What exactly is DeFi? Decentralised finance explained
DeFi is a set of technologies that enables people to manage their funds on a peer-to-peer basis and it's changing the way money can be used.
Welcome to the eleventh episode of the CoinInsider.com podcast, Coin Dive!
In this episode, we speak to James Duffy from the Loom Network. This episode is proudly brought to you by the Alchemist Blockchain Techstars Accelerator. Applications are open until the 28th of October, for more information visit Techstars.com.
Listen to our exclusive interview with Steven Nerayoff and Yossi Hasson
Tune in – questions we asked during this interview:
- In as simple a way as possible, why don’t you tell our listeners exactly what Loom is and what you guys do?
- So Loom was a company that participated in the Tech Stars programme; what was the value that you personally gained from the programme?
- Did they help you with their network of investors?
- Do you think, broadly, that blockchain startups should engage with accelerators like Tech Stars, and if so, why?
- You didn’t do an initial coin offering of any kind, right?
- Your content is quite vocal about not having a white paper and there’s some ideological stand that your co-founders took around that. Could you explain that?
- Decentralized apps (DApps) seems to be only early adopters that are talking and using them. How is LOOM solving the problem of adoption?
- You said that you were building your own private key system. Many people believe that you if you don’t own your private keys, you don’t own your crypto. Are you going to be managing your user’s private keys?
- Loom raised money before the bull market ended. How has the bear market affected the way that you approach your business? And has the prolonged bear market affected your output and the way that you approach your business, is it on the same roadmap?
- A broad industry questions – what keeps you up at night (as in what keeps you worried) when it comes to what you are doing?
- Can you give me an example of things that you can build that wasn’t possible before?
Moving into the last section – the quickfire question:
- If you had to sell all of your Ethereum and your Loom. Which one cryptocurrency would you buy and why?
- Tell me about your favorite project in the space (apart from Loom) that you think is getting it right and is doing something amazing.
- Where can we find you and what can we look forward to in the future?
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