BENEFITS AND DRAWBACKS OF DECENTRALISED FINANCE IN CHINA

Decentralized Finance (DeFi) is a financial ecosystem built on blockchain technology that eliminates the need for traditional intermediaries such as banks and brokers. By leveraging smart contracts, DeFi platforms allow users to lend, borrow, trade, and earn interest on cryptocurrencies directly. This innovation promotes greater transparency, lowers transaction costs, and enhances accessibility to financial services for individuals worldwide. DeFi includes various applications like decentralized exchanges and lending protocols, revolutionizing how people interact with financial systems.