DeFi provides investment instruments such as loans on a blockchain without requiring a centralized authority to oversee them. DeFi is instead controlled by a series of smart contracts that are authored to make sure that all participants in the financial sector have their best interests represented. All of this simply means that you have a decentralized network (the blockchain) in charge of ensuring that all economic participants are satisfied. If you’ve ever heard someone talk about DeFi, there will be many terms that you are unaware of.
All this information should put you in a slightly better position to discuss DeFi and how it could affect you. Unfortunately, this is only scratching the surface, and there is much more to consult regarding DeFi.
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