DeFi needs to address certain issues to gain massive adoption, says TideFi CEO

2022-11-8 13:44

The decentralised finance (DeFi) ecosystem has to address certain issues before it can gain massive adoption.

The CEO of TideFi, Daniel Elsawey, told NASDAQ in a recent interview that he believes certain issues have to be fixed before the DeFi sector achieves massive adoption.

The DeFi sector has been growing massively over the past few years. DeFi enables people to gain access to financial services without the hurdles usually accompanied by traditional financial institutions.

When asked what needs to be done to achieve massive DeFi adoption, Elsawey said;

“DeFi is still in its infancy. Currently, you have multiple blockchains offering some sort of DeFi product, but, in my opinion, there have been three major barriers to mass adoption: decentralized know-your-customer (KYC) compliance practices, regulation, and real-world use cases.

To me, DeFi is not the same as being completely anonymous. DeFi is about taking ownership and financial empowerment. Decentralized KYC means a company never stores user data, and there is no potential for a data breach that we have seen in traditional companies. An identification that the user has gone through a form of KYC and is verified will help further integrate into our day-to-day financial system.”

The TideFi CEO added that regulation is a key aspect of centralised finance, and if DeFi seeks to become mainstream, it will need to find a way to evolve and adapt to work together with regulation to be successful. He added that;

“DeFi for the average user is not so accessible; it needs to become a seamless interaction with normal user products. I liken it to Apple or Google Pay; when using those products, most users are unaware of the underlying tech, but it serves two purposes: easy to use and secure. DeFi needs to head down the same path.”

Elsawey added that traditional finance is not going away, and DeFi is here to stay. However, he suggested that DeFi needs to offer new products in a safe and secure manner that can be easily accessed by traditional finance rather than attempting to take over the financial market.

The post DeFi needs to address certain issues to gain massive adoption, says TideFi CEO appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Defi (DEFI) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0182135 (-100%)

massive adoption issues certain defi ceo tidefi

Источник: coinjournal.net

massive adoption → Результатов: 126


Booking.com предоставила базу данных компании, позволяющей оплачивать бронирования биткоином

Система интернет-бронирования отелей Booking. com заключила стратегическое партнерство с блокчейн-платформой Travala, предоставив последней базу своих объектов размещения. $AVA/ $BNB pair open for trading at 11:00 AM (UTC) 25 Nov 2019 on https://t.

2019-11-26 12:40


Фото:

ErisX's CEO claims crypto-markets need institutional-grade data to enforce faster adoption

The digital asset marketplace has been gaining massive traction over the past few years, with 2019 seeing the formidable rise of spot and Futures trading. However, due to a lack of constructive data, The post ErisX's CEO claims crypto-markets need institutional-grade data to enforce faster adoption appeared first on AMBCrypto.

2019-11-1 08:23


Фото:

Slovenia Has the Most BCH-Accepting Physical Locations Worldwide

Bitcoin Cash (BCH) merchant adoption continues to grow, but in certain regions worldwide like Australia, Japan, and New Hampshire, BCH acceptance is swelling. As each area pursues BCH adoption in a variety of unique ways, the Republic of Slovenia has seen massive retail approval as the payment processor Eligma has relentlessly spread crypto awareness throughout […] The post Slovenia Has the Most BCH-Accepting Physical Locations Worldwide appeared first on Bitcoin News.

2019-10-12 07:20


Ripple’s Asheesh Birla claims Securities Law is a good thing for digital assets

Ripple has maintained an arm’s length distance from XRP’s performance in the cryptocurrency market, but it is covering ground in terms of XRP adoption. XRP recently received native support on Coil via Bitpay, a development which would enable massive adoption of the third-largest crypto not only for people trading in crypto, but thousands of businesses […] The post Ripple’s Asheesh Birla claims Securities Law is a good thing for digital assets appeared first on AMBCrypto.

2019-10-3 17:30


Фото:

Bitcoin Cash Acceptance and Community Growth Ramp Up

Bitcoin Cash (BCH) adoption continues this week as there’s been a slew of announcements associated with BCH acceptance and activism. For instance, a massive electronic billboard in the middle of Tokyo displayed a huge BCH symbol indicating that Japan’s largest luxury watch and jewelry shop, Gem Castle Yukizaki, now accepts bitcoin cash at all 15 […] The post Bitcoin Cash Acceptance and Community Growth Ramp Up appeared first on Bitcoin News.

