What is Defi
DeFi = decentralized finance
CeFi = centralized finance
Yes, it it.
DeFi = Crypto wallet
CeFi = The bank account you all use
What is Crypto wallet? Yes, for example "Meta mask wallet" which one is anyone can make it in a minute, put crypt in it, and no one can steal it. No identification is required, so even "people living deep forest in Africa," for example, can safely store their assets.
People who can not afford a bank can have it.
Like US people, they don't face the situation which they can't open the bank account but like people who live in developing countries can't have bank accounts. Banks have strict screening, so if they don't have qualification, they can't open an account.
If they can't open an account, they do keep money under the mattress. However, poor people often live in "dangerous areas," which means that "keeping money under the mattress = very dangerous".
This is the situation in the world today. However, DeFi has possibility this can be solved.
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