“[Financial] technology can reduce transaction costs, generate distributed trust, and empower decentralized platforms, potentially becoming a new foundation for decentralized business models. In the financial industry, this technology allows for the rise of decentralized financial services, which tend to be more decentralized, innovative, interoperable, borderless, and transparent,” says in a research paper published in the Journal of Business Venturing Insights.
For example, opening a bank account requires tedious processes, including a lump sum amount of money. For those working from paycheck to paycheck, producing such an amount can be challenging, limiting them from having a bank account. Now, DeFi innovations allow anyone to have a bank account without going through lengthy processes.
Such innovations allow users to participate in financial services by transforming the current system. Through DeFi powered by FinTech, millions of people can now access financial platforms that are only limited to wealthier classes.
The traditional financial system uses monetary transactions through financial institutions such as banks.
On the other hand, decentralized finance enables digital transactions that are not run by any centralized channels and distinct currency values.“Decentralized finance (DeFi) does not use a centralized authority to maintain currency values across nations.
Due to the inequalities observed across the different financial systems worldwide, the necessity of enabling convenient cross-country or cross-currency exchanges was developed,” states in an analysis report by Jenco, a FinTech company that offers decentralized trading and lending services.
Any third-party intercepting the communication cannot see the contents of the packets being sent.
It allows you to access unblocked websites and geo-restricted content on the internet because the destination server reads the masked IP address.
Internet communication takes place on several layers – from the link layer to the application layer.
Point-to-Point Tunneling Protocol (PPTP) was introduced back in 1999 by Microsoft, making it one of the oldest VPN protocols.
One area where it’s prominent is mobile devices, primarily because IKEv2 can reconnect easily in the event of a disconnection, and retain stability as the device switches between Wi-Fi and cellular data, which is why it has native support on iOS.
The only downside when you increase encryption strength is speed.
GRE Protocol (Global Restricted Language Protocol) is a relatively new IP networking technology that was created in 1982 by Ethernet specialist Larry Roberts and Bill Atkinson.
This simple, low-level routing protocol was developed to provide a mechanism for IP networks to establish a fast connection through multiple low-speed connections.
Later, a much more efficient and advanced variant of the GREP was developed, which is widely used today.
An interesting characteristic of the GRE protocol is its ability to use 'gre' as a synonym for IP packets.
The packets of an IP packet do not need to contain the IP address; rather, they can be tagged with the 'gre' prefix, where 'gre' stands for 'Gateway'.
A typical GRE protocol consists of three bits: the first bit is reserved for the destination network, the second for the source IP address, and the third for the secret algorithm.
