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The world of crypto has always been speculative. However, the technological aspect is what makes crypto so accessible. Blockchain is one of the latest technologies that are changing how different sectors work.
They are now looking at blockchain and crypto as their next technology for solving critical problems within the finance sector. The need for DeFi comes from the fact that financial services are not available to everyone around the world. Almost 1.7 billion people all around the world have no means and access to financial services.
The removal of any central point of failure and guarantee that records can be stored and shared among different nodes across a peer-to-peer network without any centralized authority was the missing key to unlocking humanity's untapped creative potential by distributed ledger technology.
