DeFi (Decentralized Finance)

A financial system in which individuals do not need to rely on the existence of traditional financial institutions like banks or brokerage firms for monetary storage, security, and services. Instead, individuals are protected from the rules, regulations, and fees of these institutions by the advent of digital wallets, digital currencies, and blockchain networks, which makes the acquisition of currencies and transaction of currencies easier and more secure. It is also completely community driven, and does not rely on intermediary groups to manage financial transactions, those of which are replaced by digital innovations.