🚧Barriers to De-Fi Adoption

Good to know: Page data source: The Ascent survey of 2,000 American adults, conducted May 6, 2021 and May 25, 2022

Decentralized finance (DeFi) has the potential to revolutionize the financial industry, but there are several barriers to widespread adoption.

One major challenge is that DeFi is still a relatively new concept, and many people are not yet familiar with how it works.

Another issue is that the technology is still in its early stages, and there are often bugs and glitches that can make using DeFi platforms challenging.

However, one of the biggest barriers to DeFi adoption is the fear of scams.

Because DeFi is decentralized, there is no central authority that can provide protection or guarantees against fraud.

This means that users are responsible for their own security and must be extra cautious when investing their money.

Unfortunately, there have been many high-profile DeFi scams in recent years, which have made users even more wary of the technology.

Addressing this issue is critical to building trust in the DeFi ecosystem and encouraging more people to use these platforms.

The following table illustrates this.

Table 1 - Decentralized Finance

I don't understand how it works at all	21%
I understand how it works a little bit	25%
I understand how it works very well	17%
I've never heard of blockchain technology	23%
I understand some of how it works	16%

Table 3 conclusion: 17% claim to understand decentralized finance, 23% never heard of it, leaving 60% lacking understanding of what decentralized finance is, indicating a large addressable market to be on-boarded

Conclusion

DeFi has a huge potential market, but many new users are hesitant to join due to safety concerns and the need for reliable information.

The Decanect team believes that the key to overcoming these challenges is to provide better, more transparent data.

With our cutting-edge tools, you can stay up-to-date on new token launches in real time, allowing you to make more informed investment decisions and avoid scams.

We also help you save time by doing the research for you, presenting you with only the most promising opportunities.

At Decanect, we're dedicated to keeping you safe and informed in the exciting world of DeFi.