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7th Global Blockchain Congress
June 21, 2021, Dubai, UAE
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DeFi - Gamblification or Path to Crypto adoption
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  • Description
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About the talk


About speakers

Baiba Broka
Chief Legal Officer at Mass DeFi
Animesh Saxena
Chief Investment Officer, Growmore Group at Growmore Group
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And we are facing these challenges. Gas station is majorly happening because of market manipulators, speculators. And a lot of Traders taking advantage of flash floods. And this is prominent and let me explore the gaps. In the decentralized ecosystem further, the biggest challenges lack of connectivity and finance it existed for over a decade now, but the challenge. Coming really is a difference. A big gap between centralized finance and decentralized finance which means on one side. Centralized Finance have built up some crazy, technology, crazy Financial

products, but on the other side, decentralized Finance is a technology ecosystem, but did they do not have access to the financial products that the same place finances? And what we're really missing is an integration between the two lack of utility. If you see most of the institutions right now, they're focusing on The Institute in the market, but there is A very few companies were actually looking at the reused case for Consumer loans, in the in the echo system, low utilization ratio. Do you have high cholesterol requirements and high Gatsby to deal with? Of course, there are nutrients

coming up. This problem is getting started but still the majority of the Define ecosystem is built on on athira room right now. So, this is a challenge at the moment in the industrial complex. Let's not go too far away for us to fall for a load of users. Cryptocurrencies is a b complex to think about a Vonage integration. For example, a lot of users find it very, very difficult. So that if I had a decent life Finance is not as simple as their traditional Finance. The gentleman Daniel, who was president before me. I think he brought out a very, very

interesting point, lack of regulations in this industry. And we definitely think that this is a challenge because when you do not have enough regulations, I mean, first, The Regulators are dealing with the, I mean, I call it Fusion Bitcoin, exact West traditional asset, but on one side, you're good Regulators dealing with these assets. And on the other side, you have got any fees and decent life Finance which has grown one before in the past couple of years. So this is what it likes regulations. And finally most important point is like a product. We may have some beautiful ideas,

beautiful concept, but what do they use if there is no actual product? And hopefully, in this presentation, I will try and answer these get but just before I get to Opera. Let me just focus on the decent life, Finance at the market. We're not here to tell you a story about inviting people. Let's talk about buying people, the 69% of the global population, which is bank and out of that. If we see this only 2.5 million decent life Finance. The users are on the vehicle system. So it means that the potential what we have in this industry is massive.

There is on the other side. You have got the The Lending Market which is what globally 6.9 billion dollars. So this is a game and unfortunately, and if you compare look at the numbers and the device ecosystem, the total value lot in the last two years, it has increased multiforce. 2390. I think it was around $400, the tvl, which increased around 600 million. I remember writing a lot on my LinkedIn last year that this is the industry that's going to explode. I mean, look at 2021, we went we cross actually 80 billion dollars but still it's not bad. It's around

55 56 billion dollars and here is a product. That's what we are aiming to do. One of the first things, the reason, one of the first reasons, why, you know, we came together to form this, this team. And the product is we did not, or we do not believe in the idea of going out in the market without an actual product Jovian, or, or we never actually went out to do a fundraiser without a product to all what we're trying to achieve here is also, I'm trying to address one of the problems that I listed in my presentation earlier. That we wanted to have users who have pH Holdings and crypto holding

to make use of decent life and entrepreneur books that we are building the best product which we think is like many other companies would always think that they are the best best, but we truly think that we have a come up with loans on this implies Finance advisor percent interest, which means effectively. We're also trying to address the problem. We're in there can be used case for cryptocurrency is lying in your wallet. If you have two pills in your wallet, or if you have it in your wallet, you can get access to financial products at 0% interest. So basically you can get loans. The

other beautiful thing here is the trip to credit card which itself is unique as a concept. So we have heard about debit cards, but the people credit card is, in our opinion, game-changer. If you see overall, it's all Financial products. The critical Financial products that we are trying to orbit where users in modern packaging. Of these employees finance. And of course, we have a good trip too long since we had lunch and high heels for the users to put their money in. We're not doing it by yourself. We don't want to reinvent the wheel when it's already been invented. It's important for

us to focus and work with the right Partners who are already there and establishing the market. Or what we're trying to really do is to bridge the gap and create an ecosystem with everybody. Being a part of that system. These are for, you know, what? We have done this, we have divided our production floor pillows. So the most important pillar is our product because as I said earlier from the day one from the day Zero, we never had this intention to go out in the market without an actual product. So what we are actually coming out is whether product first and we are focusing on both the lenders

and the borrowers. If you look at the names of our products, like the the bridge loan, the 0% impress and crypto loans excetra. These are all traditional products. I said earlier, but package in the defy packaging. We call them at stable, compound used and directives, which are traditional financial terms. So it's Matthews, Mascarpone cheese and impasta believes that will be offering to our users. So basically it's a marriage between the lenders and the Border was if we see as devised, an ecosystem is a gap between the borrowers and lending market.

