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DEFI For Dummies - Part 1 - What Is Decentralised Finance

Patreon:   / johnnytime   BUSD Tip Jar: 0xFf3d275BB50bB677Ea1f117730B68Cf42651a60f Hey guys, this is the first episode of “DeFi for dummies”. We will have a series of tutorials for beginners. I will help you understand what DeFi is and how to start from scratch using all the amazing opportunities that DiFi has to offer. In part 1 of the series “DeFi for dummies,” we are going to learn what is DeFi. We will see some DeFi glossary and talk about the investment opportunities. DeFi is short for decentralized finance, which means it does not build on powerful intermediaries. It is an open and global financial system based on the idea that finance does not rely on central governance between involved parties, unlike the traditional banking industry. We will discuss the differences between centralized and decentralized finance. DeFi offers a decentralized alternative to the centralized infrastructure of finance. The nature of decentralization allows the distribution of planning or decision making stray away from the authorities or a central group. We will talk about the history of DeFi and where it is today. The term was first coined in August 2018, in a Telegram chat between entrepreneurs and Ethereum developers. The topic of conversation was how an open-source financial-based application could be built on the Ethereum blockchain – hence the term decentralized finance, or DeFi, was born. ___________________________________________________________ Timestamps: 00:00 Intro 04:04 What Is DeFi 09:22 DApp Business Case 10:44 The History Of DeFi 13:44 DeFi Glossary 17:23 Opportunities In DeFi 23:26 Outro And Summary ___________________________________________________________ ___________________________________________________________ ⚠️⚠️⚠️ #DecentralizedFinance #dApp #glossary #history #Tutorial #Guide #DEFI ⚠️⚠️⚠️ The content in any of Johnny's Youtube videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information. I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am just sharing my knowledge and my findings. ___________________________________________________________ ___________________________________________________________ Communities & Social Media: Discord: https://johnnytime.xyz/discord Twitter:   / realjohnnytime   Instagram:   / johnnytime.eth   ___________________________________________________________ ___________________________________________________________ Music By Yoad Ronen:   / yoad-ronen   ___________________________________________________________ Until next time, Johnny Time