Decentralized Finance (commonly referred to as DeFi) is a blockchain based and cryptographically secure form of finance. Inspired after the financial crisis of 2008, DeFi does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to verify any transfer of ownership, lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against…
Read moreResponse rates from 393 Sydney voters.
48% Yes |
52% No |
35% Yes |
43% No |
9% Yes, but only if it’s truly decentralised and cannot be manipulated by any person, group, or government agency |
9% No, and I don’t understand the concept of decentralised finance |
4% Yes, but I would prefer if the protocol was created and secured by a government agency instead of a decentralised protocol |
|
1% Yes, this would reduce wealth inequality by providing more transparent, affordable, and inclusive access to financial services |
Trend of support over time for each answer from 393 Sydney voters.
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Trend of how important this issue is for 393 Sydney voters.
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Unique answers from Sydney voters whose views went beyond the provided options.
@8WFF26D3yrs3Y
I would prefer to educate myself more on this topic before answering
@aicro3yrs3Y
I don’t understand the concept of decentralised finance.
@92DPRNZ3yrs3Y
I am leaning towards yes, but this uses a lot of processing power and therefore energy
@92DNLYH3yrs3Y
No, because banking systems should be subject to government regulation, and should not have an outsized environmental impact
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