What is Decentralized Finance (DeFi) in the Era of Digital Finance

Understanding what is Decentralized Finance (DeFi) is about transforming the financial landscape by utilizing blockchain technology to create an open, transparent, and permissionless financial system. Unlike traditional finance, which depends on centralized intermediaries like banks, DeFi operates through decentralized applications (dApps) and smart contracts on blockchain platforms such as Ethereum. This setup allows users to trade, lend, borrow, and more without needing traditional intermediaries, thereby reducing costs and increasing efficiency while democratizing access to financial services for those underserved by conventional banking systems.

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