What Is Decentralized Finance And Why Is it Important

DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. DeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn't controlled by a single, central source. That's important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases. Join My Tech Academy: https://www.mytechacademy.io/ Join My Mailing List: https://www.mytechacademy.io/youtube-... Donate: https://www.paypal.me/elijah526 https://www.instagram.com/CommonSense... #Ethereum #Bitcoin #EarnYourLeisure DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.