Decentralised finance (DeFi)

Definition of Decentralised finance (DeFi):

• Decentralised finance is a type of financial service that avoids all centralised financial service institutions and intermediary approaches to saving, transferring, loan disbursal and other financial services. Enabled by secure distributed ledger technology (DLT) and digital wallets, DeFi empowers individuals, enabling them to carry out peer-to-peer financial digital exchanges. It is claimed that DeFi avoids all of the red tape associated with financial services today.