Why ‘DeFi’ Utopia Would Be Finance Without Financiers: QuickTake

Banking has always meant bankers, the people who arrange everything from savings accounts to synthetic collateralized debt obligations. But what if computer code could take their place? That’s the goal of what’s known as decentralized finance, or DeFi, a movement that’s grown out of a decade of experimentation with cryptocurrencies. A DeFi world could be one where money flows more efficiently and more fairly, its proponents say, pointing to platforms where users are boasting of hefty returns. Cr