49: What is Decentralized Finance?

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