Crystal finance
Crystal finance
What is DEFI? A short term which is used to describe movement of financial products and services onto public blockchains. It is a financial platform that allows a de-centralised system that allows users to have automated enforceable agreements without any major bank or financial institute to work as an intermediate. Therefore, making it simple for the general public.
The world of financial services has some significant barrier for the general public to enter it. Many of the services are reserved for elite, high worth institutions, such as Investment Banks and Market Makers.
DEFI has brought a revolution in this field by allowing general public access to these services. The main objective of DEFI is to provide a barrier free access to financial services, using the immutability of Block chains and their censorship resistant nature. Theoretically ledgers can be spread to over millions of nodes worldwide and cant not be controlled or tampered with or shut down by Central Banks.
To turn this great idea into reality dApps are used which can be used on a simple internet enabled smartphone.
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