DeFi (decentralized finance) does

DeFi eliminates intermediaries like banks and exchanges

DeFi platforms use smart contracts on blockchains to provide financial services without traditional intermediaries. This reduces costs and increases accessibility for users worldwide.

Example

Users can lend or borrow funds directly through DeFi platforms without needing a bank.

Remember this

Eliminating intermediaries can lead to lower transaction fees and faster access to financial services.

Text adapted from Wikipedia, licensed under CC BY-SA 4.0.

Related concepts

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Deflation

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2008 financial crisis

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Educational content, not financial advice.

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