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Question

Why is decentralized finance important?


Answers (1)

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Arsalan Afzal
Mar 01, 2022 18:12:05

Decentralized finance, or "DeFi" for short, is important because it allows for more financial inclusion. With DeFi, anyone with an internet connection can access financial services without the need for a middleman. This is a revolutionary idea, as it allows people who have been excluded from the traditional financial system to participate in the global economy. DeFi also has the potential to increase efficiency and reduce costs. For example, by eliminating the need for intermediaries such as banks and credit card companies, DeFi could save consumers billions of dollars each year. DeFi is still in its early stages, but I believe that it will play a key role in shaping the future of finance.

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