The DeFI revolution is here.
In fact, DeFi – short for Decentralized Finance – is changing everything about global finance.
It’s leading to borderless, open alternatives to just about every financial program out there – bank accounts, loans, trading, you name it. All while eliminating the need for a central authority like you’d find in traditional finance.
Or, as Benzinga says, “In a financial world that is becoming increasingly digital, DeFi focuses on bringing the convenience of peer-to-peer transactions to investors. By harnessing the efficiency and power of smart contracts — digital contracts that live on the blockchain — DeFi platforms create a space for lending, borrowing, trading, saving and earning interest that doesn’t require all of the usual bureaucracy and minutiae.”
In short, the financial middleman is gone. Better, “Decentralized finance has grown to an $80 billion industry in 2021 and is poised to explode 10-fold, according to crypto investor Matthew Roszak,” as noted by Business Insider.