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FinTech + Blockchain = DeFi
DeFi is a broad category of financial applications built using blockchain technology whose primary goal is to reduce or remove entirely the intermediaries involved in financial transactions. Though these are simply words on a page, imagine how disruptive and revolutionary this concept is in practice.
DeFi is a threat to the status quo of global finance — much in the way the internet was thirty years ago. Entire applications are being built on smart-contract crypto platforms like Ethereum, Polkadot, and Cardano. Big financial players, banks, and governments are being forced to incorporate crypto, adapt to DeFi, or become obsolete. Many big players are working on their own cryptocurrencies and blockchain applications or working closely with existing blockchain developers.
Consider that Venmo and Paypal already allow users to purchase crypto assets. Amazon and other e-commerce giants are working on ways to accept cryptocurrencies. However, the promise DeFi holds for the average person is what drives more and more people toward the cryptospace.
High-Yield Interest Accounts, Crypto-backed Loans, and More
DeFi companies like Block-Fi will pay you as much as 8.5% of your annual holdings (varies with the type of crypto held) to keep your cryptocurrency stored in their massive liquidity pools. These giant liquidity pools allow account holders to take out crypto-backed loans and get a percentage of their holdings paid out as fiat currency, which can be paid off with fiat or as the price of the crypto asset appreciates.
Some DeFi companies are developing other ways to reward users with cryptocurrencies. Crypto.com and BlockFi both offer credit cards that pay their users back rewards in bitcoin or other cryptocurrencies.
We will stop here today and continue tomorrow 
