Recently, the world of finance has seen a revolution of sorts with the advent of Decentralized Finance (DeFi). In an effort to provide financial services to those underserved by traditional financial institutions, DeFi is transforming the way people access these services.
From decentralized banking and trading to loans, insurance, and even artificial intelligence-backed yield farming, DeFi is providing a truly global and decentralized financial ecosystem.
At its core, DeFi is a way to democratize financial services and allow users to become their own bank, without the need to rely on centralized institutions or middlemen. DeFi protocols and services are built on top of blockchain technology and provide users with access to a wide range of financial services and products.
From its nascent beginnings in 2018, DeFi has grown into a booming billion-dollar industry. In 2019, total value locked in DeFi protocols surpassed $1.2 billion, making it one of the fastest growing segments of the blockchain and cryptocurrency world.
Furthermore, the rise of DeFi has sparked the development of a wide range of projects, products, protocols, and services that are changing the way the world accesses and interacts with financial services. This includes Decentralized Exchanges (DEXs), Smart Contract protocols, and even yield-generating DApps.
There is no doubt that DeFi is making an impact in the world of finance, and it looks like this trend is set to continue. To stay up to date with the latest updates on the DeFi sector and to find out more about the possibilities of decentralized finance, be sure to follow us!