Summary of DeFi: The Hot New Crypto Trend Of 2020

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DeFi: The Hot New Crypto Trend Of 2020 summary

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Distributed ledgers, bitcoins, blockchains and now “decentralized finance” – DeFi is the latest technology to disrupt the world of financial services. DeFi uses public open-source platforms, like Ethereum, to create contracts for financial transactions, such as applying for loans or buying securities, without the need for intermediaries. In this informative overview, columnist Tatiana Koffman offers financial professionals and digital enthusiasts a look at DeFi’s transformative potential. 

About the Author

Tatiana Koffman writes about money, economics and technology for Forbes magazine.

Summary

“Decentralized finance” (DeFi) may become the next technology disrupter in financial services.

Already facilitating $8 billion worth of transactions, decentralized finance could revolutionize financial services. DeFi is an emerging cryptocurrency network that provides users the means by which to conduct their financial transactions without the need for banks or conventional applications and reviews.

DeFi builds on a distributed open-source network, a cryptocurrency innovation. Ethereum, a leading blockchain portal, manages the bulk of DeFi activity; however, as “smart contract” systems...


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