Yotam Dar On All Things Fintech

Image Source For those unfamiliar with the exciting new world of decentralized finance (DeFi), it is essentially a blockchain-based form of finance that is not reliant on traditional financial intermediaries such as banks, exchanges, and brokerages. The idea behind this novel technology is to use blockchain to solve many of the long-standing issues that plague the central banking industry, such as high borrowing rates, slow transaction speeds, lengthy application processes, and a lack of transparency. The amount of capital locked in DeFi protocols is at an all-time high as of October 2021 , demonstrating how quickly businesses and consumers are adopting this technology. However, whenever a new industry grows exponentially, there will always be inherent risks for the early participants, especially when there is a clear lack of regulation. An industry fraught with scammers DeFi protocols are without a doubt the most vulnerable to cybersecurity threats.  Hackers broke into Poly Network, a