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They do not need a server that acts as a central and they have the ability to transfer data and assets with greater security, between the users themselves. Mainly, defi operations are established through smart contract . This type of smart contracts consist of computer programs, regulated by the blockchain and that work automatically as certain previously established parameters are met. That is why the intervention of any institution that guarantees the transaction to be carried out is not required.

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Rather, it will be the individuals of the decentralized financial ecosystem themselves who will carry out the operations directly. Inesem business school master in management control and finance + 15 ects credits more information in addition, the use of the blockchain will serve to store and transfer assets in digital format, complying with the agreements established between the contracting parties Latvia Phone Number of the smart contract. On the other hand, unlike what happens with financial products provided by a traditional financial institution , accessing a product in defi does not require identification, proof of address or social security number.

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To make use of them, it is enough to have an internet connection and you could already use these services. Finally, one of the fundamental parts of the defi is that access is made through digital wallets or wallets . At the time the individual wants to carry out a transaction, it will be done through a smart contract, which means that both parties will have their specific conditions. As an example a smart contract could be created to carry out. A transfer from one account to another on a regular basis. It will be necessary to take into account that once it is modified. It will not be possible to redirect the funds and send them to a different account.

Utility of the defi it is important to note that defi is a relatively young concept . That is why the different utilities that they can have. Will depend mainly on what the applicants need, in this case the users . In addition the regulatory aspects. That are introduced in the future should be considered as they evolve. If we exemplify their activity today there are individuals and legal entities. That are carrying out investments and obtaining financing through defi programs

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