To understand DeFi you need to know what is a Bank and the bank definition of a bank, banker, banking as defined by law in accordance with the United States Code Service, and, Uniform Commercial Code.
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My name is Northstar and I am the CMTO – Chief Marketing Technology Office of Friday Viral. In this video we define what is a bank, banker, and banking so that you may conceptualize the use of decentralized finance.
0:00 What You Need To Know About Banking
The concept of DeFi for a lot of people is a bit obscure, to grasp the understanding of decentralized finance we need to know about banking.
0:24 What is a bank? Banking Definition
There is a common misperception of what a bank or banking is, and here it is correctly conveyed answering the question for what is a bank.
1:11 Why this is important for you to know?
To be successful, the more knowledge you have about something, the better informed you are. Being well informed and having a solid foundation understanding the fundamentals will help you make better decisions using DeFi.
DeFi is an acronym for decentralized finance, and is non-traditional banking done online and accessible by way of using cryptocurrency, as in Bitcoin, Ethereum, USD Coin, Dai coin, and an assortment of other crypto tokens and crypto coins.
Cryptocurrency as we know it started with Bitcoin and has expanded into the world of investing, also know as crypto investing. It has the potential to make you very wealthy, but with all investments, it comes with risk, and that risk is based on market volatility, meaning trade volume.
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The information provided here in this video series empowers you to take charge of your financial future, especially with personal finance. We all have had some challenges with financing and like most businesses, or, in entrepreneurship, even if you are just trying to fund a dream of yours, the lack of access to funding is stressful, frustrating, and, a lot of times simply puts a halt to what we want to do causing some of us to give up completely. Decentralized Finance with Cryptocurrency enables us to bypass that, giving us an alternative route to finance ourselves and our business without having to depend on outside help from investors, banks, and any other way known for borrowing money.
The more you know the more you can grow, and the better off you are. With the excitement and potential of cryptocurrency, DeFi is unlimited financial power in your hands, and with it you can accomplish and achieve what you want without restriction due to being pegged as uncreditworthy. Circumstance should not be the determining factor as to why you can’t get what you need now with having access to decentralized finance.
Everyone’s financial goals are different, and whatever the goal is for you, decentralized finance via crypto investing is an option you can explore and discover how it can help you within your business venture(s), entrepreneurial pursuits, and if you just have a dream.
#defi #whatisabank #banking
*Public Disclaimer: The intention of this video, and the information therein, along with the First Class Bonus page, is to educate and inform those who seek to learn more about Cryptocurrency and DeFi. With these efforts we intend to improve the use and understanding of decentralized finance and the mechanics thereof. The subject of DeFi and Cryptocurrency for most people getting into it is complex, and, as with all things, it takes time to learn the systems, lingo, and mechanical operations of the cryptocurrency space. Investing in Cryptocurrency can be risky, therefore, it is your personal obligation to inform and educate yourself in the best way possible because your efforts are your own. The information contained within this video and distributed on the First Class Bonus page is intended to teach and inform, and can not be taken as financial advice in accordance with governing law. Your efforts are your own, therefore, you are responsible for how you process this information and what you decide to do with it. If you are a entrepreneur and, or, business owner, please be advised this is a peer to peer communication, and, if you are someone with a dream, this is a FRIDAY VIRAL LLC communication speaking and educating for the sake of economic growth and prosperity for the good of all.