🔸Decentralized Finance, abbreviated DeFi stands for the combination of traditional financial concepts and products, as they are known from the banking industry, with blockchain technology. DeFi is about transferring well-known principles to the world of cryptocurrencies and distributed ledger technology.
🔸Decentralized Finance uses instruments such as loans, currency swaps, interest rates, bonds and more. The promising potential of this division has led to a small boom in deFi applications since 2019, which has intensified in 2020. The term Decentralized Finance covers in the broadest sense all transactions with monetary reference and is rather synonymous with Open Finance.
So why is it good to combine classical finance with blockchain?
WATCH VIDEO TO FIND OUT! 👀
Here are some other DeFi related videos!
What is DeFi? A Comprehensive Guide to Decentralized Finance
What is Decentralized Finance (DeFi)?
MY 15 DEFI ALTCOINS TO $15 MILLION!!!!? PORTFOLIO REVEALED! [bitcoin crazy update..]
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