Paper Title
Decentralized Finance System
Article Identifiers
Authors
Shruti Anandas , Anagha Deshmukh , Janvi Singhal
Keywords
Defi, Centralization, Decentralization, funds, peer-to-peer, transport, exchanges cryptocurrencies.
Abstract
Decentralized finance (DeFi) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. In the U.S., the Federal Reserve and Securities and Exchange Commission (SEC), likewise in India we have RBI that define the rules for centralized financial institutions like banks and brokerages, which consumers rely on to access capital and financial services directly. DeFi challenges this centralized financial system by empowering individuals with peer-to-peer digital exchanges. DeFi eliminates the fees that banks and other financial companies charge for using their services. Individuals hold money in a secure digital wallet, can transfer funds in minutes, and anyone with an internet connection can use Defi.
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How To Cite (APA)
Shruti Anandas, Anagha Deshmukh, & Janvi Singhal (May-2024). Decentralized Finance System. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(5), b639-b647. https://ijnrd.org/papers/IJNRD2405179.pdf
Issue
Volume 9 Issue 5, May-2024
Pages : b639-b647
Other Publication Details
Paper Reg. ID: IJNRD_218443
Published Paper Id: IJNRD2405179
Downloads: 000121981
Research Area: Engineering
Country: Mumbai City, Maharashtra, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2405179.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2405179
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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