Combining fintech and Defi for an advanced tokenized platform
Technological innovation and growth are vital aspects of fintech development, and DeFi (Decentralized Finance) promises a dynamic revolution in its progress. DeFi services make use of smart contracts and cryptocurrencies to recreate conventional financial instruments and build new ones.
As the services deploy decentralized, permissionless blockchains as their settlement layer, DeFi platforms are available to anyone with access to cryptocurrencies.
DeFi presents substantial benefits, including democratized access to financial services and products, easier access to liquidity, faster innovation, improved market efficiency, and enhanced financial privacy.
How DeFi is better than Traditional Finance
With DeFi, building new solutions by creating and combining new protocols is a much easier process than taking the regulated path of traditional finance. There are several properties that enable DeFi to do this, such as:
- Standardization — Since public blockchains are essentially permissionless, every API is contactable and open by default in the same manner. In fact, if someone creates a new token, it is extremely likely to be on the ERC20 standard, as a plethora of wallets, applications, and exchanges support this token from day one.
- Composability — Services can be composed with each other to build new products out of their combining parts. That is why DeFi is combined with the financial framework where you can easily build the fundamentals together. Therefore, instead of creating functionality from scratch for any financial product, you can plug in a suitable protocol into one of the existing decentralized exchanges that fulfill the needs of the product.
As DeFi is almost completely open-source, the code used to create new protocols is entirely transparent, thereby enabling the community to copy and learn from itself. This has led to tremendous success in exceptional cases.
Therefore, DeFi is, by all means, the next step for fintech to achieve a new and revolutionized global financial platform. Bondex stands at the frontier of this revolution — by providing a Fintech-enabled talent ecosystem that combines the best of both worlds.
Bondex: A Fintech and Blockchain-enabled Talent Network
Bondex is a talent ecosystem that is powered by fintech for the future of work. It is developed on a global talent network that is enabled by its native cryptocurrency BNDX and is hosted on the decentralized internet system.
It is a pioneering decentralized P2P professional network that leverages blockchain within an end-to-end cohesive experience across crucial elements of sourcing and managing talent. This network includes payments and upskilling implemented within a unique revenue-sharing tokenized model.
The talent ecosystem by Bondex facilitates companies and organizations with finding and hiring the right talent, thereby making it safer, accessible, and cheaper.
It also provides better economic and professional opportunities to professionals who are able to trade their services to the companies and monetize their data and professional networks at the same time.
The Bondex Token — BNDX
On the Bondex ecosystem, transactions occur in various currencies, including fiat, all depending on the case of use. A part of the ecosystem’s total income is allocated to the network rewards and bonuses.
This enables and incentivizes the users of Bondex to partake in the value of the ecosystem for better success and growth. The economic model of the Bondex token is designed to maximize:
- Creation of network effects
- Alignment of incentives for all stakeholders
- A mechanism for devolved governance and progressive decentralization
- Economic rewards for the users in the ecosystem beyond the currently used business models
BNDX, the native currency of Bondex, is the medium of exchange for Bondex network jobs, incentives, rewards, and staking. BNDX is a type of utility token that enables network participants to access premium features and services within the ecosystem.
BNDX is also used to drive engagement and participation through incentives. It is used as a means for holders to take part in crucial governance decisions that affect features of the platform, revenue distribution, fees charged, and tokenomics.
The uses of the BNDX token include:
- Data monetization and distribution of value
- Network incentives and rewards
Compared to traditional finance, DeFi is accelerating at a pace faster than ever before when combined with Fintech. In the near future, it will achieve even greater results.
Bondex combines the best of both worlds to create a decentralized global community where professionals can easily access and find jobs, learn new skills, stay informed, support each other to succeed, and build productive relationships.
Its decentralized P2P network utilizes a new financial revenue-sharing business model that shares more profits among the hiring companies and the global talent pool. It redefines the economic model of a professional network, and better aligns incentives for long-term growth and value creation.
All of this makes the Bondex network a community that is owned and managed by its own users. It shows the perfect case for the successful combination of DeFi, Blockchain, and Fintech to create an advanced tokenized platform.