What is Dcentralized Finance?

Defi, short for Decentralized Finance, which is the basis of Web 3 and CryptoCurrency. Defi is decentralized meaning there are no central authorities involved which breeds more risk but bigger rewards. Through peer-to-peer financial networks, DeFi uses security protocols, connectivity, software, and hardware advancements. This system eliminates intermediaries like banks and other financial service companies. These companies charge businesses and customers for using their services, which are necessary in the current system because it’s the only way to make it work.  DeFi applications are designed to communicate with a blockchain, allowing people to use their money for purchases, loans, gifts, and trading. Defi is another vital part of this evolution of finance and gives people the power to become their own banks. Do you think Defi will disrupt the finance industry?