DeFi | Decentalized Finance | Explained with Analogy | Next Big Thing In Crypto World | NBIC
Channel: NBIC Native Blockchain Infrastructure Company
Date: 2022-05-09

Decentralized finance (DeFi) is a new financial technology that uses secure distributed ledgers like those used by cryptocurrencies. Banks and other institutions no longer have power over money, financial products, and financial services.

Some of the things that many people like best about DeFi are:

✅ It gets rid of the fees that banks and other financial companies charge for using their services.

✅ You don't keep your money in a bank. Instead, you keep it in a safe digital wallet.

✅ Anyone with an internet connection can use it without permission.
✅ You can move money in a matter of seconds or minutes.

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