Crypto has a chance to court traditional finance players who are already looking at non-traditional financial technology after being disappointed by banks, saying Stani Kulchov, founder of AAV Labs.
“Thanks to the terrible banking experiences, we have seen a lot of finance in Fintech, and Fintech applications [have been] Able to capture a lot of market share, ”Kulchov said on the stage in ATCCCCCCCCCCCCC.
He said that Aave Labs, which develops Decentralized lending And liquidity platform AAV protocols, and other decentralized finance projects “are working on how to actually get all this utility in more decentralized mediums.”
“There is some type of digital wallet in more than 60% of the population. It is not onchain, but they have a digital means of interacting with some transactions,” Kulchov said.
“There is a lot of adoption in digital finance at this time, and the continuity is how to bring this mass.”
Tokens can pull the real -world property in tradefitting
Kulchov said that Token The real-world property is a “multi-trilian-dollar opportunity” for the Crypto region to connect with traditional finance.
He said, “Real estate is government bonds, equities, corporate bonds, and there is a group of other categories of property that can be handled more efficiently on a transparent account book and more programable environment,” he said.
Kulchov said that if the crypto sector is “capable of obtaining all this inheritance goods,” it can create a more efficient environment for assets and “build” and create property that can “exist” [don’t] The causes of these disabled are present. ,
“DEFI is the only technique that can actually do in a border manner,” he said.
Defi must be “10 times better” for mass adoption
However, Kulechov admitted that decentralized finances “are not really publicly known” and many protocols, including AAV, are “not even close”.
He said that DEFI needs to introduce “a clear value proposal” and “needs to solve real problems and solve large solutions”, which is a chance to adopt massively:
“If we want to compete with traditional finance, if we want to change the world, we want to do better 10 times.”
“Your product must be 10 times better,” he said.
Connected: The value of crypto lies in reducing the gap between tradition and disruption
“When we bring traditional assets, traditional price chains, we have to offer something that is much better. A better value should be proposed: simplicity and access,” he said.
Tradfi has started using blockchain
Some financial technical companies Has started using blockchain Technology, including Blackrock, launched an Ethereum-based token money market fund in March 2024, which has exceeded $ 2.8 billion in total value.
Company too Filed in April To create a share class based on a digital laser for your Treasury Trust Fund, which will use blockchain to record share ownership.
Asset manager Libere Capital said in April that he would token a $ 500 million to Telegram loan, available to recognized investors and is usable as collateral for onchain borrowings.
magazine: Tradfi Rwas is building Ethereum L2S to tokens trillions – Inside Story
