In our attempt to shed light on people new to DeFi, we will start by first going through the basics of how traditional financial institutions work. For simplicity, we will focus on the most leveraged institutions in the traditional financial system, the banks, and discuss their key areas to see the potential risks.
Defi seeks to build a better financial landscape with the advent of the internet and blockchain technology. particularly in three sector
Accessibility
centralization
Payment system.
"Decentralised Finance, or DeFi, is the movement that allows users to utilise financial services such as borrowing, lending, and trading without the need to rely on centralised entities. These financial services are provided via decentralised applications (Dapps), the majority of which are deployed on the Ethereum platform.
The DeFi Ecosystem
With such rapid growth, it would be impossible for us to cover everything DeFi offers.