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EP 79: What is decentralized finance (DeFi)?
DISCLAIMER: My content is designed for informational and educational purposes. Please consult with an advisor or a brokerage firm when making an investment decision. The information provided, please do your own research and become aware of the risks when making an informed financial decision. You must understand your own risk tolerance, time horizon, and be comfortable with making a specific investment decision.
Watch this video on my YouTube: https://youtu.be/ya-sDfkDE7Q
DeFi stands for decentralized finance and it's a protocol that allows people to utilized financial services without the need of a bank or an institution. Kevin details the importance of this innovative technology and how it works throughout the crypto world.
The future of finance is explained and how DeFi provides options that cater to individuals through staking, borrowing, lending, and liquidity pools. This will be the future of currencies and how transactions will move throughout our economy.
Kevin also explains what a defi wallet is and how digital wallet's provide opportunities within the DeFi space. He also goes into details on stablecoins and how it provides as a catalyst for the use of DeFi. Stablecoins are cryptocurrencies that are backed by the value of a fiat currency such as the US dollar, or a cryptocurrency.
The differences between centralized and decentralized finance were discussed. Centralized finance is predicated on a central authority to approved or decline a transaction. Such as a bank, institution, or a brokerage. There is a single party or a single location that is in control of the transaction.
With decentralization, it gives users the ability to take control of their money and have access to DeFi no matter where they are in the country. All you need is an internet connection and can start to change the trajectory of having freedom and choice when it comes to money.
I.P Outlets:
Instagram & TikTok: @insightfulprinciples
Twitter: insightprinples
YouTube: Insightful Principles
LinkedIn: Kevin Jenkins
Clubhouse: @kevnjenkins
LinkTree: https://linktr.ee/insightfulprinciples
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By Kevin N Jenkins
5
22 ratings
DISCLAIMER: My content is designed for informational and educational purposes. Please consult with an advisor or a brokerage firm when making an investment decision. The information provided, please do your own research and become aware of the risks when making an informed financial decision. You must understand your own risk tolerance, time horizon, and be comfortable with making a specific investment decision.
Watch this video on my YouTube: https://youtu.be/ya-sDfkDE7Q
DeFi stands for decentralized finance and it's a protocol that allows people to utilized financial services without the need of a bank or an institution. Kevin details the importance of this innovative technology and how it works throughout the crypto world.
The future of finance is explained and how DeFi provides options that cater to individuals through staking, borrowing, lending, and liquidity pools. This will be the future of currencies and how transactions will move throughout our economy.
Kevin also explains what a defi wallet is and how digital wallet's provide opportunities within the DeFi space. He also goes into details on stablecoins and how it provides as a catalyst for the use of DeFi. Stablecoins are cryptocurrencies that are backed by the value of a fiat currency such as the US dollar, or a cryptocurrency.
The differences between centralized and decentralized finance were discussed. Centralized finance is predicated on a central authority to approved or decline a transaction. Such as a bank, institution, or a brokerage. There is a single party or a single location that is in control of the transaction.
With decentralization, it gives users the ability to take control of their money and have access to DeFi no matter where they are in the country. All you need is an internet connection and can start to change the trajectory of having freedom and choice when it comes to money.
I.P Outlets:
Instagram & TikTok: @insightfulprinciples
Twitter: insightprinples
YouTube: Insightful Principles
LinkedIn: Kevin Jenkins
Clubhouse: @kevnjenkins
LinkTree: https://linktr.ee/insightfulprinciples