Well the cryptocurrency ecosystem and products which has originated from this space feels like a waste of time or let’s simply put it as a scam, but in this light we have failed to forget some roles which these products have played in times of needs I know we haven’t gotten any with humanity value but before we forget so fast as I was reminded by Sandeep Nailwal in he’s AMA on Reddit.
Nail wan which is the co-founder of blockchain layer-2 scaling solution polygon says that;
The whole Defi (decentralized finance) space has created a lot of financial primitives like Decentralized Exchanges, Money Markets etc who are currently maturing and will scale as blockchain infrastructure scales and will become the norm.
Whether it was the Covid relief in India, or War relief efforts in Ukraine or Earthquake relief efforts in Turkey, Crypto technology and community was at the forefront and for a good amount of time was the only way to channel in the money for the relief efforts.
A lot of people in Africa and Latam (Latin America) are today using USDT as a means of preserving their wealth against inflation in their local currency.”
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