Decentralized Finance (DeFi) refers to a new financial system built on blockchain technology, allowing users to access financial services directly without intermediaries like banks, insurance companies, or stock exchanges. It provides a global, peer-to-peer method of transferring and storing assets, offering financial freedom without the costs and restrictions of traditional centralized banking.

Telcoin as a DeFi Application

Telcoin is a decentralized finance application that integrates traditional fiat and blockchain technologies to provide fast, low-cost digital financial services. It works globally, in partnership with telecom companies, mobile money, and e-wallet providers. Telcoin aims to bridge the DeFi world with compliance standards, offering a more secure and efficient alternative to traditional financial systems by reducing risks associated with counterparty, execution, and custody.

Advantages of Using DeFi

1. Freedom and Inclusivity: Anyone with a crypto wallet and internet access can use DeFi services, trade, or move assets without needing traditional bank transfers or fees.
2. Open Source: Many DeFi protocols use open-source code, allowing developers to innovate and connect applications freely without needing permission.
3. Speed and Transparency: DeFi transactions are processed quickly and reflected on the blockchain in real-time, offering visibility into network activities.
4. Self-Custody: Users can manage their assets independently through non-custodial wallets, reducing reliance on third-party custody.
5. Immutable Transactions: Blockchain transactions cannot be altered, ensuring security and integrity in all activities.