What is fintech and defi?

[jenny]

I keep hearing about what is fintech and DeFi, but I’m still not totally clear on the difference. Is fintech just modern digital banking, while DeFi is fully blockchain-based? And how do they actually work in real life? If someone can break this down simply, it would really help me understand.

 

[Shane John]

Fintech stands for financial technology — tech-driven services that make banking, investing, and payments easier and faster. DeFi (decentralized finance) is a branch of fintech that uses blockchain to remove middlemen like banks, letting people lend, borrow, or trade directly with others.

 

[Jaxon]

Fintech refers to technology-driven financial services like digital payments, lending, and banking apps. DeFi, or decentralized finance, uses blockchain to offer financial services without intermediaries, enabling peer-to-peer transactions, smart contracts, and transparent, permissionless financial systems.

 

[John Smith]

Fintech refers to financial technology solutions like online banking, digital payments, and investing apps. DeFi, or decentralized finance, uses blockchain to offer lending, trading, and savings without intermediaries like banks. While fintech is centralized, DeFi aims to provide open, transparent, permissionless financial services

 

[Benjamin]

Fintech refers to technology-driven financial services, including digital payments, online banking, and investment apps that make money management faster and easier. DeFi, or decentralized finance, is a blockchain-based system offering financial services without banks. It utilizes smart contracts to facilitate lending, trading, and investing with increased transparency, autonomy, and reduced intermediation.