DeFi risks and security measures

Decentralized finance (DeFi) is disrupting the financial services industry by providing a decentralized alternative to traditional centralized entities and has allowed individuals and institutions to access financial services more openly and transparently. DeFi enables users to participate in financial activities such as lending, borrowing and trading without intermediaries and this has led to a more inclusive financial system, accessible to anyone with an internet connection. It also has the potential to further impact traditional finance and potentially create a more equitable financial system for all. In fact, the DeFi space has experienced remarkable growth and, according to Nansen, the blockchain market is expected to reach a gross revenue of $231 billion by 2030. However, it is important to note that, like any other financial market, DeFi also presents significant risks including challenges concerning regulation. After all, how can a totally decentralised organisation exist whic…