The overview of the Defi industry
Banking and financial services are not yet accessible by people in many countries around the globe. On the other hand, the total number of people using mobile phones today has grown manifold. Today, over 5 billion people globally own as well as use mobile phones, and this network of users has zero access to the global financial ecosystem. As per the latest World Bank Global report, 1.7 billion adults around the globe do not have any access to financial services. This prompts people to search for alternative ways, and this is where cryptocurrencies come into the picture.