So we're trying to bridge the gap. And I think our game changer is going to be a multi chip credit card that will be offering to our user. We believe that adoption can only happen when there is a crypto credit card for masses that anybody can access it. I know we will come to the regulations pretty soon because as Daniel the present earlier mentioned that you cannot run a scalable business without any regulations, so we are focusing on the regulations in microwave by will cover this up. So this is a picture of God without losing Adam pressed

powder with into users can decide whether they want to make payments with fit what they want to make payments with cryptos. So, depending on the use and depending on the acceptability, the user can decide, we're not trying to do everything by yourself in this. And we are looking at regulations. We are looking at a banking license as we speak. Now, when we are out with a product actually, has as I talk or team is already, they're building a product and I'll show you the movie do if you have time remaining, but otherwise, we're available after the presentation to show you a productive, but

we are looking at a global amass bank, that would be our own time and under that will have sister concerns in different parts of the world to offer the financial product that I've just mentioned to you. The second pillar and activity related point to what you see here. It's a partnership. It's not just important for us to have a product. But also important for us to have Partnerships story escape to the slide and trying to go back to. These are all the existing ecosystems the next to a Wi-Fi, excetra, excetra. We're not trying to compete with anybody. We are here to be working

at friends with everybody. They have built an ecosystem. We want to utilize their ecosystem and bring the traditional guys in through Partnerships as we speak. Now, we have God exist apart to Partners. We have access to financial services products in over 200 countries right now, the day we launch, we are looking at around hundred thousand k. Y c'd users, who will be on our platform and this is the intent with which we are trying to work. We are looking at the new Banks from UK Us and other European countries to start with. And these are thirteen of those Banks. So, all I'm trying to say here

is, it's not an idea what you're trying to sell to the market. We are trying to come up with a product and with existing partnership so that the users can utilize the power of decentralized Finance, El Paso and regulations to my colleague Bible. It's not a great idea for business. People to talk about everything so that they could do. The owners. Third pillar is regulations and compliance, is it not the first time when the finances with these technological Revolution, which brings up and it comes with us and effective solution. But what is a

challenge still at? This is how to build a trust. And that's why, you know, there's to convince our users, to choose our product and to be loyal to our product. It's all about trust and they say, you can reach on late if you are compliant and as the my collection to know already mentioned, so I would ideas to be a bridge between the centralized finance and decentralized. And that's why we will have our own bank, which will be fully compliant with all the relations with all the licenses to be operational bank, which will issue a descriptive credit card and the same time, you know, we are

bringing the best, which is already existent in the centralized finance that already users are used to. What is a consumer protection laws. Being able to follow the traditional a mail key. I see policies in Pachuca and procedures that the protection. So these are they still already existing legal regulations, familiar in Central Heights, Finance. And this will be also transformed in and out using our product as well. Because we strongly believe the compliance security and transparency is really existential priorities. And this is this condiment how we can build the trust

that we have already. A very sophisticated and robbers internal compliance procedures and also the compliance be exchanged through the partnership. So we do to lose and they have chosen those Partners which are compliant. So Banks through the bank through the other in the credit institutions through the am I still already regulates so we don't have to leave this double compliance. Be want to be compliant ourselves. So whenever jurisdiction we will go. So we will follow the rules in that particular jurisdiction. We will be, we will do our

self registration and the same time, we will choose and we have chosen Partners which are regulated or any which had license. And then yes or no cell cell compliance be with compliance, will be put on the first moment. When you be on board of her customers feel the moment when we also do monitor our recording. So this is a bit just to come close to the compliance. Is that really the core absolutely cannot run a financial services Business Without a strong compliance function. Alright from as Bible read right to mention. I would

recreate that point right? From a customer being on bullet to make sure that we're dealing with the right people. To the time. We have the coins on the platform. It is our responsibility to make sure that we're dealing with the right characters. So tell government sometimes it is great governance. We would love to explore various jurisdictions and Regulators where we can actually look for defy regulations, but and the food and the most important pillar is our people going to become from varied backgrounds with his cultures, but it did. What we have in common is a

Nike and our interests of building a building a startup. And this is something that all of us have done the man behind this project. Unfortunately, he's not here. He's stuck in India because of the covid test pictures, but he's a man who came up with this beautiful idea. And all really what we're trying to do is we're trying to achieve his vision. So are we sure? But I'm sure you're listening to it, great for. He's been working. Tirelessly to do to builders product. What we, what you see this today we have also good. Bye. Bye. Bye. Bye is very strong and work with various regulators and

with the governments around the world, but she was a Minister of Justice suit. We, we want to have people who have got the experience and the background we have got gaurav Dubey and i d d, i t h d, all they both come together, but the beauty what they bring is an experience. As a growth has been invested has been invested in our project and so far. It's be a cell phone. Cocheco road, but he's being responsible with some interesting Network, like OT network. Network and videos of the startups by running an accelerator. So and of course, I've got a decent experience in the crypto,

send the payment center Street for around 15 years. I was responsible for launching who obey the crypto exchange from China in the Middle East. And in the last 25 years, we have been various regulating payment models between crypto-currencies and traditional money. We have got police Kumar who is being an investor and he's been giving us an investment advice. Has he already has a company that has invested billion dollars at least in various other projects. And then, of course, we have doubts about nothing. He's been working very, very closely with Regulators around the world to

drop crypto crypto regulations. Not been a long journey for us, but we have been in the news we have been in the media, but this is a short presentation for us. Definitely think decentralized Finance is for the masses only if it's done in a controlled Manner. And with the right people, the right Partners is all what you need. So, thank you very much for your time. And thank you for listening to us. Thank you. Thank you. I don't know if you have enough time to pay a short with you. Do we have no. Okay. No worries. Thank everybody. Thank you.

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Baiba Broka
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