According to the World Bank’s report from 2017, approximately 1.7 billion people worldwide don’t have a bank account today. Not having access to this fundamental financial instrument is the main factor that stops them from realizing certain everyday functions. However, decentralized finance (DeFi) was created to meet all the requirements and demands of traditional banking — security, privacy, and accessibility — in a new way. By transferring financial operations onto the blockchain, people will only need a smartphone or portable PC and a stable Internet connection to access the global…
How Decentralized Finance Paves the Way for Financial Inclusion
