Many are calling decentralized finance, or DeFi, the “Wild West of finance.” This fast-growing industry aims to provide automated banking services for cryptocurrencies to everyone, with no middle men. But DeFi is still in its early stages, which means there are risks. WSJ explains. Photo illustration: Tammy Lian/WSJ
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More from the Wall Street Journal:
Visit WSJ.com: http://www.wsj.com
Visit the WSJ Video Center: https://wsj.com/video
On Facebook: https://www.facebook.com/pg/wsj/videos/
On Twitter: https://twitter.com/WSJ
On Snapchat: https://on.wsj.com/2ratjSM
#DeFi #DecentralizedFinance #WSJ
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Francisco Gimeno - BC Analyst DeFi is not for the faint of heart. Decentralized Finance is the financial world where crypto and tokens are used to create financial tools equivalent to tradicional ones, from hedging to loans etc. As it is a space in creation, and rapidly growing, it's risk is similar to the beginning of crypto where anything could happen and people suddenly lose their money. Anyone wanting to enter DeFi should research, read and watch others for a time before doing so. In a digital era anyone can do what before only economy specialists were doing. But if you don't understand what you do, better not do it.