Quote from: Juicy_D on Today at 01:33:44 AM

per to per (P2P)

The word is "peer".

Quote

Note: Defi is an emerging technology i.e it's still new.

It really isn't. It is the newest form of the same ICO nonsense to create tokens and make a lot of money when selling those useless tokens to newbies.
ICO -> IDO -> IBO -> IEO -> ITO -> STO -> DeFi -> NFT

Quote

AIM OF DEFI[/b][/center]
1)To reduce transaction time: Unlike traditional banking system that takes time to validate transaction, Defi drastically reduce the time of sending and receiving money.

DeFi tokens like any other token relies on the blockchain they are being built on and their speed depends on that platform. Considering altcoins are slow, these tokens are also slower and they also inherit the risks of their parent blockchain. For example any token built on ethereum blockchain suffers the same protocol flaws and exploits and also is using a mutable blockchain (ie. a chain that can be reversed at any time if the centralized authority wanted to).

Quote

2) To make financial services more accessible: with Defi, accessing financial services like lending and borrowing money are carried out with ease with gender or age restriction as seen in centralized finance.

They are centralizing the financial system but they remove the traditional centralized authority (eg. banks) with the company (or the people in the basements) who created that token.

Quote

a) Borderless: As opposed to traditional banking system, with Defi, you can transfer money from one person to another and from one country to another country without interruption

You can do that with bitcoin, there is no need for a centralized token.

Quote

b) It eliminate third party: In centralized financial system like bank and cooperatives, there is a central authority that decides how you send and receive your money. But with Defi, you are in total control of how much money you send and receive without interference from anybody.

Unless the platform and the token itself are centralized.

Quote

c) Fast: With Defi, sending and receiving money is very fast as opposed to traditional banking system where bank workers can only process your transaction at their convenient time. Furthermore, banks don't operate on weekends and at night while Defi is available 24/7.

Bitcoin is always going to be faster.