Do all DeFi lending protocols leave out centralized intermediaries?

DeFi lending protocols leave out centralized intermediaries by facilitating cryptocurrency loans in a trustless way – without third parties and letting users register assets for lending purposes. If you are a borrower, you can directly secure a loan via these Peer-to-peer (P2P) lending sites. Additionally, the protocols allow lenders to earn interest.

DeFi lending platforms leverage the unique features of blockchain to facilitate decentralized services. For example, they offer total transparency with easier access to funds from transactions without an intermediary. Besides, they present the easiest lending and borrowing process – users only need to access a DeFi platform, connect their wallets and interact with smart contracts.