing this in simplified DApp interfaces, advanced and consolidated DeFi trading platforms, and more.
As this push for decentralization and accessibility continues to explode, it’s smart to get ahead of the game and ensure your assets, for one, are yours to solely own and access. Download the Zelcore app to get started and see how truly simple DeFi can be.