by Provance Barnett (Author)
Everybody wants to have control over there own assets/money, they want it secured and there transactions protected and untraceable. This weekly article will help you to position and set yourself in the right place in the finance world Getting a weekly review/article on finance. Getting to know what is going on In the worlds finance system. This week we bring you DEFI (decentralize finance) and update from the ban of crypto by the India government
DECENTRALIZED FINANCE (DeFi): WHAT IS IT?
Decentralized finance, also known as DeFi, was created to buck the initial trend of conventional financial institutions. Initially, financial institutions were in charge of a person's financial activities, including their ability to borrow money, make deposits, and transfer money.
As a result of people's faith in them and usage of their services, they were able to control financial operations through the use of currency. But as time passed, people gradually started to lose faith in the system due to the high interest rates on amounts charged, large transaction costs, delayed transactions, and the lack of any kind of individual control over their assets.
In response to the issue, DeFi was developed, giving users access to a permissionless, decentralized system.
Number of Pages: 26
Dimensions: 0.05 x 9 x 6 IN
Publication Date: July 24, 2022
