An Expert Explains | Blockpass CEO on the Rise of DeFi
In the newly launched series, "An Expert Explains", the Blockpass team is going to interview experts from different industries and get to know more about various topics. For the launch, we sit down with Blockpass CEO Adam Vaziri to talk about the concept of DeFi and its current state.
When Bitcoin was first released, it had a very obvious mission behind it: to disrupt the existing financial industry with a decentralised currency which would give power to the people and avoid manipulation by governments and corporations. Of course, nothing in the real or digital world is entirely immune from the effects of government policy and the choices of powerful, multinational corporations, but decentralisation offers an alternative with different opportunities, vast potential, and a more even playing field. Through the use of smart contracts, decentralised application (DApps) and blockchain systems, it is possible to create decentralised solutions for banking, lending and borrowing, tokenized economies, derivatives and predictions markets, and a whole host of other options. These enjoy the benefits that typify blockchain use such as efficiency, wider audience reach and greater security. Even in the very beginning, many in financial industry were quick to analyse the benefits of decentralisation through cryptocurrency and blockchain and how they might be applied to existing financial institutions, but the concept of Decentralised Finance, or ‘DeFi’, as a term is relatively recent. In the past year or so, DeFi has risen rapidly to become a significant focus. In fact, it’s happening to such an extent that the DeFi area is experiencing a massive boom in investment that many have compared to previous blockchain-based investment phenomena like the ICO craze a few years ago. Today we sit down with Blockpass CEO Adam Vaziri to talk about the concept of DeFi and its current state. Watch it now and contact us at [email protected] if you want to be interviewed or have some great content ideas to share with us.