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In the fourth episode of the Hashing It Out podcast series, Cointelegraph’s Elisha Owusu Akyaw discusses the evolution of decentralized finance (DeFi) with DeFi educator and Fourth Revolution Capital (4RC) investor DeFi Dad .
DeFi Dad entered the cryptocurrency industry in 2017. But things really worked out for him after the top of the bull market in early 2018. Despite the economic downturn that followed, he decided to double down on crypto with a particular focus on decentralized finance. His love of DeFi turned into an addiction of sorts, leading to the creation of a series of educational videos to get new users into the space.
DeFi content makers describe decentralized finance as permissionless, trustless and geo-free money-related applications. DeFi Dad emphasized the trustless nature of DeFi while showing the difference between decentralized applications and centralized ones like his FTX, which he calls banking.
“FTX was a bank that specialized in handling cryptocurrencies, but unfortunately it turned out that they did not operate and maintain the terms of service expected of a bank.”
For regular users, the latest issues have made a compelling case for DeFi, according to DeFi Dad. increase. DeFi Dad said his investment firm has received more pitches from new startups building decentralized services. However, he worries that some of these creators may not launch due to declining capital funding in the sector.
Elisha also discussed the future of decentralized finance with DeFi Dad. According to DeFi Dad, economic activity in the DeFi space will grow exponentially, starting with people employed on decentralized platforms, and could grow to her $1 trillion in value over the next five years.
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In this episode, Elisha and DeFi Dad also cover:
- The popularity of the Ethereum ecosystem and Layer 2 platform.
- DeFi use cases
- emergence of real yields
- Potential Regulation of DeFi Platforms in the United States
Hashing It Out is a new crypto podcast covering innovations and important stories in the blockchain industry, featuring interviews with thought leaders in the field hosted by Elisha Owusu Akyaw (GhCryptoGuy).
For an in-depth discussion with the DeFi Dad, listen to the full episode of Hashing It Out on Cointelegraph’s new Podcasts page, or on Spotify, Apple Podcasts, Google Podcasts, or TuneIn.
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