WHAT’S THE BUZZ ABOUT DeFi?
DeFi has become a trending topic in the blockchain community. In contrast to the decentralization of money through Bitcoin, DeFi aims for a broader approach of generally decentralizing the traditional investment and financial industry. The core aim of this initiative is to open traditional financial services to everyone by providing a permissionless financial services ecosystem that is based on blockchain infrastructure.
DeFi boils down to better and faster financial systems that are based on blockchain technology. These systems do not discriminate on geographical location and the individuals are completely in charge. The most awesome thing is that the decentralized model allows individuals to send their value directly from one person to another; it does not discriminate on participation and allows full autonomy as well as transparency about the terms and conditions. This is what we call DeFi.
DeFi CAN EASILY BE DEFINED AS: An ecosystem comprised of applications built on top of public distributed ledgers, for the facilitation of permissionless financial services.” The DeFi community applications are built on decentralized networks, permissionless blockchains and peer-to-peer protocols for the facilitation of lending/borrowing or trading with financial instruments.