Decentralised finance, also known as DeFi, is a fast-growing sector of the cryptocurrency industry. It’s a blockchain-based form of finance that doesn’t rely on central financial intermediaries such as brokerages, exchanges or banks to offer services.
Instead, DeFi offers a more open alternative that is accessible to anyone with a smartphone and good internet connection. As of January 2021, approximately $20.5bn (£15bn) was invested in DeFi. But what exactly is it – and why is it transforming financial services?
What is DeFi?
“DeFi, a rapidly growing sector