Explain the difference between digital money and crypto?

So, you are hearing in recent days the term Decentralized finance aka "DeFi" a lot, but you still don't understand what it actually is right? I will make you understand it even if your brain doesn't want to, just hear me out:

Imagine traditional banking is like having to go through a bank manager (an actual human) to do anything with your money - like saving, lending, borrowing, or investing. The bank is in control, sets all the rules, and acts as the middleman, your money is at the bank's mercy.
DeFi is like removing that bank manager completely. Instead, you can do all those same things (saving, lending, borrowing, investing) directly with other people through apps on your computer or phone. These apps run on technology called blockchain (it is literally like a super secure digital record book that everyone can see but nobody can cheat) transparency is king in the world of DeFi.

Here's a real-world example:
- Traditional way: You want to borrow $1000. You go to a bank, fill out papers, wait for approval, and the bank decides everything.
- DeFi way: You connect your digital wallet to a DeFi app, put up some digital currency as collateral, and instantly borrow money from a pool of funds that other users have put there. No bank needed, no paperwork, no waiting for approval.
The "decentralized" part just means there's no single company or person in charge - it's run by computer code that everyone can see and verify, and the users themselves make the important decisions about how things should work.
Just like how you can send an email without going through the post office, DeFi lets you do banking without going through a bank.

So, in summary, your money is guarded and controlled by you and you alone, no bank no other institution has the say on it.

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