The nature of blockchain allows for trustless systems to be built on top of it. Users don’t rely on a centralized group of people, such as a bank, to make decisions and allow transactions to flow through. Because the system is decentralized, users know that transactions will never be denied for non-custodial reasons.
This decentralization enables use-cases that were previously impossible, such as parametric insurance, decentralized finance, and decentralized organizations (DAOs), among a few. This allows developers to build products that provide immediate value without having to go through a bureaucratic process of applications, approvals, and general red tape.
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