How much is our data actually worth?There was a time when people move together physically with their wealth. But since safety was often compromised, banks began to emerge guaranteeing security in wealth storage and issuing receipts and banknotes that owners carry around to transact with. Banks as wealth protectors that owners trust faded away a long time ago.Today, banks have a lot more to handle than just peoples\u2019 money. The global financial and economic trends made them highly participative that personal attendance to customer needs have taken a back seat.As we allowed our money to be controlled by the big banks, they have now become busy on how to use our personal funds for vested interests.We can say the same with big tech companies who handle a huge accumulation of personal information, money trails, habits, and lifestyles, called big data. They are out to profit from it.How can we provide a solution then wherein the customer will have control back over their money and personal data? Challenger banks were designed to niche special services to readily respond to customer queries, to little effectiveness. The ability to control one\u2019s finances and personal information without giving up banking services and safeguards might be resting on self-sovereign banking. Decentralized finance, meanwhile, proposed a total exclusion from banks.After the global financial downfall in 2008, Bitcoin bannered the ushering-in of the DeFi movement. With centralized entities colossally messing up with our funds and, consequently, our financial future, consumers have awakened to the fact that they needed to take control of their money since they own it anyway and to be able to do whatever they want with it.DeFi has made good its promise to take back funds and data from legacy institutions with the emergence of cryptocurrencies and various DeFi services. With a \u2018customer-first\u2019 vision,\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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