How are Blockchain, Crypto and DeFi changing finance?

economictimes.indiatimes.com:

Blockchain, Crypto, or Decentralized Finance (DeFi) before 2008, but today we live in a world where these path breaking technologies are playing a crucial role in shaping the future. Also known as Distributed Ledger Technology (DLT), blockchain is a record of transactions that cannot be altered, deleted, or destroyed. In other words, the digital information on a blockchain can be recorded and distributed but never edited. We all know that blockchain was launched as a distributed ledger for Bitcoin transactions, but it turned out to be more than just that. Since 2014, blockchain has given birth to many new inventions beyond Bitcoin. Since then, Blockchain use cases have exploded with the launch of new cryptos, non-fungible tokens (NFTs), smart contracts, and DeFi applications. The innovation factor with blockchain is its guarantee of fidelity and security of data records; it builds faith without the backing of a third party. These features make it perfect for finance. Let’s explore more about how blockchain is re-inventing finance. Blockchain vs banking

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Core banking includes transactions, loans, mortgages, and payment services, most of which are lengthy processes when it comes to execution. For instance, things like verification, credit scoring, loan processing, and funds distribution take anywhere between a few weeks to a few months. Meanwhile, Blockchain has the potential to streamline banking and