The financial industry is a complex system that can’t easily be explained, and it’s been this complicated since Adam Smith penned his famous treatise – if not before. But one certainty that can be stated with clarity is that being content with the status quo will ultimately lead to collapse, and the institutions that innovate will succeed while others fail.
Decentralized Finance or DeFi is the most recent innovation for financial markets based on blockchain technology. Its fundamental purpose and greatest potential are to enable financial independence for any person or business, and it promises significant financial growth for its users. Nimbus Platform specializes in solutions that meet the needs of individuals with their DeFi products and through its interface with other blockchain systems. Nimbus Platform provides users with the tools they need to unearth financial rewards, tools that they can’t find in any other single platform.
The lack of third-party institutions on blockchain-based platforms may concern those exploring DeFi. They are used to banks and brokerages ruling the market and may be suspicious of systems that are not backed by physical currency or tangible value. Although individuals, businesses, and even countries have been hesitant to adopt Crypto, they should understand that Crypto and DeFi aren’t actually new financial systems, but new technologies that can be utilized for greater financial benefit.
As Alex Lemberg, CEO of Nimbus Platform explains, “It’s essential to understand that this movement to the blockchain isn’t something that we haven’t experienced before. We have seen many phases of technology come and we have leveraged them.” Lemberg should know, having seen many new technologies in over 27 years of experience in fintech. He has also witnessed how these technologies can revolutionize the financial industry. In his opinion, new technologies are not only critical for innovation but constitute the major reason why traditional financial institutions stay in business.
The Nimbus Platform offers users the opportunity to enter the DeFi ecosystem while it is still developing and hasn’t determined procedures that can limit who can be involved. At present, users across the world have linked their DeFi wallets to the Nimbus cross-chain platform.
If prospective users are wary of DeFi in general or the Nimbus Platform in specific, that concern may stem from news stories describing Crypto as risky, simply because there isn’t a tangible entity backing a currency should its value collapse. However, this reporting usually ignores the benefits Crypto offers. For instance, many populations need independence from the traditional institutions offered to them, and the ability to avoid government control offers a lifeline for people such as those trapped in North Korea.
The team at Nimbus is aware of the criticisms slung at the Crypto marketplace and has already taken steps to address the issues other platforms have been slow to acknowledge. Nimbus is based on smart contracts or digital contracts designed to function with complete transparency and execute only when certain conditions are met. This enables both parties to be aware of all the conditions of a given transaction and to prevent any loopholes that could be exploited by one side.
The Nimbus Platform focuses on offering DeFi solutions to all who search for them. From newcomers to Crypto to veteran enthusiasts, any level of user will find that Nimbus offers services that meet their needs. Products such as liquidity pool staking, cross-platform transactions, lending and borrowing, and an NFT exchange offer some of the many opportunities users can explore. The platform’s goal is to provide an intuitive and seamless experience for any user, and it delivers rewarding activity while providing the security and transparency all users require.
The potential for Nimbus’ growth and its goal for everyone to achieve success is best expressed by Alex Lemberg: “The theme and concept behind all of these things are that we’re a decentralized company. We want to actually push into the DeFi environment and help banking institutions and people to participate in that world.” As the DeFi market expands and develops Nimbus will grow and prosper along with it.