Decentralized Finance: What And Why


Decentralized finance, or DeFi (DEE-fie), is in the process of revolutionizing the second layer of money. Bitcoin has been revolutionizing what we might call the first layer – that of producing money – and DeFi is starting to wipe away the status quo’s banking and lending layer. A Bitcoin-and-DeFi regime will still include flaws, abuses and stupidities, of course (those are human issues), but it will not fund them and defend them, as the present system does.