IN AND OUT OF PERSISTENCE, THE ECOSYSTEM OF SOVEREINTY

Persistence is a non-conflicting or interoperable Middleware which fuels Debt Marketplaces responsible for matching facilities with surplus capital (lenders) with those that require finance (borrowers).

The promotion of smooth transaction of value on a global scale for the purpose of increasing the speed and execution of cross-border businesses and funding is the mission of Persistence.

  • Obstructions to the adoption of DeFi such as the use of strictly Crypto-assets as collateral when compared with traditional finance where ‘real-world’ assets like business documents such as Bills of Exchange (like invoices but for international trade), invoices, and Bills of Lading (document showing ownership of goods on a ship) are used as collateral to receive short-term loans. Meanwhile, Stablecoins in the Cryptocurrency ecosystem cannot be borrowed except when other Crypto-assets are used as collateral (usually to leverage up). Another obstruction is the insufficiency of infrastructure around holding Crypto-assets, one can easily observe that SME traders and businesses are not even close to or prepared to use Crypto-assets on a frequent basis because owning Crypto-assets is very necessary to be able to pay for gas, which of course, is likely to be highly variable and costly, and risk management strategy around multisig and private key management are complex. Data Privacy issue is another obstruction to the adoption of DeFi. When there is an inadequacy of strict SLAs around data access, exposure of data and availability of malicious activity, the adoption of DeFi becomes a tough decision for institutions to make. Beside, exposure of transactions and application logic plainly advances to obstructions for institutional adoption of Open Finance.

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