Decentralized Finance: Empowering People to Control Their Money
In recent years, the financial landscape has witnessed a revolutionary shift with the rise of Decentralized Finance (DeFi). DeFi represents a paradigm shift from traditional centralized financial systems to a more open, inclusive, and transparent financial ecosystem. DeFi leverages blockchain technology at its core to give individuals unprecedented control over their financial assets and transactions. This article explores the fundamental principles of DeFi and its potential to empower people to take charge of their money. Understanding Decentralized Finance Decentralized Finance refers to a set of financial services and applications that operate on a decentralized blockchain, most commonly on the Ethereum network. Unlike traditional finance, where intermediaries such as banks and financial institutions play a central role, DeFi relies on smart contracts and decentralized protocols to facilitate financial transactions and services. This eliminates the need for intermediaries, reducing