<center> [](https://3speak.tv/watch?v=taskmaster4450le/rwmcmeos) ▶️ [Watch on 3Speak](https://3speak.tv/watch?v=taskmaster4450le/rwmcmeos) </center> --- We are regularly looking for the Killer Application in crytpocurrency. This is something that the industry has talked about for years. In this video I discuss how DeFi is the killer app. It removes friction and as the potential to impact billions of people. This can reduce costs while making finance more efficient. To realize this, we need to move on from B2B to B2C. Most now is taking place through centralized business that the interact with the customers as opposed to going direct to a customer. --- ▶️ [3Speak](https://3speak.tv/watch?v=taskmaster4450le/rwmcmeos)
| author | taskmaster4450le | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| permlink | rwmcmeos | ||||||||||||
| category | hive-167922 | ||||||||||||
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| created | 2023-08-09 22:16:06 | ||||||||||||
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| root_title | "Cryoto's Killer App: It Is Dei And The Foundation Is Here" | ||||||||||||
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| author_curate_reward | "" |
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| mrsbozz | 0 | 4,424,275,416 | 50% | ||
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| neoxian.alfa | 0 | 3,530,541,281 | 100% | ||
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| bank-of-hive | 0 | 182,263,042,359 | 100% | ||
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**Summary:** In this video, Task discusses the concept of the "Killer Dapp" within the cryptocurrency and blockchain space. He argues that the Killer Dapp already exists in the form of DeFi (Decentralized Finance) due to its ability to remove counterparty risk and friction from the financial system. Task highlights that while DeFi has the potential to revolutionize the industry, the current focus on business-to-business interactions still introduces centralized elements, leading to counterparty risk. He emphasizes the importance of true decentralization in DeFi to unlock its full potential and disrupt traditional financial systems. Additionally, Task explores the vast opportunities presented by DEXes (Decentralized Exchanges), liquidity pools, and base layer DeFi protocols. **Detailed Article:** Taskmaster4450 discusses the Killer Dapp and argues that it already exists in the form of DeFi. He explains that the key feature of DeFi, which makes it the Killer Dapp, is its ability to remove counterparty risk and reduce friction in the financial system, making transactions less costly. However, he notes that the full potential of DeFi has not been realized due to the prevailing centralized structures within the industry. Task points out that many DeFi projects currently involve business-to-business interactions, which reintroduces counterparty risk and negates the benefits of decentralization. Task uses the example of Binance Smart Chain (BSC) to illustrate how projects built on centralized platforms like BSC are not truly decentralized and do not align with the core principles of DeFi. He emphasizes the importance of shifting towards true decentralization by focusing on decentralized exchanges, liquidity pools, and base layer DeFi protocols to unlock the enormous potential of the DeFi space. Task highlights the need for businesses to embrace decentralized systems, such as utilizing NFTs (Non-Fungible Tokens) and tokens within a decentralized wallet to interact directly with customers without intermediaries. He emphasizes the value of creating a system where consumers can redeem tokens for discounts or trade them on a secondary market. Task underlines that these functionalities fall under the umbrella of DeFi and represent new possibilities that traditional financial systems cannot offer. In conclusion, Taskmaster4450 encourages businesses to explore the full capabilities of DeFi beyond traditional financial services. By embracing true decentralization, reducing costs, and fostering direct business-to-customer interactions, the Killer Dapp has the potential to solve global problems and attract millions, if not billions, of users. Ultimately, Task advocates for the adoption of decentralized systems to revolutionize the current financial landscape and unlock the trillions of dollars in potential value. --- *Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.*
| author | ai-summaries |
|---|---|
| permlink | re-rwmcmeos-20240403t183815z |
| category | hive-167922 |
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| created | 2024-04-03 18:38:15 |
| last_update | 2024-04-03 18:38:15 |
| depth | 1 |
| children | 0 |
| last_payout | 2024-04-10 18:38:15 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
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| root_title | "Cryoto's Killer App: It Is Dei And The Foundation Is Here" |
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