Charles Hoskinson predicts that the decentralized financial sector will gain 100 million users over the next three years by exploiting the potential of new global markets.

Who will actually give peer-to-peer loans? Who really wants to handle peer insurance? Who will actually make peer payments? I have news for you, not for the person who lives in New York, “Hoskinson said in an exclusive interview with Cointelegraph.

Cardano, a decentralized cryptocurrency network founded by Hoskinson, intends to take the lead in the DeFi space by developing partnerships across the African continent.

According to Hoskinson, the DeFi products do not have a large customer base, and the industry has not been able to gain a foothold in the West due to the tight regulatory environment.

On the other hand, developing countries offer a more flexible set of rules that promotes innovation in coding.

“No JPMorgan Chase. He pointed out that there is no giant financial system that dominates and controls. ”

Finally, according to Hoskinson, DeFi can “provide liquidity to the world’s poorest people and enable them to amass wealth and protect the wealth they receive.”

“We created Cardano for this,” he concluded.

Source: CoinTelegraph