EFG IS A TECHNOLOGY, NOT A BANK
EFG is a technology, not a bank nor does it hold any institutional licenses. It’s simply a protocol — a set of rules and instructions executed by blockchain programs called smart contracts. So, is it true that technology can be better than a bank?
Well, it all boils down to the use of digital assets rather than physical ones. Just how Spotify has replaced vinyl and CDs, so are digital assets replacing things like money and property.
There is no need to trust your exchange, broker, or custodian. You maintain full control and keep your funds more safety, like holding your cash in a safe or using a crypto wallet. EFG is a completely fungible ECRC20 token.
Is EFG secure?
Blockchains are by nature secure technologies. Of course, there are extreme circumstances where they might be abused, but even the traditional banking system isn’t immune to vulnerabilities.
However, what makes most blockchains special is that they are decentralized, meaning not controlled by any one person, group, or organization. Instead, transactions are validated by all the people connected to the network, so it’s very difficult for someone to defraud people.
And what about the protocol’s smart contract? How secure are they?
Smart contracts are similar to standard contracts except they’re digital and executed autonomously. They are only as good as the code they have written in. however, EFG dApp has had its smart contracts independently verified. EFG team regularly publishes security audits and announces bug bounties to squash flaws in the smart contract’s code.
EFG is one example of cutting-edge technology, helping people achieve their financial goals. It’s not a bank, but it doesn’t need to be — its programming and model automate financial services in ways most banks can only dream of. So, we hope you achieve greater financial freedom as a result.
#EFG #DeFi #Token
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