The Magic of Decentralized Finance 🔮
Decentralized Finance or DeFi, is a term named for the new generation of applications without central intermediaries, but instead, are ran by communities worldwide using blockchain technology.
You probably already heard of Bitcoin. While Bitcoin itself is also decentralized, it’s main use is mostly for store of value, and for larger amounts of payments. But with DeFi, you can build actual decentralized apps with it!
Unlike centralized finance apps and services like PayPal, Venmo, or online banking services, since DeFi runs on the web, anyone with an internet connection and a cheap smartphone has access to it!
And not only that, especially when you live in a communist and high-surveillance state, since DeFi is trustless, decentralized, and non-custodial, you don’t have to fear losing access to your money and all the DeFi services!
With DeFi, suddenly people worldwide have equal access to basic finance activities such as sending, receiving, lending, borrowing, and exchanging money.
And the great thing is, that’s just the tip of the iceberg! Today, developers around the globe are building DeFi applications for investing, betting, crowdfunding, and many many more!
Fall down the DeFi rabbit hole and join us in the decentralized movement today!