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5. De-Fi is an emerging financial technology that uses distributed ledgers to remove middlemen from financial transactions. They are a combination of smart contracts and DAOs.

DeFi De-Fi is the branch of Web3 that is pushing the boundaries of financial services by making them more inclusive, secure, and decentralized. The primary objective of De-Fi platforms is to remove all middlemen from financial services and transactions.

Decentralized finance, or DeFi, is the ecosystem of financial applications being built with blockchain technology and without banks.  Characteristics:  Non-Custodial, o pen, t ransparent, d ecentralized

  DeFi refers to “decentralized finance,” an effort to transform the financial-services industry by making transactions faster, cheaper, and more secure.

DeFi is an open-source and decentralized financial ecosystem built on top of the Ethereum blockchain. It appeared as an alternative to traditional centralized finance which historically (i) lack transparency (ii) is centralized, notably in terms of decision power (iii) has low interoperability (iv) ..

Decentralized Finance (DeFi) enables applications like prediction, trading, and financial markets to run on smart contracts, with no middle men (e.g. lawyers and bankers)

-What is DeFi?-How did DeFi get started?-What are some examples of DeFi?-How DeFi affects you

What is DeFi all about? Modernizing, disintermediating (banks etc.), reducing layers of fees in the middle. Transparency. This is a big misconception. People think it's opaque and used for criminal activity. Everything in blockchains is open...