DeFi Review 2022
A full 39 page review of Defi in 2022.
Decentralised Finance (DeFi) allows any consumer with an internet connection to access financial services, such as lending, borrowing, and trading, without needing to trust a traditional intermediary like a bank.
When Satoshi Nakomoto introduced the world to blockchains in 2009, cryptocurrency was the first application. Bitcoin demonstrated that blockchains could be used to prove true ownership of digital currency. Over a decade after the launch of Bitcoin, DeFi is proving that blockchains have many other use cases.
DeFi has taken a hit this year as the global economy has declined, but the sector has come a long way from its simple beginnings. What started as one innovative product on Ethereum (MakerDAO building the first stable-coin) has grown into a multi-billion dollar global industry that has impacted hundreds of thousands of consumers.