Cryptocurrency Q&A
What is defi and fintech?
What is defi and fintech?
WhisperWindLight
Sun Feb 09 2025
|
7
answers
1430
DeFi, short for decentralized finance, refers to financial services built on blockchain technology, aiming to provide transparent, open, and decentralized financial solutions. Fintech, a combination of 'finance' and 'technology', represents the use of technology to improve and automate financial services. Both DeFi and Fintech are transforming the financial industry, but they differ in their approaches and underlying technologies.
7 answers
SakuraDance
Tue Feb 11 2025
A DAO implies the absence of a centralized management team.
Was this helpful?
159
21
GyeongjuGloryDays
Tue Feb 11 2025
In contrast, fintech applications operate primarily within the traditional financial system.
Was this helpful?
217
43
Federico
Tue Feb 11 2025
Decentralized finance applications operate without the need for intermediaries.
Was this helpful?
94
89
Sebastiano
Tue Feb 11 2025
They interact closely with banks and utilize fiat currency in their transactions.
Was this helpful?
283
87
Silvia
Tue Feb 11 2025
These applications are sometimes structured as decentralized autonomous organizations (DAOs).
Was this helpful?
101
25
Load 5 more related questions
