Decentralized Finance is a movement in the crypto industry which aims to disrupt central banks by offering bank-like services such as **high interest-earning accounts, lending & borrowing, and currency exchange **- all on the Ethereum blockchain through self governing systems. - Open & borderless financial system that connects the world through the internet. - Peer to Peer instead of relying on banks or institutions. - Financial service 'apps' that run themselves and are governed by its users via voting. > DeFi is like putting money on digital ice skates, a world where your money is uncaged, fast, and free from banks or 3-5 business days ### What is it? - Defi = Decentralized Finance for simple value transfer / complex transactions - No financial intermediary / middle man needed - Financial Services through Decentralized Applications (DAPPs) using: - Blockchain - Cryptocurrencies #### Why care? - Towards --> Faster, Cheaper, Safer, Autonomous, Accessible Terms: - [[Decentralization]] - [[Decentralized Networks]] - [[blockchains]] - [[Crypto Wallets]] - [[DApps]] - [[NFT]] - [[Gas Fees]] - [[Stable Coins]] - [[Currency Exchanges]] - [[Decentralized Autonomous Organizations]] - [[Staking as a Service]] - [[DeFi Buzzwords]] #deeptech