DeFi is the trendy shortened version of the term “decentralized finance.” Currently, the entire traditional finance industry is “centralized.”
So, although DeFi stands for the term “decentralized finance,” the word DeFi is used colloquially to describe the movement or crusade towards a low-cost, fast, efficient, trustworthy, and completely transparent global financial ecosystem that operates without any central authority and is highly accessible to everyone around the world with just a smart phone or internet connection.
The new financial era will operate on the very place from which numbers, mathematics, physics, and computer science were derived: the ever-enduring fabric of the universe.