— DeFi —

Decentralized Finance (DeFi) or Open Finance Development Services

Being an early adopter of Blockchain technology, we have gained huge
expertise in building high quality, scalable distributed applications and customized protocols.
We specialized in Proof of Concept (POC) development and we have successfully
developed multiple POCs till date across various industries.

Decentralized Finance (DeFi) or Open Finance Development Services

DeFi – short for Decentralized Finance – or more aptly termed Open Finance is perhaps the most revolutionary concept in the Blockchain value chain. In addition to that, it is also known to be the biggest disruptor in today’s financial system. It refers to democratizing the financial ecosystem using a decentralized, non-custodial infrastructure. DeFi development and services cover all the tenets of a financial ecosystem like borrowing and lending, exchange and trading, investing, and risk management. It is a huge development from the current closed financial economy to plain and simple open finance, making it available to the millions of underbanked or unbanked population.
Instead of relying on conventional banking or finance methods, DeFi utilizes smart contracts on blockchains giving people the ability to control various financial services like borrowing funds, lending funds, raising assets, trading cryptocurrencies, and providing insurance without the actual need of a financial intermediatory. At Sofocle, our experts serve the best DeFi solutions to our clients, therefore, making the need for a mediating financial authority almost redundant.
Of late, DeFi has piqued the interest of many thanks to the ease by which one can create real-world assets such as currencies. It has also allowed folks to borrow and lend cryptocurrencies to earn money via interest. Of course, our DeFi development services have also been extended to clients across the globe, making Sofocle one of the most trusted DeFi development companies across the globe. That’s not all, however, as DeFi has much more benefits than just being a non-mediated service. So, for your convenience, we’ve listed all the key benefits of DeFi down below.

DeFi or Open Finance Services and Solutions

Verity One has been a leading Blockchain and Smart Contracts development company. Verity One has extended its Blockchain expertise to DeFi services and solutions. Verity One helps you build decentralized applications (dApps and Smart Contracts) for various financial services in Open Finance.

Programmable Assets

The DeFi apps allow financial processes to be managed by rules written in the code using Smart Contracts. The financial instruments and digital assets are created using Smart Contracts and all the transactions can be done in a peer-to-peer network without the intermediation of institutions. Smart Contracts manages the transaction trail leading to high transparency and Auditability.


The transactions on DeFi are tamper-proof and stored immutably on the Blockchain network. Any user can validate and verify the transactions leading to enhanced security and Auditability.

User Access Control

The users have complete control over their private keys to manage their assets. Anyone from anywhere can be part of the DeFi network and avail of financial services. Users can directly interact with the decentralized network using their crypto wallets without any bias or lengthy process.


The different DeFi products and applications are able to talk to each other using interoperable standards. Like Lego, the building blocks and DeFi applications can be combined to form new applications and products. For example, an asset management platform combines asset tokenization, asset issuance, and decentralized exchange.