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Money 2.0 Stuff: The Open Finance value proposition

Identity crisis 
One way of thinking about the value proposition of Open Finance is as some combination of the following properties: 
1. Permissionless
Permissionless access both for users (self-custody, no KYC, censorship-resistant) – particularly for those currently underserved by the legacy banking system — and developers, who can combine these interoperable financial primitives to iterate on financial products at speed and with ease. 
2. Transparency
Obscurity compounds risk. Providing financial products built on transparent infrastructure and collateral helps better assess risk profiles. We often describe cryptocurrencies and blockchains as ‘trustless’ which is perhaps confusing semantically because the good ones should really serve to augment trust.  Join Genesis now and continue reading, Money 2.0 Stuff: The Open Finance value proposition ! shares this Contents with License.

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