If you spend any time looking at cryptocurrency today, you will come across the term “open finance”. Finance refers to the traditional systems and structures we use to move value around the economy. You can do things like take out a loan or buy insurance to hedge against a future risk. The “open” aspect of this term comes by analogy to open source software in the technology community. Open source refers to the availability of the source code powering some software and has come to represent a strong ethos around transparency and collaboration with anyone who can access the internet. The permissionless nature of cryptocurrency lets us realize these traits in new productions resembling the traditional things with open values at their core. The exciting bit are the current and future applications built in this paradigm. You aren’t bottlenecked on your bank to update an interest rate. In many cases updates like this happen automatically in the networks these “open finance” systems live in. And in the cases where it doesn’t happen automatically, you can do it yourself!