Decentralized Finance, or DeFi for short, is a digital financial system based on blockchain technology. Imagine being able to carry out all the financial activities you normally do with a bank - but without a bank.
A simple example:
Cryptocurrencies - digital money - were the first and are still the best-known application of blockchain technology. Bitcoin, as a pioneer, enables secure, direct financial transactions without intermediaries. Such an intermediary, also known as an intermediary, is, for example, a bank. Imagine being able to send money to someone on the other side of the world as easily and quickly as you send an email.
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