Decentralized finance, often known as DeFi, is a technology that allows financial products to be made available on a public decentralized blockchain network. As a result, instead of passing via intermediaries like banks or brokerages, they are available to everybody. Unlike a bank or brokerage account, DeFi does not require a government-issued ID, Social Security number, or proof of address. DeFi is a system in which software developed on blockchains allows buyers, sellers, lenders, and borrowers to communicate peer to peer or with a solely software-based intermediary rather than a firm or organization completing a transaction.