The innovative style of economics where financial operations are run using the decentralized model.
Decentralized Finance (DeFi) is the innovative system of economics, finance, and accounting that does not require central authorities and runs almost exclusively on the principles of blockchain networks. The underlying frameworks of DeFi systems are designed to be transparent and operate peer-to-peer transactions. As a result, DeFi systems reduce the need for central banks and other central financial institutions.
DeFi systems are not only characterized by decentralized concepts but also themes such as computer applications and innovative fintech (financial technology) solutions.