Empowerment through DeFi Education
As more new users entered the DeFi space, asked questions on public forums, and engaged with communities, more documentation came to existance.
Before the “Summer of DeFi,” educational content for new traders in decentralized finance was practically non-existent. Moving beyond more centralized cryptocurrency was beyond daunting or enigmatic, but rather highly technical. Without a good understanding of coding, smart contracts, algorithmic properties, or even economics, the barriers to entry were incredibly high.
After the summer of 2020, DeFi saw a surge of users. These users began their DeFi Journey with increasingly less technical knowledge. Aside from being onboarded into this new ecosystem by a trusted peer, potential traders were reading dense whitepapers or finding advanced trading tips on YouTube. Alexander Szul of RBL remembers reading the same technically dense whitepaper for hours on end, working hard to understand the basics of DeFi.
Now, a high demand for basic educational content is being met. As more new users entered the DeFi space, asked questions on public forums, and engaged with communities, more documentation came to existance. DeFi organizations now typically offer a technical whitepaper, litepaper, FAQ, roadmap, social media presence, podcast, and live community chats to offer support and adoption for their products.
Ashley Spradlin offers one of these many educational resources through the podcast Cryptochicks. Cryptochicks offers both in-depth episodes about complex topics and shorter episodes explaining overarching topics. Ashley’s career in education ensures meaningful learning outcomes and actions from every episode.
Education is one of the hottest topics in DeFi, as the ecosystem onboards new users every day. Whether you begin your DeFi journey with The New York Times series “The Latecomer’s Guide to Crypto” or you get advice from your cousin on Reddit, a wealth of knowledge is being shared in a public forum each day. This is the nature of the decentralized marketplace.
Decentralized Finance is about personal empowerment, trust, and the emergence of innovation. Seeking an education in DeFi, whether through traditionally formal means, active practice, or community recommendations, are all seen as equally legitimate in the blockchain ecosystem. The more a member of the DeFi ecosystem participates, the more knowledge they have, and the more empowered they can become.
Interested in how your DeFi education, practice, and community collaborations may be recognized in the future? Check out this article on Reputation Power.
