Understanding decentralized finance: Insights from Ashish Anand of Bru Finance
Bru Finance is a decentralized finance (DeFi) protocol focused on real-world assets, particularly in emerging markets like India. It is the first and currently the only live DeFi protocol targeting the Indian market. Over the years, it has been deeply involved in blockchain lending in India and now has expanded into decentralized finance as well.
Here's what you all need to know about DeFi with Ashish Anand, Founder of Bru Finance:
What is decentralized finance?
Decentralized finance, or DeFi, is a groundbreaking concept in the financial world. Traditionally, financial transactions require intermediaries like banks or exchanges. However, with the emergence of digital assets such as cryptocurrencies, certain aspects of financial transactions can now be conducted without intermediaries. DeFi allows for financial activities, such as lending, borrowing, and trading, to occur directly between parties through smart contracts on blockchain networks. This eliminates the need for banks or third-party intermediaries and opens up a whole new realm of possibilities for financial transactions.
What is a protocol and how does it relate to DeFi?
In simple terms, a protocol in the context of DeFi is a platform or set of rules and procedures
