Decentralized Finance (DeFi) is an emerging financial technology that is based on peer-to-peer transactions through blockchain technology. Via blockchain, DeFi increases access to financial services, circumventing traditional financial institutions like banks.
But DeFi is constantly evolving. And because it is unregulated, it is riddled with infrastructural mishaps and controversies.
In part three of this four-part series on cryptocurrency, Dylan talks about DeFi and how it works, its promises, and what it could mean for the future of finance.
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