DeFi is Now a $100 Billion Industry

The term “DeFi” is short for "decentralized finance" and believed to have been first mentioned in August 2019 in a Telegram chat between developers Inje Yeo of Set Protocol, Blake Henderson of 0x, and Brendan Forster of Dharma. DeFi allows people to control their assets and transfer value from one person to another without using intermediaries such as banks. These networks are global as well, and this means that there are no borders in the parallel financial system - everyone can access it.