Introduction

Decentralized Finance Demystified

Overview

DeFi (Decentralized Finance) is the movement that leverages decentralized networks to transform old financial products into permissionless and transparent protocols that run without intermediaries. In other words, it is a novel financial system that operates independently and does not rely on centralized financial intermediaries like banks, credit unions, or insurance funds.

Decentralized Finance made it feasible for user to transfer, trade, invest, and transact peer to peer using cryptocurrencies and digital assets via automated smart contracts, eliminating the need for these slow and costly intermediaries. This put you in control of your digital assets and enable you to transact securely on the blockchain away from prying eyes.

For those who have no idea what NFT or Non-Fungible Token is, NFT can represent a unique digital item or asset. In other words, it can represent digital or virtual copy of tradable assets such as, landed properties, artworks, crafts and so on.

Kindly follow the link NFT Demystified to educate yourself about NFT (Non-Fungible Token), it's uses and possibilities.

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