CeFi vs DeFi – What’s the difference?

The CeFi (Centralized Finance) aspect of the blockbank application refers to a centralized financial solution, where transactions are processed and managed by the blockbank entity, ensuring insured security for the users.

On the other hand, the DeFi (Decentralized Finance) component refers to a decentralized financial solution, where transactions are processed and managed by a decentralized network of participants, with users being fully responsible for the management and security of their private keys and funds. In this side of the app, blockbank does not hold any private information.