The Future of DeFi According to Do Kwon, the CEO of Terra
21:00-7:00 Key words: Do Kwon, Vista CEO, Silvergate, Compute North
Overview of important developments overnight on February 17
Interpretation of …
21:00-7:00 Key words: Do Kwon, Vista CEO, Silvergate, Compute North
Overview of important developments overnight on February 17
Interpretation of the news:
Cryptocurrencies have been on the rise for a few years now, and with the rise of cryptocurrencies comes the rise of Decentralized Finance (DeFi), a system that allows users to conduct financial transactions without intermediaries. DeFi has been evolving rapidly in recent years, and there’s no telling where it will go in the future. However, Do Kwon, the CEO of Terra, has some interesting insights that provide a glimpse of what the future may hold.
Do Kwon recently appeared on The Decrypt Daily podcast to discuss the future of DeFi. He discussed how DeFi can bring banking services to the unbanked population, and how blockchain technology can reduce the cost of financial services. Kwon also talked about how blockchain technology can help solve the issue of financial exclusion for small businesses.
One of the interesting points that Kwon made is that DeFi will eventually eliminate the need for centralized exchanges. This is because centralized exchanges are vulnerable to hacks and other security breaches. With decentralized exchanges, users can trade directly with each other, and there’s no need for a middleman. This means that the risks associated with centralized exchanges can be significantly reduced.
Kwon also discussed how Terra is working to improve the DeFi ecosystem. Terra is a blockchain-based payment system that is designed to be stable and fast. The system is built on top of existing protocols, which means that it’s compatible with other blockchain systems. Terra is also using Artificial Intelligence to provide novel algorithms that enable instant settlement.
Kwon’s vision for the future of DeFi is very promising. He believes that DeFi will be a crucial part of the financial system in the future, and that it will provide financial services to people who are currently excluded from the traditional banking system. Kwon’s insights also suggest that DeFi will become more secure and will gradually eliminate the need for centralized exchanges.
In conclusion, Do Kwon’s discussions about the future of DeFi are a glimpse into a changing world. With blockchain technology and Artificial Intelligence, the decentralized finance system can solve many of the current problems faced by traditional finance systems. This can lead to a new era of financial inclusion and security.
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