Decentralized finance, or DeFi, has been making waves in the financial industry as it continues to disrupt traditional banking systems. Built on blockchain technology, DeFi aims to create a more transparent and accessible financial system for users around the world.

One of the key features of DeFi is its peer-to-peer nature, where transactions are conducted directly between users without the need for intermediaries like banks. This not only reduces transaction costs but also eliminates the need for trust in third parties.

Another advantage of DeFi is the ability to access financial services without the need for a traditional bank account. With just a smartphone and an internet connection, users can borrow, lend, trade, and earn interest on their digital assets.

While DeFi has the potential to democratize finance and provide financial inclusion to underserved populations, it also comes with risks such as smart contract vulnerabilities and regulatory uncertainties. As the space continues to evolve, it is important for users to educate themselves on the risks and benefits of DeFi before diving in.#25#