This was surprising to know. The interesting thing is though the last time it happened, the world was reeling under the increasing oil prices in the 70s-early 80s. But there is something different this time. Unlike the 80s, when a CD (Certificate of Deposit) would have fetched anywhere between 10 to 18% interest, this time people are on their own.
DeFi Protocols (Maker DAO, Aave, Compound, Anchor etc.) and CeFi Platforms offer some alternatives in terms of stablecoin deposits but they haven't yet gone mainstream which I suspect is due to the complexity and skepticism that surrounds Defi and CeFi.
Would love to know your thoughts on what will make defi or cefi go mainstream as an alternative to tradfi? Also, if you can, get your inputs on something we are building to make defi more accessible here
Reference
https://www.wsj.com/articles/inflation-is-near-a-40-year-high-heres-what-it-looks-like-11639737004
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