Meanwhile, DeFi, using cryptocurrency technology to recreate financial products such as loans and insurance without the need for bank, has surged in popularity over the last year, helping the price of ethereum, the blockchain on which most DeFi projects are built, to soar.
I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.