About the talk
#BLA2020 will be focusing on the recent trend in #blockchain, DeFi. #Decentralized #finance is one of the sectors that has been trying to shake the traditional financial ecosystem, providing solutions such as #lending, #staking, exchange of #derivatives and many more! However, the barrier of adopting #DeFi as a platform remains, as the general public does not understand the concept of DeFi well. Therefore, BLA aims to educate the masses about the potential of DeFi and inspire mass #adoption of this technology.
If you've missed Event 1, fret not! We will be sharing event highlights and full video on Block Live Asia channels.
1.What is DeFi? - An Introduction | Adam Blumberg, Co-Founder at Interaxis (00:04)
2.A comprehensive set of tools to get started with yield farming | DeFi Dad, Educator & Investor(03:04)
3.What you are missing out in DeFi | Sebastian Aldaroso, Writer at Defiant News (04:16)
4.The dark side of DeFi | DeFi Dude, Community Manager at Aave (06:26)
5.Why DeFi is more than just a Ponzi Scam | Lisa JY Tan, Lead Economist at Economics Design(08:35)
About Block Live Asia-
Organised by Grounded.Work, Economics Design and First Wave, BLA 2020 is a three-part digital event focusing on the recent trend within the blockchain and finance industry - DeFi. The #DeFi economy has grown massively this year as the total value locked is inching towards $9 billion. One day in DeFi is indeed 7 years in traditional finance.
We believe that DeFi is more than a short-term trend and it fundamentally innovates our existing financial system, giving the world access to an unlimited number of financial products and services.
Therefore, we have a Two-fold goal for BLA2020: To educate the masses about the potential of DeFi and inspire mass adoption of this technology.
Day 1 = Defi Introduction (31st August 2020)
Day 2 = Project Introduction (14th September 2020)
Day 3 = In-Depth Technical Explanation (28th September 2020)
Register today: https://www.eventbrite.sg/e/block-live-asia-2020-the-defi-uprising-tickets-118166957551
Follow our channels for the latest updates!
All right, here we go. So we can talk real quick lie about what defy it is. Of course, transferred decentralized finding a shooting centralized courses to take out the centralization. So when we start thinking about decentralized, when you have to go back to the origins of defy of crypto and of course, not as big one. And the idea Bitcoin is that these this group of people wanted to give us a decentralized form of money. Some form of money that would
take us away from the banking system. Take us away from the government control, the value of money to control the transfer and the supply of money, centralized money, you gave those of us that connected to network the ability to not only create it, but also to move it back and forth across the work, gave us the first Money. Okay, then decentralize money was really important. This was the ethos, this was the idea of Bitcoin but those that created it weren't sure
it was going to work and they weren't sure that it was going to be successful and what happened was? It became incredibly successful. We can discuss things, like, drugs, and guns, and all these other reasons that you might use Bitcoin to transact around the world. But the fact of the matter is, before he has been successful in this ability to transfer transfer money, anywhere in the world at any time, without having to ask anyone's permission. And that's what's so important about this
now, The problem with Bitcoin was Bitcoin wasn't really programmable, okay? And of course there's some debate about that but you had decentralized money, decentralized value, they can move back and forth around the world, but we didn't have the ability to actually program it and tell it what to do. So, Some of the Geniuses that created the other developers programmers and such that we really like what Bitcoin has we like the money that we can move back and forth
around the world but we can make it better make it better. We have the ability to program. Money program, Dallas. Decentralized Finance essentially has given us the ability to take money, take his decentralized idea of money and now add from Grandma, today about how to get started with the old farming. And I think it's really important to watch this to the end because I cover the risks of the old farming. And then also pay close attention. Everyone speak after me, including
what Atom discovered? Because I think it's good to understand those fundamentals that you're not diving into something without fully, understanding it, by protocol or application. It's because of the fact that we can trade permissionless, Leon tools, like uniswap, no one can stop me from putting my governance tokens on the uniswap and then allowing buyers and sellers to battle each other for what the prices. So at the end of the day teams and defy right now or are I would argue or more Focus. I'm creating loyalty and creating an
