Decentralized Finance  has a short name known as DeFi, Inspired from Blockchain has expanded its horizon in financial applications with the usage of cryptocurrency. These DeFi are built on Ethereum Network and uses their smart contract technology with extensive usage of open source  and decentralized networks by working on the flaws of traditional financial products such as slow in speed into transparent protocols which can operate without intermediaries.

On many verses, fellow writers have mentioned that they will disrupt the financial intermediaries, However, I would say this will bring a healthy competition, major overhaul of how they work and they have to pull up their socks to bring themselves to the high standard which crypto currencies are setting up.

The word decentralized means it isn’t controlled by a single, central body enabling multiple node/entities to hold a copy of a history of transactions. Being on decentralized forum, it comes with serious benefits like speed, accuracy.