‘FTX was not crypto’ — DeFi Dad sets the record straight

In the 4th episode of Hashing It Out podcast series, Pandoraland’s Elisha Owusu Akyaw goes over the advancement of decentralized financing (DeFi) with DeFi Dad, a DeFi educator and financier at Fourth Revolution Capital (4RC).

DeFi Dad entered the cryptocurrency market in 2017; however, things actually took off for him after the bull market top in early 2018. Regardless of the decline that followed, he chose to double down on crypto with a specific focus on decentralized finance. His love for DeFi translated into somewhat of a dependency, which caused the development of a series of educational videos to onboard new users into the area.

The DeFi content maker describes decentralized finance as money-related applications which are permissionless, trustless and without geographic limitations. DeFi Dad emphasized the trustless nature of DeFi while showing the difference between decentralized applications and centralized applications like FTX, which he calls a bank:

“FTX was a bank that concentrated on handling crypto, and unfortunately, it ended up that they didn’t even operate and support the regards to services you would anticipate from a bank.”

According to DeFi Dad, for routine users, the most recent issues have actually made a persuading case for DeFi. From an investor’s viewpoint, DeFi continues to develop in spite of the crypto market turmoil. DeFi Dad said that his investment firm had received more pitches from new startups developing decentralized services. Nevertheless, he frets that a few of these developers might be not able to release due to declining capital funds in the sector.

Elisha also engaged DeFi Dad in a conversation about the future of decentralized financing. According to DeFi Dad, there will be an exponential boost in economic activity in the DeFi area, starting with individuals used by decentralized platforms, to a prospective boost in the total worth locked to a trillion dollars in the next five years.Related: Music

NFTs are assisting independent creators monetize and construct a fanbase In the episode, Elisha and DeFi Dad likewise cover: The Ethereum environment and the popularity of layer-2 platforms. The use cases of DeFi

The development of real yield Potential guideline of DeFi platforms in the United States of America Hashing It Out is a brand-new crypto podcast