Difference between DeFi and Traditional Financial Systems

If you are a cryptocurrency enthusiast, you must have come across DeFi, space's current pet subject. As of 14 September 2020, it had locked assets with a total value of $14.5 billion. It has grown exponentially from an initial value of $677 million in early January. But what is DeFi? How does it compare to the traditional financial systems? Significantly, where can it find practical usage? This article will attempt to answer these questions. First, though, let us look at…