Last year we celebrated July 4th with the announcement of Financial Independence Day. We would like to follow that up with a sneak preview of a new kind of financial independence — the decentralized finance revolution (or “DeFi” for short) led by Hydrogen Molecule.
What is DeFi?
DeFi is simply the new financial ecosystem that will be integrated to public blockchains, cutting out traditional centralized middlemen across banking, payments, and credit. DeFi creates a way to democratize the financial services industry around the globe.
There is a vicious cycle that exists in financial services that cuts out the majority of middle and lower class customers from financial markets in Latin America, Africa, and Southeast Asia. It is expensive to service customers that don’t yet have thousands of dollars to save, invest, or borrow. There is very little traditional financial infrastructure that can support the billions that will enter the financial ecosystem in the coming years.
Molecule and DeFi
This is why we are creating Hydrogen Molecule. This platform will soon be available across the globe, giving entrepreneurs the opportunity to use the power and scalability of the Ethereum blockchain (and the open-source Project Hydro) to service clients across banking, investing, savings, insurance, credit, lending, and much more.
This will be accomplished with easy to use APIs, documentation, connectors, and integrations that any developer with some coding experience can use. There will be no knowledge of blockchain or cryptocurrencies required!
The v1.0 of Hydrogen Molecule will focus on the following key components of the DeFi ecosystem:
- Decentralized Identity
- Asset and Security Tokenization
- Crypto Payments
- International Remittance
Happy 4th of July from the entire Hydrogen team in New York City! We look forward to the global financial independence to come!