Investing: What is Decentralized Finance or DeFi

Decentralized Finance or DeFiDecentralized Finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks. Instead, it uses smart contracts on a blockchain. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some applications promote high interest rates but are subject to high risk.In this episode, Nico and Sam thoroughly explained what is DeFi all about, the importance and risks involved, how it works and so much more!Subscribe!If you enjoyed the podcast please subscribe and rate it. And of course, share with your friends!You can also listen and join us on ReasonFM (https://reason.fm/podcast/wiser-than-yesterday) or just ask questions. Don't Forget to leave a comment on this episode See podvine.com/privacy-policy for podcast listener privacy info. Hosted on Acast. See acast.com/privacy for more information.

Om Podcasten

Wiser than Yesterday hosts open-ended discussions, breakdowns, and summaries of the world's most thought-provoking and inspiring books.Our hosts, Nicolas Vereecke and Sam Harris digest non-fiction books from all centuries and genres. They discuss the biggest philosophical insights and practical lessons for health, wealth, wisdom, and happiness.This podcast is here to help listeners become smarter. To learn about new ideas and to gain more perspectives on the books and ideas they are familiar with.Each season we tackle a new field and read the best books on a given topic such as racism, startups, stoicism, or personal finance. We cast a wide net to summarise all sides of opinions in an area to come to a wider understanding of the topic at large as well as help listeners navigate the different opinions and ideas they haven't heard of.We dive into topics such as philosophy, business, equality, psychology, politics, economics, and who knows what else. Our goal is to simply explore the best ideas and learn new things. You're most welcome to join us for the ride. Hosted on Acast. See acast.com/privacy for more information.