The most significant impact of decentralized finance is the inclusiveness it brings to the people by providing global access to the financial services that were once only available to the wealthier population. This innovative technology powered by FinTech can be used by anyone who has an internet connection and a smartphone. For example, a stockbroker at a top financial firm in the US or a farmer in a remote region in Asia will have the same access to financial services. Barriers such as wealth to invest and proximity to functioning economies, and lack of documentation would diminish. No more intermediaries The removal of intermediaries is one of the most significant advantages of DeFi. For example, the remittance fees will become much cheaper for the global population, especially those living overseas and may need to send money regularly. International transfers, such as Paypal, Xoom, Transferwise, and WorldRemit, are some of the apps that provide remittance services th...
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