DeFi : Your Sure Way to Financial Independence
By Amtu Faith Sokojinwo U17MM1147 DeFi an acronym for Decentralized Finance is an evolution in the finance powered by blockchain technology and based on secure distributed ledgers similar to those used by cryptocurrencies. It has the capacity of reducing entry barriers and bypassing protocols of intermediaries involved in financial services by recreating and improving the traditional financial systems in a Decentralized manner. That is to say, there is no need for banks or bankers, provides trust and eliminates the need to pay charges to intermediaries, lenders and borrowers have a better platform for transactions with far better rates than banks. DeFi is not regulated by any governmental agency hence making it decentralized. DEFi offers advantageous impact such as eliminating increased trust issues through its efficiency, low cost, decreased limitation to financial transaction and fosters innovation. It allows safe, fast and transparent payment systems giving users an exclu...