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Recently, decentralized finance (DeFi) has become one of the most discussed topics in the world of finance. This new approach to financial services is based on the use of blockchain technology, smart contracts and decentralized applications (DApps), which allows network participants to exchange digital assets and participate in financial transactions without intermediaries.

To understand the impact of DeFi on banking, it is necessary to consider the evolution of banking in recent years. Traditional banks have long controlled the financial sector, providing clients with services for storing funds, lending, investing, etc. However, with the advent of DeFi, more and more people began to turn to decentralized financial services, giving them greater freedom and transparency in financial transactions.

DeFi has become a real challenge for traditional banks as decentralized finance offers faster, cheaper and more secure ways to manage finances. Through the use of smart contracts, users can make financial transactions without having to trust a third party, reducing risks and costs. Read the related article: The Evolution of Banking in the Age of DeFi

For ordinary users, the transition to decentralized banking means greater freedom and control over their finances. They can manage their funds independently, participate in decentralized credit programs, insurance, deposits and other financial transactions without intermediaries.

The emergence of DeFi is causing major concern for traditional banks as they are forced to adapt to remain competitive. Many banks have already begun to explore the use of blockchain technology and smart contracts to improve their services and reduce costs.

The study shows that DeFi has enormous potential to transform the banking industry. It can reduce costs, improve access to financial services, and increase transparency and security of transactions. However, for this to happen, it is necessary to develop the DeFi infrastructure, ensure the security of users and comply with legal requirements.

DeFi represents a new stage in the development of the financial sector, which changes traditional ideas about banking. The transition to decentralized financial services presents great opportunities for users and challenges for banks, which are forced to adapt to new conditions. It is important to continue to explore and develop DeFi to harness its disruptive potential in the banking industry.