Dicussing the emerging world of DeFi, its advantages, setbacks, and analysing the road ahead.
In a discussion about decentralization and finance, three young entrepreneurs of DeFi (Decentralized Finance) Jose Maria Macedo, Scott Trowbridge, and Christian Arita, get together with Beatrice Collet, managing director of Chiliz Blockchain Campus to discuss the future and the present of DeFi, its progress and its setbacks, and how it will affect the world we live around.
In essence DeFi allows Bitcoin users to borrow, lend, or trade on their Bitcoin, just like a bank would, only of course as the speakers immediately emphasize, this process is not controlled by central intermediaries but is as the name implies, decentralized. In other words it’s a code, and you are putting your trust in it. The idea is that, a Co-Founder of BlockwSwap Network Scott Trowbridge said,
you’re not relying on a third party or an institution…for one thing you hold your funds all the time …all these things are actually reducing the cost of providing that service and creating a more transparent system.”
The discussion moved on from an introductory perspective of the DeFi world, to analysing its process and what it is experiencing along the way, with Product Leader Christian Arita of StakerDao explaining that it’s been an experimental ride, allowing developers to explore different methods and structures to see what works best, whilst at the same time, since everything is in a relatively early stage, there are some tendencies to forgo proper auditing or management of financial resources in the creation of these DeFi start-ups. He then went on to say that
developers are able to act quickly and constantly present something new to the community, and then the community can analyse whether there’s any value associated with that project.’
Founding partner of 01 Capital Jose Maria Macedo complemented this sentiment and said that even though this is true, it is natural for misjudgments to happen at such an early stage, and that they should be expected and welcomed as he said
“There will be mistakes along the way, but I think that that’s the only we that we learn and we adapt.”
The panel concluded by saying that the DeFi future is clear for whoever wants to utilize the basic infrastructure that’s already in place, and that with more individuals becoming part of this ecosystem, time will only improve its efficiency and its success.
About SiGMA Europe – Malta
SiGMA Group has announced the postponement of its Europe summit, which was planned to be held in Malta on 17-19 November 2020. The show will now open its doors early next year in February, running from the 16-18th, making it the first event to headline the 2021 gaming calendar.