Understanding the term, DeFi, which stands for Decentralized Finance and how it works in the world of cryptocurrency and blockchain technology. You'll also learn about it's application processes as well as the pros and cons.

1. What is DeFi?
Crypto Knowledge Bank
@ChimaTheEducator (YouTube)

2. DeFi is a short form of…
Decentralized
Finance

3. DeFi explained…
This is a form of peer-to-peer financial and
crypto-based transactions that is completely
outside the dictate and control of a centralized
authority (government).
It is part of the emerging models of financial
operations in a digital revolution.

4. DeFi explained…
Decentralized Finance uses the blockchain
technology.
Transactions are carried out on the blockchain
through some Decentralized Application
softwares called dApps (Decentralized
Applications)

5. Pros of DeFi…
 1. Accessibility: Can be accessed
from any where in the world
with an internet connection.
 2. Low-fee transactions
 3. Autonomy: Completely out of
government control.
 4. Security and Transparency:
Transactions on DeFi are published
on Blockchain, where everyone can
view it via a transaction hash id.
Blockchains are immutable.
 5. Fund Transfer: DeFi allows
individuals to transfer capital
around the world.

6. Cons of DeFi…
1. Very Complex.
2. High risk of untraceable fraud and
scams.
3. High level of volatility.

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