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The pandemic has dealt a heavy blow to the wellbeing of billions across the world — millions of businesses have gone bankrupt, tens of millions of people have slid below the poverty line.
As we see, many citizens across the world suffer from the financial damage inflicted by the pandemic.
Now is the perfect time for DeFi to take on and solve some real, hands-on problems. A few years ago, it would have been a peripheral, almost ignored undertaking, while now it has the chance to play an active role in the economy.
Due to the scale of their loss, financial institutions are not always ready or willing to secure the victims with monetary support. There are millions of such victims around the world. Right now we have to take a step away from the localized approach and reliance on the local institutions for help. We have to search for one global, universal solution — and Credefi aims to provide this kind of a solution to its users!
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