Ask Leo - The life of decentralized finance is beneficial than centralized finance
We live in a world where centralized finance institutions have the power to control and manipulate our personal finances. This is a disadvantageous to everyone because centralized institutions are not held accountable to their users and it's easy to hack. Sometimes centralized is not trust system due to the price manipulation and lack of keeping records. They store users data in one big database that if there is attack it easily affect the whole system. But decentralized finance creates a system that is fair, accountable, and transparent.
However, the life of decentralized finance is beneficial than centralized finance because it is more democratic and more inclusive the way I see the system. If I talk about democratic its means is allows for a greater number of people to be involved in the financial process. Inclusive because it also allows people to participate in financial processes that may not suit their needs or circumstances. Infact decentralized is financially aspect we need in the future of finance for it environmentally friendly which does not require a large amount of energy to operate and It is more culturally diverse.
This kind of system is what we need individually because it allows us to have more control over our money and how it is managed ~Freedom~. For example, if I wants to invest in cryptocurrency, I can be able to do so without having to go through a bank and pay high fees. Additionally, decentralized finance is not controlled by one institution. This means that there is no one entity that is in charge of the money and they cannot take it away us
This segment of finance is said to be more beneficial than the centralized finance system that has regulations and make your transaction to known to third party.