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What Is DeFi (Decentralized Finance)? What are Smart Contracts?

Topic: Decentralized Finance and Smart Contracts (Cryptocurrency)
Write a research paper that ties together the questions provided:
What Is DeFi (Decentralized Finance)?
What are Smart Contracts?
Centralized Finance vs. DeFi
How Does DeFi Work?
How do Smart Contracts work?
Will Smart Contracts be used by more industries in the future?
What would that look like?

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