Decentralized finance has quickly risen to prominence, largely driven by the fact that there is over $11 billion of total value locked in the sector. While it makes sense that DeFi — a space characterized by terms such as "yield farming" and "meme tokens" — has captured the majority of the cryptocurrency sector's attention, the concept is also beginning to catch on within the enterprise world.
Stefan Schmidt, chief technology officer of Unibright — an enterprise blockchain development company — told Cointelegraph that DeFi concepts can be applied within the enterprise sector where financial assets can be represented by programmable tokens: "In general, the definition of DeFi still isn't clear outside of the enterprise sector." However, according to him, DeFi is "Anything finance related that can be tokenized."