{"product_id":"暗号資産","title":"Crypto assets","description":"\u003cdiv\u003e Due to the COVID-19 pandemic, countries around the world adopted ultra-low interest rate policies, while the growth rate of money supply reached a historically high level, diluting the value of fiat currencies. As a result of the excess liquidity market, surplus funds flowed into Bitcoin. With the total market capitalization of crypto assets exceeding $1.7 trillion, Ethereum, the second largest cryptocurrency, has rapidly expanded its market share from 8% to 12%.\u003c\/div\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e\u003cbr\u003e\u003c\/p\u003e\n\n \u003cp data-mce-fragment=\"1\"\u003eOf the approximately 4,000 Dapps deployed on public blockchains, 80% are Ethereum. DeFi overtook games, which were the main Dapp category until 2019, in 2020, becoming the top category. DeFi's TVL increased from $10 billion at the end of the year to $40 billion in just a month and a half, equivalent to the deposit volume of a mid-sized regional bank in Japan.\u003c\/p\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e\u003c\/p\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e The expansion of DeFi is driven by the growth of DEXs such as Uniswap and lending services such as Compound. Yield farming, where borrowed crypto assets are lent out and interest is earned through multiple DeFi platforms, is becoming popular. Liquidity mining involves the free distribution of governance tokens, which allow investors to generate capital gains.\u003c\/p\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e\u003c\/p\u003e\n\n \u003cp data-mce-fragment=\"1\"\u003eScalability issues include soaring gas costs due to the auction system, where high fees are processed first. Since no KYC is required for transactions, it provides privacy to criminals and can be exploited for money laundering. There are also many other issues, such as the misuse of administrator keys, rampant scams, and a chain of bugs due to composability.\u003c\/p\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e\u003c\/p\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e Securities laws regulate misconduct by intermediaries, so a completely new legal system is needed to regulate DeFi. DeFi is rapidly expanding, and governments around the world are concerned that decentralized crypto assets will have an impact on the real economy. In order to maintain centralized functions, governments around the world are rushing to develop digital currencies (CBDCs).\u003c\/p\u003e\n\n\u003cp data-mce-fragment=\"1\"\u003e\u003c\/p\u003e\n\n\u003cp\u003e Report format: PDF (8.107MB)\u003c\/p\u003e\n\n\u003cp\u003e Original data: PowerPoint, 108 slides, A4 size\u003c\/p\u003e","brand":"Office Gahaku","offers":[{"title":"Default Title","offer_id":39285411119236,"sku":"","price":500000.0,"currency_code":"JPY","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0379\/8322\/3940\/products\/5c16f5ee3fb6a8565a65abb988a8e376.jpg?v=1616654085","url":"https:\/\/office-gahaku.com\/en\/products\/%e6%9a%97%e5%8f%b7%e8%b3%87%e7%94%a3","provider":"Office Gahaku","version":"1.0","type":"link"}