Decentralized Finance (DeFi) is one emerging sector in the crypto industry that has been in the limelight for a while. DeFi protocols offer users access to peer-to-peer digital exchanges, eliminating third-party involvement like banks.
The DeFi sector boycotts the charges and payments often requested by banks in running traditional finance transactions while maintaining a secure system. However, Brad Mills believes the purpose of Decentralized finance is defeated.
The Entrepreneur took to Twitter to express his disappointment with the network for denying users access to decentralized exchanges (DEXs). Mills lamented about the access denial of DeFi users on Ethereum due to location and wallet content.
He shared an image showing a pop-up message from 1inch Networks dApp denying access due to a restricted wallet address. He also said the future Web3 is a surveillance panopticon. Moreover, developers rebuilt all the faults of Wall Street on a blockchain.
DeFi Protocol 1inch Gives Reasons For Wallet Access Denial On Its DApp
1inch’s chief communications officer, Sergy Maslennikov, told reporters that wallet restriction is part of their strategy to ensure a safe and compliant community. The executive listed the category of wallets that the 1inch dApp restricts. These include wallets that engage in criminal…
