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Question

Why decentralized finance (defi) popular in 2022?


Answers (1)

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Arsalan Afzal
Feb 15, 2022 12:15:09

There are a few reasons why decentralized finance (defi) is so popular in 2022. First, blockchain technology has made it possible for individuals to store and manage their own data securely and without centralized control. This means that people no longer have to trust third-party institutions like banks or governments to handle their financial information. Second, defi allows people to interact directly with each other without the need for middlemen. This eliminates the fees that are typically charged by financial institutions, saving people money and making it easier for them to access financial services. Finally, defi platforms are transparent and open source, which means that users can trust that the transactions taking place are fair and honest.

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