The CEO behind a cryptocurrency talked about the potential among altcoins. Maple Finance CEO Sidney Powell recently met with Scott Melker for a podcast. Powell talked about the potential of the DeFi market, among other things. Powell stated that the DeFi market could be 100 times larger. Here are the details…
Maple Finance CEO discusses DeFi’s potential
Maple Finance CEO Sidney Powell met with Scott Melker to discuss the potential of the DeFi market. During the podcast, the duo talked about the FTX effect, the role of artificial intelligence, tokenization of assets, lending businesses, etc. He spoke on a variety of topics, including Talking about the DeFi market, Powell talked about the reluctant nature of banks and other financial players to use smart contracts and cryptocurrencies because of what they perceive. Powell noted that this is due to regulatory uncertainty.
He also noted that if these financial institutions use DeFi, it is not hard to see a world in the next ten years where DeFi is a hundred times larger in terms of who participates. The podcast host, Melker, asked if DeFi would replace legacy systems. Another question was whether legacy systems would evolve to work on DeFi. He also questioned whether they would use DeFi in the future, citing the examples of JP Morgan and Goldman Sachs.
“An innovative dilemma”
However, Powell noted that he did not see this happen. “I do not think so. “I think they’re going to start using these tools, but I see it as an innovator’s dilemma,” he said. Melker also questioned how artificial intelligence might affect this. Powell replied that artificial intelligence is like a cost reducer. In a way, it can help developers be more productive. It can also help with loan positioning, which can help reduce cost in many ways.
Major altcoins in DeFi space
So, which altcoins stand out in the decentralized finance field that Powell draws attention to? DeFi has gained immense popularity in recent years as it offers an alternative to traditional finance, as we have reported as Kriptokoin.com. DeFi is on Blockchain technology that allows users to access financial products without the need for intermediaries. There are many DeFi coins on the market. These include Ethereum (ETH), Chainlink (LNK), Uniswap (UNI). Then AAVE, COMP, MKR, SNX, YFI, CRV draw attention. BAL, ZRX, SUSHI, REN, BNT and KNC are also among the important DeFi altcoins. Finally, KNC, REP, LRC, GNO and MATIC; It is among the major cryptocurrencies that stand out in the DeFi field. These DeFi coins are among the best on the market based on market cap, user adoption, and innovation.
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