Middlemen rule traditional finance. Loan officers at banks decide whether to give you money. We have to deal with stockbrokers, mortgage brokers, and insurance brokers.

DeFi is banking without the bankers. It’s a whole new financial system built on Ethereum’s (ETH) blockchain.

Blockchain’s key innovation is automating trust between strangers. This is extremely powerful. It means we no longer have to rely on financial middlemen to buy stocks or lend money.

DeFi replaces bankers with software. This software is built and managed by a community of individuals on the blockchain, spread across the world.

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