How DeFi Will Change Traditional Finance: Furkan Saatçioğlu

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In the new episode of Meta<in>vest Podcast series, we discussed the process leading to the replacement of traditional finance in the near future by the Decentralized Finance (DeFi) trend, which has shown a rapid rise in recent years. We tried to answer many important questions such as what awaits us as actors in the DeFi ecosystem in the process accelerated by the increasing interest and investments in blockchain technology.

What is Decentralized Finance (DeFi)?

Decentralized finance (DeFi) refers to financial transactions conducted using decentralized blockchain technology. This allows users to control their own money and use it however they want. DeFi can include various tools and services, such as decentralized exchanges, credit networks, insurance funds, etc.

The concept of DeFi emerged in 2016 when the first decentralized finance projects appeared on the Ethereum blockchain network. Thanks to its smart contract features, Ethereum enabled the realization of DeFi projects. Some of the first DeFi projects were decentralized exchanges and credit networks running on the Ethereum network. Decentralized finance was first introduced in areas such as decentralized exchanges and credit networks. However, more recently, DeFi has been used for a variety of financial services. For example, DeFi projects include services such as lending, interest on deposits, insurance, mutual funds.

DeFi allows users to control their own money and use it however they want. This increases financial freedom and stability. Moreover, decentralized exchanges among DeFi projects offer low transaction fees and high liquidity. Credit networks between DeFi projects allow users to easily obtain loans based on their credit rating.

Through decentralized technologies, DeFi enables a fairer and more equitable distribution of financial services. This creates more opportunities for financially excluded groups. Also, thanks to the smart contracts included in DeFi projects, transactions become more secure and transparent. This reduces fraud and forgery in financial transactions. For these reasons, DeFi is seen as the finance of the future.

You can find our community manager Aybars Dorman's delightful conversation with Furkan Saatcioglu, who has made a name for himself in the world of technology and finance, below!

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