DeFi industry thriving, says Australian Senator

Australian Senator Jane Hume, speaking at the Australian Financial Review Super and Wealth Summit, stated that the DeFi industry has been prospering in terms of trading.

Senator Hume, the Minister for Women's Economic Security of Australia and representative of the Liberal Party and the state of Victoria, said that DeFi prospects are bright as technology is not going away anytime soon.

Senator Hume spoke to the industry in her speech and urged the government to acknowledge that DeFi is not a fad and is here to stay for a long time. She also advised people to be mindful of the investments they make and to tread cautiously but not fearfully. The conference, which was held in Sydney on November 22, was primarily organized to discuss Super and Government retirement funds, both of which are often regarded as slow investment alternatives that offer steady returns.

Senator Hume said that the DeFi industry is not a short-lived phenomenon and is an industry with extreme potential. Australia must adopt the emerging DeFi sector and not project reluctance when it comes to embracing new technological innovations, she said.

According to a survey conducted earlier this year, it was revealed thatBitcoin has steadily taken over gold in the Australian market.

According to a survey conducted by Kraken, about 40% of Australians prefer cryptocurrencies over real estate investments and think thatcryptocurrencies are a profitable investment option in the long run.