DeFi is the financial system built for the internet age. How does that work? How can it be used? What DeFi applications already exist? Learn everything during this 30min talk. Simply Explained!
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DeFi - short for decentralized finance - is a new vision of banking and financial services that is based on peer-to-peer payments through blockchain technology. Via blockchain, DeFi allows “trust-less” banking, sidestepping traditional financial middlemen such as banks or brokers. DeFi use-cases include money transfers, loans, insurance, crowdfunding, NFTs, initial coin offerings (ICOs), decentralized exchanges, stablecoins, prediction markets, and more. As with all things, this new industry also has shortcomings.
This is a talk I gave at the CatholicCryptoConference in 2022.
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⏱️ Timestamps
00:00 Intro
01:45 What is DeFi?
03:37 How blockchains work
05:29 What are smart contracts?
07:18 Example 1 - Crowdfunding
09:44 Example 2 - Decentralized Exchanges
11:27 Example 3 - Decentralized lending
13:36 Example 4 - Real-time Finance
14:37 Example 5 - NFT, Non-Fungible Tokens
17:58 Example 6 - DAO - Decentralized Autonomous Organization
21:44 Time traveler unmasked
22:30 Advantages and disadvantages of DeFi
28:26 On what blockchain do DeFi apps run? And how big is DeFi?
30:30 Outro