So have been doing some research on cefi and defi on what it’s all about because have been hearing it for quite some time now. I got to understand that DeFi give its users trust that the technology will perform its expected execution on the services being offered. While CeFi, give its users trust that it can help manage the business funds and execute the business services. They both deliver a wide range of crypto currency-related financial services.
So evaluating and summarizing which DeFi projects are replacing well-known CeFi products.
MONEY
Globally the most used fiat currencies already have digital versions of them living on different blockchains like Bitcoin and Ethereum. The most popular ones are USDT and USDC; however these are still issued by companies which do not make them fully decentralized and represents a single point of failure.
ETH
ETH is the native asset of the Ethereum an open source blockchain, it is not expected to be in part of any centrally-issued fiat currency. However, it is considered money in the sense that it is used to pay for fees of any transaction and services made in Ethereum DeFi.
DAI
One of the alternatives to centralized stablecoins is DAI, which aims to keep its value in the market and close to 1USD.
AMPL
Ampleforth (AMPL) is another crypto coin and financial building-block like bitcoin it was created with flexible supply which would automatically be increased or reduced, it is not a stablecoin.