Why is Efectus Network Needed for the Defi ecosystem?

Blockchain is growing and that time it grows much stronger than in 2017 December. Bitcoin is almost 30k$, we are in a bull market. But one of the major problem what we do experience is illegal activities.

Exchanges are dealing with hack/scam/money laundering very well. If you trade with centralized exchanges such as Binance, Bitfinex, and Coinbase, you are well protected. When you enter and use Defi then you are at risk as an individual.

Individuals need to use centralized exchanges to deposit cash and withdrawal it. It's how %99 of us started investment or trading of cryptocurrencies. And if you cash out any value that involved any crypto crime then your account and assets will be frozen by exchanges if they don’t do anything, legal authorities will come after you. As an innocent individual, you might need to be part of some investigations or lose your lifetime savings.

There are over 4 Billion $ worth of cryptocurrency values related to illegal activities. The hacker/scammer or money launderer has a serious problem which is laundering cryptocurrencies that are traced by exchanges, institutions, and legal authorities. They have to use Defi platforms to cash out. The individuals who are not experienced enough, won’t notice that off-exchange trading may cause serious legal issues.

Unfortunately, there are not enough protection solutions for individuals. If our target is reaching completely Defi, then-current policies do not solve the issue.

We decided to aim at protecting end users-individuals. We want to offer what the institutions offer for centralized exchanges such as risk management, information about wallets and people, and anti-money laundering.

And we want to do it in a very professional way, the same quality level that centralized exchanges get.

Since no company or exchange offers that style of service, Efectus Network is needed for the Defi ecosystem.