DeFi, or Decentralized Finance, is a collective term for financial products and services that are accessible to anyone who can use Ethereum – anyone with an internet connection. With DeFi, the markets are always open and there are no centralized authorities who can block payments or deny you access to anything. Services that were previously slow and at risk of human error are automatic and safer now that they're handled by code that anyone can inspect and scrutinize.
There's a booming crypto economy out there, where you can lend, borrow, long/short, earn interest,play non-loss lottery, decentralized exchange, ICO, crowdfunding, or even insurance.
The DeFi is an indispensable part in the cryptocurrency/blockchain world and it is worthwhile more than one videos to explain.
Here are some links you can dig more about it:
https://ethereum.org/en/defi/#defi-vs-tradfi
https://www.investopedia.com/decentralized-finance-defi-5113835
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