I don't have much knowledge on DeFi; till now, DeFi is offer a wide variety of financial transactions through blockchain which a traditional banks offer, for instance; Lending, Borrowing etc. If these are the activities of DeFi projects, can we call DeFi project a Decentralized bank? Nothing much important, was going through DeFi for a while and it seems kind of bank to me. That's why I am here to discuss with you guys.
In principle, such a comparison can be made. DeFi projects perform functions that were unique to banks. We can say that they take their piece of bread from the banks. However, what DeFi projects offer is much better, because thanks to smart contracts, transactions are performed automatically without the possibility of third party intervention and the possibility of various abuses. However, this is still in theory. Let's see how it all works in practice.