• Decentralized Finance: Is it the future?

  • Jul 7 2023
  • Length: 5 mins
  • Podcast

Decentralized Finance: Is it the future?

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  • Summary

  • Back in 2013, Vitalik Buterin, the founder of Ethereum, announced a project titled 'A next-generation smart contract and decentralised application platform' which is known to be the foundation of DeFi technology. Fast forward to 2021, which came to be known as the era of DeFi, a global ecosystem of open-source financial services hosted on the Ethereum Blockchain. Almost $90 billion of collateral is locked up in these DeFi services, and more than 10 million people are using it! In today's episode, let us find out. What do we mean by DeFi and how does DeFi work? What are some of the benefits of using DeFi and the risks associated with DeFi? Finally, let’s look at what the future of DeFi looks like.
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