What is DeFi?
DeFi, or "decentralized finance," is a general term that covers financial services on public blockchains.
DeFi allows you to do all the same things banks allow, like borrow, lend money, buy insurance, trade derivatives and assets, etc.
DeFi is faster and requires no paperwork.
DeFi, like crypto generally, is global, p
eer-to-peer (meaning directly between two persons, not through a central system), pseudonymous, and open for all.
DeFi expands on the basic idea of Bitcoin, digital money, and creates a whole digital alternative to Wall Street.
However, there are no associated costs such as trading floors, office towers, salaries, or banker salaries.
This could lead to more transparent, fair, and accessible financial markets that anyone with an internet con
nection can access.