“Don’t defy DeFi,” Elon Musk tweeted
For many months, we’ve been trying to get the word out there about how Decentralized Finance (DeFi) is going to change the world financial system as we know it. Now for the first time, millions of people around the world are about to figure out what DeFi means and how it’s going to impact their lives.
In a tweet posted earlier today, Musk says, “Don’t defy DeFi.”
Don’t defy DeFi
— Elon Musk (@elonmusk) March 25, 2021
Unlike the current banking or financial system, DeFi or Open Finance movement refers to an ecosystem of financial applications that are built on top of the blockchain network and not controlled by anyone or world governments.
DeFi aims to eliminate the need for traditional banks or financial systems by providing an open alternative to every financial service we use today — savings, loans, trading, insurance, and more — accessible to anyone in the world with a smartphone and internet connection.
Below is a video overview of DeFi.
Below is also another video from Billionaire Mark Cuban on why DeFi is the future.