ADVERTISEMENT

What is 'DeFi' and How is it Different From Traditional Finance?

Not a buzzword: DeFi is an ecosystem of financial applications

Published
BrandStudio
1 min read

If you’ve ever spent some time doing research online on cryptocurrency, there’s a very high chance you’ve stumbled on the term ‘DeFi’. Don’t let the jargon scare you - DeFi simply stands for ‘Decentralized Finance’. Why decentralized? Because traditional finance is highly centralized, while DeFi, which is something that’s on the blockchain, doesn’t have any particular regulating authority - and hence the name.

In the video above we break down the jargon and and in very simple terms explain what DeFi means, especially in relation to the traditional financial system that we are used to.

If you’re interested in crypto trading, or cryptocurrency in general, follow our #CryptoTLDR campaign, in partnership with CoinSwitch Kuber, India’s leading crypto trading platform.

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

ADVERTISEMENT
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT