Finance without banks
Traditional financial services often required intermediaries like banks. These intermediaries could incur high costs, and individuals had less control over their own money. Moreover, some people worldwide were not connected to the traditional banking system, depriving them of access to financial services.
New Situation with DeFi and Blockchain:
With DeFi and blockchain, financial services can be directly conducted between individuals, bypassing intermediaries such as banks. This opens up financial opportunities for people globally, including those who previously lacked access to traditional banking services.
DeFi makes financial services accessible to anyone with an internet connection, regardless of their geographic location. Furthermore, it reduces costs and enhances control over personal finances, empowering individuals with greater authority over their money.
