What is decentralized finance "Defi", blockchain and cryptocurrencies?

What is decentralized finance "Defi", blockchain and cryptocurrencies?

Bitcoin was developed as a decentralized payment system but decentralized finance, or DeFi, proposes to do much more than that. Defi is an umbrella term for an ecosystem of financial applications built on blockchain technology. This technology can remove the need for banks in the future. Are blockchain, cryptocurrencies, or other decentralized finance systems good for people and future economy?

READ MORE: https://www.euronews.com/2022/02/07/defi-explained-what-is-decentralised-finance-and-could-it-be-a-death-sentence-for-banks

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