How Is DeFi Different from Traditional Banking?

How Is DeFi Different from Traditional Banking?

Most people access financial services through banks. They deposit money, use debit cards, apply for loans, receive customer support, and trust regulated institutions to keep accurate records. Decentralized finance, or DeFi, offers a very different model. Instead of asking a bank to manage every transaction, users interact with blockchain-based programs called smart contracts. These programs … Read more

What Is Decentralized Finance? A Beginner’s Guide to DeFi

What Is Decentralized Finance? A Beginner’s Guide to DeFi

Imagine borrowing money, exchanging currencies, or earning interest without visiting a bank, opening a brokerage account, or asking a financial company to approve every transaction. That is the basic idea behind decentralized finance. Decentralized finance, commonly called DeFi, is a collection of blockchain-based financial services. Instead of relying entirely on banks, brokers, and payment companies, … Read more