Is DeFi part of Fintech?

Is DeFi part of Fintech?.webp

🏦The fintech industry is growing, focusing on a particular position, and that is on Decentralized Finance or DeFi.

💵Fintech or Financial technology helps companies and consumers by offering various financial services like payments, loans, investments, insurance, digital wallets, lending platforms, B2B services, B2C services, online banking, technologies, or payment services. It also offers C2C or Consumer-to-consumer services that allow consumers to send money to each other instantly and without an additional charge.

📱On the other hand, DeFi allows people to transfer money, secure a loan, invest in derivative stocks, and engage in other financial activities without intermediaries. No bank manager, broker, guarantor, or other middle agent is involved in a DeFi transaction. These peer-to-peer or P2P, quick, and often economic transactions are made possible with smart contracts and blockchain technologies.

💰Fintech and DeFi strive to ensure user access to financial services on the internet, including cryptocurrency transactions and trading. The difference is the environment, as DeFi has no intermediary, and borrowers ~ and lenders are connected directly.

👨‍💼Both systems work differently. Both have their advantage and risk. Choosing what system to use depends on the needs of each particular investor.

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