Open Finance: Also known as OpenFi or the Internet of Finance. It is a set of IT business to user (aka B2ME) principles guiding technology projects that adhere to personal privacy and data sovereignty for every end user. The core tenants of OpenFi networks and applications:
- Private
- Trustless
- Borderless
- Transparent
- Decentralized
- Permissionless
- Censorship-Resistant
- Open Source and Platform Agnostic
Many of the above attributes can be found in DeFi (decentralized finance) applications and in other altcoin/Bitcoin projects. Also, Open Finance inherits many of the same attributes as the Internet in general in that its’ core protocols (i.e. BGP, SMTP, SNMP, DHCP, TCP/IP, etc) are open for all to use and build on top of.
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