When you travel abroad,
Have you ever exchanged money at the airport
I am sure that you have exchanged money at the airport when you traveled abroad.
In fact, you probably know that those exchange offices
commission is very high.
Did you know that the commission is very high?
Even though the commissions are high,
There are two main reasons why we use money changers,
There are two main reasons.
For example, if you have $100 in your pocket
and you want to convert it to Japanese yen.
You have 10,000 yen worth of US dollars, and you want to convert it to Japanese yen.
However, if there is no one around you
If there is no one around you who wants to buy US dollars, you cannot convert them into Japanese yen,
yen if there is no one around you who wants it.
This is the reason 1.
You can’t find a partner by yourself.
If you
have no one to exchange U.S. dollars
and you are in trouble,
A stranger comes to you and says, “Please sell me US dollars,
“Please sell me some U.S. dollars.
You are in trouble because you don’t have anyone to exchange US dollars.
You are in trouble because you don’t have anyone to exchange US dollars,
You are worried about doing business
I would feel uneasy about doing business with someone I don’t know.
This is Reason #2.
I don’t trust the other party.
Even if you understand the theory,
I have to do it by myself every time.
It’s a hassle to do it by yourself,
I pay for it and ask them to do it for me.
Recently, however,
Recently, however, a new service has emerged that overturns the conventional wisdom
new services are emerging that will change the conventional wisdom.
If this service becomes popular,
If this new service becomes popular, it will be
services at a much lower cost, if not for free.
services at a lower cost, if not for free.
Conventional financial institutions
have centralized information and authority
information and authority to themselves.
This type of system is called
centralized service.
On the other hand, a new mechanism
On the other hand, a new mechanism that has recently emerged
decentralized services.
What are decentralized services?
A simple analogy is a vending machine.
A vending machine.
You put money into the vending machine
You select a product,
and the product and change come out.
There is no one in between
No commission is charged,
Just put your money in and push the button,
You just put in your money, push the button, and the item is automatically yours.
“Cheap commission,
“With low fees, users can use the service with peace of mind, and it works almost automatically,
“A service that works almost automatically.
That is exactly what the financial industry is moving toward.
is moving in exactly that direction.
Starting with Bitcoin,
insurance companies, and brokerage firms,
“Let’s move to a decentralized service
“to a decentralized service where people can trade securely
“The whole industry is moving in that direction,
The entire industry is moving toward a de-centralized service that allows people to trade securely with each other.