Decentralized Finance and the blockchain - Elrond Use Cases by Istari Vision
# Decentralized Finance and the blockchain
DeFi projects use blockchain technology to enable the general population to access financial services. Regulatory institutions such as banks are bypassed with the help of decentralized applications and DeFi tokens.
## DeFi and FinTech: What's the difference?
While [FinTech](https://istari.vision/en/use-cases/fintech/) digitizes the traditional financial world, DeFi refers to financial applications that are not subject to the control of a central player – such as a bank, stock exchange, or insurance company.
In DeFi, all participants follow the “rules of the game” of the blockchain protocol. For this, [Smart contracts](https://istari.vision/en/elrond-blockchain/smart-contracts/) are the basis. The goal is to develope an open and efficient financial system for the general population.
**DApps as a driver in the DeFi segment**
A DeFi DApp runs independently of banks and is available around the clock. It can be used to map traditional financial services, such as lending or securities trading. Tokens are used for control.
[**Elrond's DeFi 2.0 module**](https://istari.vision/en/elrond-blockchain/defi-2-0/)
## DeFi is accessible to all the people
[A](https://preview.redd.it/k7qd8tf28sc71.png?width=800&format=png&auto=webp&s=1c7f523b8fd298298834101043071c71b64f16fe) bank account is required to participate in the traditional financial system. However, billions of people worldwide are thereby excluded.
DeFi opens the door to the financial market for everyone. The only requirement is an Internet-enabled device and a eWallet, such as [Maiar](https://maiar.com/), on which cryptocurrencies, such as EGLD, can be bought, stored, and transferred.
**Investing in the DeFi segm...