Question
What do we call financial services implemented on blockchain?
Options
A. ApplePie
B. MemePie
C. DeFi
D. CcFi
Correct Answer: DeFi.
Explanation
DeFi stands for “Decentralized Finance.” It refers to financial services, like lending, borrowing, trading, and more, that are built on blockchain technology without the need for traditional intermediaries like banks.
In DeFi, people can access financial services directly through smart contracts and decentralized applications (DApps) on the blockchain, making it decentralized and accessible to anyone with an internet connection. It’s like traditional finance, but it operates on the blockchain without relying on centralized institutions like banks or governments.
Since the question is about financial services on blockchain, DeFi is the correct answer.
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