Introduction to DeFi (Decentralized Finance) | CatholicCryptoConference 2022

DeFi is the financial system built for the internet age. How does that work? How can it be used? What DeFi applications already exist? Learn everything during this 30min talk. Simply Explained!
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DeFi - short for decentralized finance - is a new vision of banking and financial services that is based on peer-to-peer payments through blockchain technology. Via blockchain, DeFi allows “trust-less” banking, sidestepping traditional financial middlemen such as banks or brokers. DeFi use-cases include money transfers, loans, insurance, crowdfunding, NFTs, initial coin offerings (ICOs), decentralized exchanges, stablecoins, prediction markets, and more. As with all things, this new industry also has shortcomings.
This is a talk I gave at the CatholicCryptoConference in 2022.
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⏱️ Timestamps
00:00 Intro
01:45 What is DeFi?
03:37 How blockchains work
05:29 What are smart contracts?
07:18 Example 1 - Crowdfunding
09:44 Example 2 - Decentralized Exchanges
11:27 Example 3 - Decentralized lending
13:36 Example 4 - Real-time Finance
14:37 Example 5 - NFT, Non-Fungible Tokens
17:58 Example 6 - DAO - Decentralized Autonomous Organization
21:44 Time traveler unmasked
22:30 Advantages and disadvantages of DeFi
28:26 On what blockchain do DeFi apps run? And how big is DeFi?
30:30 Outro

[@sanjaysharma8618]

❤❤❤❤ I am from India very well explain sir

[@SamiJradi]

Thank you very much!!! Finally I understand what DeFi is!!!

[@misnad]

Coming from the 'Simply Explained' newsletter. 😄

[@BitcoinAndCryptoCurrency]

loved this style of video

[@shuaibalghazali3405]

Thanks for the explanation

[@BitcoinAndCryptoCurrency]

helpful and simple information

[@coolmoney3031]

Thanks brother

[@Michael-yp9ip]

Your video on ADA 5 years ago changed my life. What new project(s) do you think are interesting now?

[@Vsor]

Haha, I just found this channel from an ad on the million dollar webpage. Did you pick up the domain?

[@BitcoinAndCryptoCurrency]

easy to understand

[@BitcoinAndCryptoCurrency]

this is very good info

[@peopleempoweringpeople9398]

Thanks N Make a video on Exchange n wallets

[@BitcoinAndCryptoCurrency]

simply explained

[@BitcoinAndCryptoCurrency]

I understand crypto so much better now

[@premrajgupta7436]

❤❤❤❤❤

[@raghavgoyal9071]

What if everybody is not honest?

[@rezamoradi5456]

While this is a very valid question, it's not pointing to a problem particular to DeFi. In fact it's a problem of ANY ecosystem. let's ask the same question for other ecosystems: - what if everybody is not honest in police and law enforcement? - what if everybody is not honest in the world's banking system? - what if everybody is not honest in food processing industry? - what if everybody is not honest in my company? - what if everybody is not honest in my family? If that happens, then we're practically done with social life.