DeFi - decentralized finance, aims to use technology to remove intermediaries between parties in financial transaction. It is a system by which financial products become available on a public decentralized blockchain network, making them open to anyone to use, rather than going through middlemen like banks or otherss.
DeFi is commonly placed in the domain of blockchain and cryptocurrencies. But the scope of DeFi can be wider. However, DeFi is still in the beginning.
Sharma, R. (2021, March 24). Decentralized Finance (DeFi) Definition . Investopedia.