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Decentralised Finance (DeFi)

Kumari Sonali

Decentralised Finance (DeFi):

The DeFi boom has raised national security concerns, with experts warning of its misuse for terror financing and money laundering. Decentralised Finance (DeFi) is a blockchain-based financial system that allows people to save, borrow, invest, and transact without traditional banks. Works through smart contracts, decentralised apps (DApps), and peer-to-peer networks.Rooted in the Bitcoin philosophy (2009) of decentralisation and transparency.
Expanded with Ethereum blockchain (2015) and the creation of DAOs (Decentralised Autonomous Organisations).

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