Over the past few years, the popularity of Decentralized Finance (DeFi) has rapidly increased, leading to permeation into the mainstream financial sector.
For developing countries, adoption of cryptocurrency, while considered relatively volatile as compared to, say the USD, has the potential to stabilize underdeveloped economies with wildly unstable currencies and hyperinflation.
For these country’s citizenry, alternative secure banking on the blockchain may provide the first real opportunities for savings, as compared to native currencies that devalue so quickly making it prohibitive to do so.
For example, countries like Zimbabwe, which have experienced hyperinflation for decades, and Venezuela, a nation with such severe inflation, its handbags, made of actual woven currency can sell for 10,000 times the value of the currency they are made from, could see a significant benefit to mainstream adoption of cryptocurrency. Venezuela has already taken big steps toward adoption with over 2
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