49: What is Decentralized Finance?

Go Full Crypto

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4+ y ago 37:22

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DeFi or Decentralized Finance is a growing trend in the cryptocurrency space. In this episode we break down Finance into four easy to components, and make a comparison between the relationship of the components to Decentralization.

Storage of Money
Sending and Receiving of Money
Credit (Lending and Loaning of Money)
Investment (Investment of Money)

This discussion spans many topics, including a brief history of Ethereum and the innovations that have allowed for finance to take place in a decentralized way.

Read Keegan's newsletter on Your Primer for DeFi here - https://keeganfrancis.substack.com/p/your-primer-for-defi

(00:00) - Introduction

(00:56) - What is Decentralized Finance?

(03:03) - What are the main financial services you get at a bank?

(08:35) - Banks are still businesses

(11:18) - DeFi entities are built upon a foundation of Transparency, and Accessibility

(19:18) - If we were still using gold, the money itself would be decentralized

(21:59) - The ability to invest, and the value of the Ethereum Platform

(33:06) - Summary, and Closing Thoughts

Edited and Mixed by Kaushik Sethunath.

Visit the Go Full Crypto website at: https://www.gofullcrypto.com

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