2019-9-24 21:50


Ripple’s Xpring committed over $500 million worth of XRP in various companies, claims SVP Ethan Beard

It has been a tough 24 hours for XRP and Ripple. Over the last 24 hours, Ripple has suffered a massive devaluation for over 10 percent, taking its valuation to a a new low for 2019. However, Xpring, Ripple’s XRP adoption initiative, recently revealed a collaboration with Coil and announced that Xpring had granted 1 […] The post Ripple’s Xpring committed over $500 million worth of XRP in various companies, claims SVP Ethan Beard appeared first on AMBCrypto.

2019-8-17 23:30


Фото:

#MetaHash launches program for blockchain mass adoption even as policymakers struggle with blockchain education

There is a recent global movement for policymakers to put together their heads with industry stalwarts as mass adoption is the key for blockchain to proliferate. #MetaHash, the high-performance blockchain network, is doing a great job with the #MetaGather Program, a targeted campaign to stimulate massive familiarization with blockchain.

2019-7-21 22:43


European Central Bank: “Bitcoin is Not a Currency But an Asset that is Very Volatile”

Bitcoin has unarguably gained massive adoption of recent and there are hopes that someday, it could potentially become a global currency. However, the European Central Bank, the Central bank for Europe’s currency Euro in a tweet on July 9, 2019, stated that it has no plans to add Bitcoin to its reserves because Bitcoin is […] The post European Central Bank: “Bitcoin is Not a Currency But an Asset that is Very Volatile” appeared first on ZyCrypto.

2019-7-10 15:34


Bitcoin-rebate service Lolli partners with Hotels.com; allows users to earn BTC with every booking

Any major technology or system needs the validation of a large user base or worldwide implementation to record massive profitability and progress. The idea of virtual assets is more or less the same as it is utmost necessary for these decentralized digital currencies to attain a higher adoption rate in order to achieve mainstream use.

2019-6-27 23:30


Wholesale Central Bank Digital Currency may enter the market in 5-10 years, but crypto is already here

With the crypto community trying to drive massive crypto adoption, the central banks might just be thinking of launching wholesale Central Bank Digital Currency [w-CBDC]. ING Vysya, a privately owned Indian multinational bank released an article that talked about the new money and that central banks might partner with financial institutions to introduce digital currencies […] The post Wholesale Central Bank Digital Currency may enter the market in 5-10 years, but crypto is already here appeared first on AMBCrypto.

2019-6-22 04:30


Фото:

Ripple’s CEO Believes Facebook’s Libra is a Net Positive for Crypto

Brad Garlinghouse, the CEO of Ripple Inc, is bullish on cryptocurrency adoption stemming from the potential to attract billions through Facebook’s latest cryptocurrency launch. In an exclusive interview with Fortune, Garlinghouse declared that more banks have come forward to enquire about using xCurrent and he believes the increased interest is a result of a massive technologyRead MoreRead More.

2019-6-22 17:00


Massive Blockchain Adoption in Thailand, 22 Banks and Enterprises Join Forces To Build A Blockchain Payment System For The Whole Country

Thailand, as a part of the Thailand Blockchain Community, will see a total of 22 banks and enterprises collaborate… The post Massive Blockchain Adoption in Thailand, 22 Banks and Enterprises Join Forces To Build A Blockchain Payment System For The Whole Country appeared first on Invest In Blockchain.

2019-6-4 09:43


Chainalysis Report: Bitcoin’s Major Use Case is for Speculation

Chainalysis, a U. S. based blockchain intelligence firm’s research revealed that between January and April 2019, only 1. 3 percent of Bitcoin economic transactions were carried out by merchants and as such, speculation remains Bitcoin’s major use case and it has retarded the cryptocurrency’s massive adoption as means of payment, reports Bloomberg on May 31, 2019.

2019-5-31 20:52


Over 60 Cryptos on New HTC Smartphone Exodus 1, Basic Attention Token (BAT) and DAI Included

Each passing day we tend to see cryptocurrency mass adoption in action. Slowly but steadily it is gaining momentum, and this time, it takes a massive step in the right direction. Several devices are integrating bitcoin and cryptocurrency, but what about a ‘blockchain phone?' Yes, you got it right, a blockchain phone. The Second Generation […]

2019-5-18 07:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto scammers target Indians using fake BBC report

A fake BBC report featuring clickbait headlines about Indian billionaire Anant Ambani was making rounds on X, attempting to lure readers into a cryptocurrency scam. Crypto scammers are targeting Indians with a sophisticated scam that impersonates BBC News, using fake…

Sonic SVM partners Solayer, Adrastea to expand Solana restaking

Sonic, a layer-2 blockchain for gaming on Solana, has announced partnerships with Solayer and Adrastea Finance aimed at expanding the Solana restaking ecosystem. The Sonic SVM team revealed it was joining forces with the Solana (SOL)-based protocols on Oct. 31.…