DeFi, or decentralized finance, refers to a new paradigm in the financial industry that aims to eliminate the need for centralized intermediaries such as banks. Instead, DeFi uses blockchain technology and smart contracts to create a more open and transparent financial system.

One of the key benefits of DeFi is its accessibility. Anyone with an internet connection and a cryptocurrency wallet can participate in DeFi protocols, 24/7, without the need for approval from a bank or financial institution. This opens up financial opportunities to a global audience who may not have had access to traditional banking services.

Some popular DeFi applications include decentralized exchanges, lending platforms, and automated market makers. These platforms allow users to trade assets, lend out funds, and earn interest in a decentralized manner.

Overall, DeFi is gaining traction as the future of finance due to its efficiency, transparency, and accessibility. As more people learn about the benefits of DeFi, it is likely to continue to disrupt the traditional financial industry.#25#