Recently I've been going through the process of acquiring my first ever apartment 🏠. I couldn't be happier as this means my hard work is finally paying off, and I can have my own place with my wife and have the next part of my life there.
But working in Blockchain and auditing DeFi, I wasn't prepared for how much bureaucracy there will be with taking mortgage loan. It was exhausting! Providing proof for my earning from the last 2-3 years. Providing proof I pay my taxes, and I paid them all. Signing constantly new papers with information that was also available in 2 other documents I already provided. Time-pressure as building developer also was pressuring my wife and me constantly for some info and pushing us towards paying them as soon as possible.
I was and still am exhausted because of all of this. Why do I write about this? Well, I was just starting writing about flash-loans in DeFi. After a long day, it occurred to me how much f*cking easier would it be if there was a secure and stable way to take such mortgage loan in DeFi. Not only that, how much easier the DeFi makes access to certain financial tools for everybody.
I knew that before, of course, but when bureaucracy hits you personally, you start looking at different things in another light. And my case is nothing that uncommon in traditional financial institutions. I'm living in Europe, and I have access to banks and other financial infrastructure. But some people don't even have a standard bank account and, not to say, can take a loan.
DeFi solves this on many different levels, and I'm just happy I can be working towards securing new applications that are coming into this wonderful space.
I'm not discovering anything new here, just wanted to share my view on DeFi from my personal perspective. I can't just wait For DeFi to hit the mainstream. I'm only worried it won't be for another few years until this happens.
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