Somebody posed a question within their telegram channel and one of the founders answered, I thought it was worthwhile to share here in it's full:
The question was: indepth articles on DeFi and why Geeq will be good for finance to name a few?
DeFi certainly is a category that can be built on the Application layer of Geeq. We know there are a lot of devs and DeFi supporters out there who have already been working out these issues and think there will be a lot of progress when they find out about Geeq’s security protections and extremely low transaction costs.
The beauty of Geeq’s multi-faceted approach is we don't have a single niche like many blockchains. For example, there are a lot of categories of apps I want to ensure are built, but the entire point is it's a public platform so the whole DeFi community can build those functions on a different portion at the same time. There's no main chain, so each dev can start as many chains as they like to accomplish their purpose.
If DeFi’s mission is really to set up a decentralized alternative ecosystem then Geeq is as decentralized as it's possible to be. The entire purpose is that once a blockchain app is launched on Geeq no one, not Geeq or anyone else can stop it. The code will do exactly what it’s written to do, from scratch. There are no legacy loopholes or backdoors. Everything for Geeq was designed to support maximum voluntary and permissionless participation.
So then, it becomes a quality issue. Geeq can't protect against bad code in the DAPP layer, which means those who want to set up DeFI will have to go through more of a quality assurance process for whatever smart contracts they want to set up.
What Geeq can do is safely validate all the transactions, transfers, and payments that occur on the platform according to code and extremely cheaply. Cheap enough to bring DeFi to the masses!
Any thoughts on this?
Could DeFi be brought to the masses via Geeq?
Topic: Geeq has all the right tools for DeFi (Read 136 times)
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