Devi opens a financial network without an intermediary The name says what basically comes down to decentralized financing instruments, such as Ecuador Phone Number List as loans, savings, and insurance, but also trade. An open financial network, which in principle offers the same products, but without an intermediary. Peer-to-peer. Bitcoin started out purely for payments.
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Defi is adding other financial products. By removing the intermediaries, transactions are faster, safer, and cheaper. They know no national borders and nobody can influence this, for example by blocking a transaction. So, for example, I could immediately give a loan to Frankwatching to hire a new editor, without the involvement of a bank. Or open a savings account that does not give negative interest, but rather a significant plus.
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A network of so-called ‘smart contracts’ then automatically handles the transactions. It also ensures all necessary and important controls throughout the entire process. And any actions if payments are not made, such as a repayment. Defi Rapid growth in the number of projects The many hundreds of companies currently offering Defi products have virtually all built their projects on the Ethereum blockchain.