CRYPTOASSETS AND FINANCIAL DECENTRALIZATION - Mario Perossa - Bog

A cryptocurrency is a non-physical and decentralized digital asset where the monetary authority does not intervene. Its creation is due to encryption techniques without the existence of a central server, which provides security and control over its generation. Its nature is global since it transcends all borders and its popularity is increasing day by day.Somehow, as fintechs allow new technologies to improve traditional banking and provide centralized financial support, decentralized finance (DeFi) emerges as a tool to execute transactions in a secure, fast, direct and decentralized way.Before Bitcoin, it was not possible to conceive of a scarce and tradable digital asset over the internet without an entity responsible for keeping track of that property and all transactions occurring on the network.