The emergence of decentralized finance, known as DeFi, gives us a glimpse into a new world.
Complex financial services and products traditionally offered through large financial institutions can be transformed into automated, self-contained products without the need for banks, brokerage firms or agents. It is a peer-to-peer transaction system with instant services that anyone, anywhere, anytime can access.
DeFi is all about creation. DeFi companies such as Cook Finance Inc. allow users to create, run, and invest in a variety of DeFi protocols through permitted and unauthorized environments. The user community, not the third-party institution, drives the portfolio in the Web3 world.
Michael Saw (pictured, center), Cook Finance’s Partner and Head of Business Development, said: “If you define Web2 as read and write, and Web3 as read, write, and create, there is a difference here. Let the wisdom of the crowd decide what should be established from a product perspective.”
So, at the Unstoppable Domains Partner Showcase event, we talked to John Furrier, the host of the CUBE, SiliconANGLE Media’s livestreaming studio. He will be joined by WallStreetBets founder and WSBDApp strategic advisor Jaime Rogozinski (right) and DeHive CEO Mike Morhulets (left) to eliminate the need for third-party providers with DeFi and how the company should be. We talked about. We are trying to simplify the use of tools and protocols for crypto users. (* The following disclosure.)
No smart contracts and intermediaries
Much of the DeFi world runs on smart contracts, which are programs stored on the blockchain that run when certain certain conditions are met.
For DeHive, a decentralized protocol created to publish and invest baskets of leading DeFi crypto products, assets are stored in transparent smart contracts. The idea is to create and manage a DeHive index with a healthy combination of high performance tokens that will allow users to generate stable profits.
“It’s all about smart contracts,” Morhulets said. “There are no intermediates here.”
The growing appeal of DeFi is reflected in the amount of money that flows into the space. According to the tracking protocol DeFiLlama, the amount invested in various crypto assets has bounced between $ 195 billion and $ 260 billion in recent weeks.
Nevertheless, DeFi is still complicated. Many layers are involved in activating wallets, locking and unlocking funds, paying fees, tracking all stablecoins, derivatives and decentralized autonomous organizations. An unstoppable domain solution for creating non-fungible tokens and creating digital identities is designed to help remove some of the complexity surrounding the DeFi world.
“It’s a matter of rethinking and considering all the benefits and benefits that DeFi has to offer,” Rogozinski said. “The spirit of DeFi is to get rid of bottlenecks. This way of identifying yourself has immeasurable advantages. Unstoppable is in a really great position.”
This is a complete video interview and is part of the coverage of the Unstoppable Domains Partner Showcase event by Silicon ANGLE and the CUBE. (* Disclosure: The CUBE is a paid media partner for the Unstoppable Domains Partner Showcase event. Neither Unstoppable Domains, the sponsor of CUBE’s event coverage, nor any other sponsor may edit the content of CUBE or Silicon ANGLE.)
Photo: Silicon ANGLE
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