Decentralized finance, more commonly known as DeFi, is quite complicated. Even the heads of DeFi companies seem unable to define the sector in a few sentences. So, here’s another attempt: DeFi is a financial ecosystem, in which it is possible to build tools, services and smart contracts and then bond them together on a blockchain, just like lego. It might not sound like fun, but it’s probably more useful.
Lego might well be Denmark’s most famous export, but DeFi’s number one company, MakerDAO, is giving it a run for its money. Since the company was formed in 2015, it has rapidly grown to be the market leader in one of finance’s most exciting sectors. Cointelegraph caught up with MakerDAO’s European business development representative, Gustav Arentoft, about centralization and the company’s next move.