Video Introduction To Defi
Decentralized Finance
DeFi is slowly taking over centralized financial institutions, if you have not heard of it, take some minutes out of your time to find out what it’s all about in this video series.
The term DeFi stands for Decentralized finance which is the opposition to centralized finance as the name suggests, according to Investopedia, DeFi is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies.
Video Introduction To Defi
One of the best advantages of DeFi is that it requires less KYC or none at all. this might seem like a small advantage but it’s seriously not.
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In the United States, the Federal Reserve and Securities and Exchange Commission (SEC) specify the rules for centralized financial institutions like banks and brokerages, which consumers depend on to access capital and financial services. DeFi challenges this centralized financial system by empowering people with peer-to-peer digital exchanges.
Decentralized finance eliminates the expenses that banks and other financial companies demand for using their services. People hold money in a secure digital wallet, can transfer funds in seconds, and anyone with an internet connection can use DeFi.
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