SelfKey Weekly Newsletter
Date - 11th November, 2020
A bull market seems to be around the corner. What would be the role of DeFi when the market turns bullish?
19 Nov 2020
Dear SelfKey Astronauts,
A potential bull market for the crypto industry seems to be around the corner.
Technical indicators and fundamental indicators are all pointing towards this. Bitcoin is once again in the news for all the right reasons, and the same has already triggered an influx of new users to crypto.
However, this time around, DeFi, the new kid on the block, could play an equally important role.
DeFi has already been an integral force in raising the crypto market from its temporary slumber during the start of this year.
With real-world use cases, it may be safe to assume that DeFi will continue to play a vital part in a potential bull market.
With higher yields, ease of accessibility, and lack of centralized censorship, DeFi is arguably competing directly with the mainstream financial industry, and this could potentially pave the way for more users towards the crypto industry.
However, mainstream attention for DeFi and a rise in the number of users may well speed up the need for regulatory compliance. If the recent reports are anything to go by, regulations to DeFi platforms are becoming more and more imminent.
With an increased demand for regulations that respect user privacy, authorities are starting to implement stricter laws that will safeguard user privacy.
All these factors could drive the need for decentralized identity management solutions, which will have an even more significant role to play in shaping the future of the crypto industry.
SelfKey has the potential to be a critical project in this space by offering decentralized identity management and security services that prioritize user privacy.
SelfKey Wallet users can securely store and maintain their personal data by using the SelfKey Wallet and can use this data to access a variety of crypto and other financial related services through the SelfKey Marketplace.
Besides, SelfKey Wallet users could now utilize the Certifiers Platform to notarize their documents with the help of real-world notaries.
The SelfKey Identity Wallet is a free identity solution for Windows, Linux and Mac. Get yours today!