[Analysis] DeFi: What it Is and Isn’t - Justine Humenansky

DeFi is usually referred to as "open finance" innovation aimed at "banking the unbanked." But the truth is, notes, Justine Humenansky, these products aren’t aimed at the mass retail investor, let alone the global “unbanked.” On the retail side, Humenansky continues, it is unreasonable to believe that the average retail investor would understand the risk profile of even the simplest DeFi products. And product-market fit for most institutional investors is not any clearer. In this piece, Humenansky lists the developmental progress, struggles, and successes of the DeFi. Ultimately, Humenansky says that the key point is to acknowledge that while challenges to DeFi "are persistent and numerous, the industry is far from stagnant, and real and rapid progress is being made."