active participating Community using their application. However these governance tokens can be traded on exchanges. Like I mean, decentralized exchange is like uniswap or balancer and so that anyways comes with a certain monetary value. All right, so nice. I will have a slightly different Focus today on my truck and see what you're missing. Gandhi fight. So I will start taking my time. So I'll be a little. So I will not go alone into the details. So total value lug has grown, more
than 10 x. There are many new projects that are lunching on a weekly basis hike, babe. Sorry, hypolita teens high-quality products and which are really real breakthroughs from the technology standpoint. If we take a look at this. Looking up the disciples leaderboard. So these are all like the prodigal. If we check out on the leaderboard now in August, a few months afterwards, we have so many that it doesn't even fit on my screen now. So has really, really going to Macy's and this is something that continues to happen. We jumped
it starts becoming even for the most. Like, you know, if I had a user's is becoming increasingly difficult to be able to be on top of everything that is happening. And like, I think they both mentioned that they like, Is this hard to trust Lasorda Central Express a cold one of those magic things about them? It's not really magic by one of the great things about all of these projects and protocol sees that they are interconnected so that you're transferring value among them,
still alive, we have better, but I mean when new projects and prodigals I get on board and eat pie, and add value that we can be transferred with the others needs a rectangle with the others. And in that way, we get like a management over at 8, I'll be good. I'm going to be doing a quick presentation, just about all the risks and defy at is a lot going on and defy, right now, a lot of crazed and with it, you know, obviously a lot of risks. I'm going to go ahead and share my Siri in the middle here. You
know, you've got crypto, an aetherium right. Though there is inherent risk with just using crypto an aetherium. I mean, let's Not like, see phrases private keys. I don't even have my own parents manage their seat phrase because they, you know, it's very hard to relay the message of like, okay. These twelve words of these twenty-four worth, this is your master password, you know, there's no username, you can't change your password, you can't just change your seat. Praise you quite literally. You know what? Have to get a whole new out of town for, or wallet. In that case, I back it up, move
everything over. So, you know, there is risk alone and securing your own, while I'm backing it up, making sure, no one can find it. I'm you've got volatility as well. Obviously cryptos very volatile. So that's a risk in itself, and things like that. You know, centralized exchange is being hacked, those types of things. Then you have the smart contract risks, or defy, risks in general. And now, I kind of separate these between defy and D. Jen fi, as I like to call it which is kind of what I would refer to as like the more recent efisd Jen fi.
But going back, the smart contracts and regular defy. I guess I would tend to group those together for wrist. So where the risk comes from that. A lot of it is to do with me. There's two big ones, I'm which I'm going to touch on later, but it would be, you know, a regular smart contract exploits as we saw back in 2017. 2018, good example is the parody multisig exploit and we had over a hundred million dollars in ether just sitting in the multi cig and then some guy comes along and he's like, hey you know your code
is vulnerable here, you should do something about it and then 10 minutes later. Oops I killed it. Debbie fyffes babies all about is that is he fire a Ponzi scheme? Because there's a lot of pain symptoms. Everything on Twitter is about Schilling, all these different projects and like all the risks thing that you was defined as a Ponzi Define. It's basically Ico 2.0 vacuum pump pumping and dumping and how defies all very it was all fluff and just camps. And if you go online to see that everything is just me. So, we're both these
means, and with all these in Old jokes going around, is it was serious? And why should I join? And how is this, a legit thing? And how hard people getting money? How is it a hundred? Hundreds to send returns? And I like your tongue, because, where's the money coming from? Where are all these you coming from? Is it just people stopping to visit, each other people trading with each other, but it's just within the circle within this little scheme. So If you look at the mechanisms that we have today and all the other before the speakers have talked about it, you have it on you nice.
Walk on to that extent of Youth farming, you have compound your fam, you have spaghetti or pasta, all your sushi you have a lot of these kind of different projects and different mechanisms and it just you quite like a Ponzi because it feels like the initial people who are in the space. Are these goofy as a project. You need some funds before you get started because you need to hire developers, you need to hire engineers and we can get the funds from your need to go to the VC's. So that means he's giving you some funds and in exchange do they will keep your tokens.
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