ArticlesBenefits, prospects and regulation. What will happen to the DeFi market?
Blockchain applications are becoming the foundation of the new digital economy. In countries where access to banking services is difficult, people will be able to use DeFi – decentralized finance – which consists of blockchain-based financial tools. Blockchain applications are available at any time, and simple procedures give many people access to tools for credit, insurance, exchange and investment.
Most existing DeFi apps are based on the Ethereum blockchain, and the number of new applications is constantly growing. The platforms are sort of like banks, but there are no bureaucratic barriers to using them. Blockchain protocols can’t yet lend large sums like banks, but their services are much easier to access.

DeFi is useful for a number of purposes:

Decentralized Exchanges. On these exchanges, users can quickly buy and sell tokens and other virtual assets that are worth real money.
Credit-deposit platforms. Customers of these platforms can lend cryptocurrency to others without involving banks and other intermediaries.
Insurance. Users can insure their assets if they keep money in smart contracts.
DeFi wallets. These are decentralized wallets in which you can safely store and manage your assets.
Derivatives. Smart contract technology allows DeFi users to make money from derivative digital s
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