Decentralized finance (DeFi) platforms offer financial services without traditional intermediaries from "summary" of Blockchain Technology Explained by Alan T. Norman
Decentralized finance (DeFi) platforms represent a groundbreaking shift in the world of finance by offering financial services without relying on traditional intermediaries. Instead of depending on banks or other financial institutions to facilitate transactions and provide services, DeFi platforms operate on blockchain technology, allowing users to interact directly with one another in a peer-to-peer fashion. These platforms enable users to access a wide range of financial services, including lending, borrowing, trading, and investing, all without the need for a central authority to oversee or regulate these activities. By eliminating intermediaries from the equation, DeFi platforms aim to increase efficiency, reduce costs, and promote financial inclusion for individuals who may not have had access to traditional banking services. One of the key featur...
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