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Blockchain Industry Review
101 DEFI AND CRYPTO
AN INTRO GUIDE TO BITCOIN AND DECENTRALISED FINANCE
By Brian Sanya Mondoh, Esq.
Decentralised finance (‘DeFi’) is a broad term for financial services that build on top of the decentralised foundations of blockchain technology. DeFi is a global, open alternative to every financial service used today; i.e. from savings, loans, trading, insurance and more. DeFi protocols use a non-custodial design, meaning assets issued or managed on DeFi platforms theoretically cannot be moved or expropriated unilaterally by parties other than the account owners. With legacy banking, all financial services are controlled by a central party who acts as a middleman between the sender and the receiver of funds.
