I found this article about the IFS, by OnomyProtocol, I thought it was interesting to share.
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What is the Internet’s Financial System (IFS)?
Exactly what it sounds like. It’s an alternative financial system residing on the web. One that abstracts away all on-chain complexity and is more akin to traditional finance, yet retains the crypto ethos and all the cutting edge features that come with it.
In simpler terms, pls? Whether you shop, chat, play, engage, create, deploy, trade, collect, or distribute, you’ll be interacting with on-chain tech. But you’ll never know it. By the time the IFS is here, it’ll all be second nature. Just like CTRL+C or putting your computer to sleep after you’re done with it. And this won’t be just you, technophile. It’ll be everyone.
Why? The IFS enshrines blockchain principles of transparency, community ownership and trustless authority, but lets institutional money and traditional finance offer their services through this medium that’s custom built for the evolving internet.
