What is the purpose of DeFi applications running on blockchain technology?  To limit access to assets and investments.  To centralize financial transactions and control. To allow anyone or any firm to create a wide variety of financial tools and products. Digital Asset Basics Part IV: DeFi Decentralized Finance Stands to Uproot Legacy Financial System iM Contributing Analysts Sam Belkin (FinTech) Decentralized finance, or DeFi, eliminates the need for financial intermediaries and thus may eventually threaten legacy providers from banks to fintechs. Though dwarfed by the traditional global financial markets, locking up $217 billion vs. over $22 trillion, Defi grew 250% in the past year and offers faster, cheaper transactions, data independence and broad inclusion

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