How can decentralized finance be used?

[Cocochat]

How can decentralized finance be used? They say that they have a place in any order of life, but I somehow can’t imagine it)) Explain to me, using at least one area of ​​life as an example, how it works and what are the benefits?

[Tess]

Of course, developers and enthusiasts have already proposed quite a few options for using decentralized finance. First of all, of course, in the field of banking services. Well, let’s imagine the familiar lending – now there are a lot of restrictions, requirements for the level of wages, guarantors, a bunch of certificates that need to be obtained, make these services inaccessible to a whole category of people. DeFi https://www.chilediscover.com/best-defi-projects-2022.html should solve this problem. Moreover, without intermediaries, lending should be cheaper and more trustworthy. Instant deals, transparency and security are what is lacking in this area.

[georges]

People can use DeFi platforms to lend or borrow money from others, speculate on price fluctuations in a variety of assets using derivatives, trade cryptocurrencies, insure against vulnerabilities, and earn interest in savings accounts.

[Author]

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