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!

More Simply Explained videos about:

• Blockchain: https://youtu.be/SSo_EIwHSd4
• NFTs: https://youtu.be/FkUn86bH34M
• Smart contracts: https://youtu.be/ZE2HxTmxfrI

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 ... https://www.youtube.com/watch?v=vocM1bRVZmg