ReDeFi is the Future: Why Onchain Money is Leading the Way
The world of finance is changing. More and more people are adopting digital banking, and the landscape looks more promising than ever.
Waiting for wire transfers or getting hit with hefty fees for cross-border transactions should be a thing of the past. This year, it’s all about DeFi — and to be more precise, Regulated Decentralised Finance. But why and what’s behind this shift? How ReDeFi & Onchain Money fit into all these?
Let’s break down the top trends driving the true future of finance and explore why ReDeFi is becoming the go-to solution for a better financial system.
The Rise of Decentralisation 🚀
Traditional finance relies on centralised systems where banks and intermediaries dictate the flow of money. This often leads to delays, high fees, and limited accessibility. Enter DeFi: a decentralised model that hands control back to the users. The result? Transactions that are faster, cheaper, and more transparent (with the help of smart contracts and blockchain technology).
ReDeFi and our flagship product Onchain Money, stand at the forefront of this revolution, offering a decentralised, tokenised system for real-world currencies like GBP, EUR, and USD. Picture sending money across borders with the same ease as a domestic transfer, minus the old-school inefficiencies and costs.
Global Financial Inclusion 🌍
Blockchain technology can open the doors to global financial inclusion, the core mission for BABB and to an extent, ReDeFi. In many areas, access to basic financial services is either limited or non-existent. The beauty of DeFi is that anyone with an internet connection can join the global economy — whether for remittances or online purchases — without relying on traditional banks.
With Onchain Money, users will be able to send and receive money instantly to and from any bank account via the BABB app. Utilising a long-time partner, Clearbank, the first Onchain Money to be launched is Onchain GBP. This will be integrated seamlessly with the traditional bank system and can be used by any other bank, financial institution, business or user.
Sustainable Development Goals (SDG 8): Promoting Financial Inclusion
A vital part of Onchain Money and ReDeFi’s mission is supporting the United Nations’ Sustainable Development Goal 8 (SDG 8), which advocates for inclusive and sustainable economic growth and financial inclusion for all. Financial exclusion is a persistent challenge in many regions, where access to basic financial services is limited.
By integrating tokenised fiat currencies into a decentralised system, Onchain Money enables underserved populations to access essential financial services. Whether you’re a small business in a developing nation or a migrant worker sending remittances home, Onchain Money ensures secure, low-cost, and efficient transactions, breaking down barriers to financial participation and creating economic opportunities for millions. All we need (from our side to accomplish this) is to integrate with any regulated bank or a financial institution that has access to that country’s central bank.
The Tokenisation of Assets 💸
Tokenisation is one of DeFi’s hottest trends. From art to real estate, turning physical assets into digital tokens allows for fractional ownership, liquidity, and smoother transactions. This concept extends to fiat money as well. By tokenising fiat currencies, Onchain Money enables users to trade and transfer money more efficiently while maintaining the stability of traditional currencies.
Forget complex exchanges between ETH, USDT, and GBP, or going through a centralised exchange to convert, sell and send fiat to your bank account. With Onchain Money, you get direct, low-cost and most importantly near instantaneous finality in a decentralised network. It’s about making money flow the way we’ve always wanted: quickly, securely, and without borders.
Enhanced Privacy and Security 👮♀️
With growing concerns about privacy and data breaches, ReDeFi’s promise of enhanced security is more crucial than ever. Blockchain technology ensures that transactions are not only transparent but also immutable, minimising the risk of fraud.
Onchain Money leverages that to offer more secure, private (through our privacy-focused L2 blockchain), and auditable transactions. Users can move money confidently, knowing their data is protected while still enjoying the transparency that blockchain provides.
The Decline of Intermediaries 👥
Intermediaries like banks and payment processors often slow down transactions, add fees, and create inefficiencies. ReDeFi removes these middlemen, allowing for P2P transactions on decentralised platforms.
Onchain Money exemplifies this shift as well. By eliminating the need for intermediaries, businesses can enjoy cross-border transfers and significant cost savings, while users benefit from lower fees and faster transaction times at the same time.
So why ReDeFi is the Future of Finance? 🤔
Well, the demand for actual scalability and interoperability is paramount. In Web3, most protocols forget that the real target is not just crypto users. And so far, we’ve only seen faster TPS blockchains, defi flywheel protocols, fancy NFT clubs and so on.
ReDeFi & Onchain Money can actually make a difference though, since we don’t just rely on making a product better than hundreds of great protocols out there, but make something that economically makes sense, and people use.
By the way, we are hosting our $RED presale on Gempad starting the 7th of October. Want to participate and contribute? Read more on the card below! 👇
📖 Learn More:
- Presale Landing Page: Join the RED Presale
- All Official Links: Linktree
About ReDeFi
ReDeFi is a Financial Infrastructure Platform (FMI) merging TradFi and DeFi. It uses a Substrate Layer-1 blockchain for decentralisation, while the Layer-2 sidechain focuses on privacy for B2B cross-border transactions, banks and financial institutions clients and so much more. The MVP is Onchain Money, a tokenised deposit system that mirrors fiat currencies in traditional bank accounts on-chain, enabling transactions using standard bank details.
Risk Disclaimer:
Don’t invest in cryptocurrencies unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
