Decentralized Finance (DeFi) is on the rise. And among all that the blockchain has to offer, DeFi is one of the most legitimate sectors and arguably the most the most promising. Like everything in life, it also has its tricks.
“Decentralized financing allows one to make one’s own version of investment banking, which supports great rewards and great risks; it’s like bringing the casino to capitalism.” Olga Vorobyeva (Olga Vox), the founder of Vox Consulting, told me.
And he should know. He founded Vox Consulting – a marketing company for blockchain, DeFi and NFT startups – Vorobyeva is a partner at Crypto PR Labs and former Head of Marketing at SwissBorg – the first crypto wealth management platform. Known as a founding member of the Swiss Blockchain Association and an advisor to Swiss Startups, she has been an active voice in the blockchain community since 2014, building communities of technology entrepreneurs around the world and speaking at major blockchain conferences and gatherings around the world.
“I studied finance and economics and started my career with BNP Paribas Bank, where I was responsible for white label projects for large international companies like Sanofi, Coca-Cola, Volvo, Volkswagen Group, Jaguar and Land Rover,” Vorobyeva said. . This work was a crossroads between finance and marketing, so I quickly learned how to turn people on and create to help them fall in love with financial products. “
Vorobyeva’s friend and peer Daniel Bessmert – a former C-level executive at PayPal, Citibank and Visa – came to him with an interesting idea to launch a cutting-edge payment solution app.
“We started GetZash in 2014, and a year later, the outing was a success,” Vorobyeva said. “It gave me a lot of inspiration, and since then I’ve been involved in FinTech startups as a marketing consultant, mentor and consultant.”
Since then, being at the forefront of financial solutions, it is natural to be the focus of DeFi Vorobyeva, especially considering that she has been the ultimate hockey stick in this area.
“Decentralized finance has been a trend for a while, and we are now sitting on a market capitalization of $ 80 billion,” Vorobyeva said. “In 2021, the assets locked in DeFi projects grew by 385%, according to DeFi Pulse. At that rate, all assets would break $ 800 billion by the end of next year, and that’s just the beginning. ”
That’s impressive, but it’s still a long way from the assets at stake through traditional financial systems. What will it take to be a major DeFi?
“The main players are already involved,” Vorobyeva said. “Many companies and financial institutions in TradiFi have started looking for ways to support and participate in DeFi. For example, one of the 75 largest banks in the world is testing blockchain technology to accelerate payments within the Interbank Information Network, led by JP Morgan, ANZ and Royal Bank of Canada. The name of this trend is CeDeFi (Centralized Decentralized Finance) as a more distinct and institutional branch of DeFi. ”
But as the small print of any financial product says, the value of your investment can go down, which is also the case with the DeFi project, which is still in its infancy. However, unlike in the early days of traditional finance (and some would even say today), where corruption and fraud were rampant, the blockchain has a sleeve on it.
“The innovation made by smart contracts can move cryptography automatically based on the rules set out in the computer code, allowing us to repeat almost all the services of a bank for crypto, without the need for a bank and to enforce those rules.” Vorobyeva said. “Considering that two-thirds of people don’t have a bank account but have smartphones, DeFi has the power to open up finances and that’s exciting.”
It is likely that DeFi will continue its rapid growth for a while, especially considering the interest and involvement of the traditional financial behemoth. The rise in the $ 80 billion locked-in value of just $ 10 billion over the past year shows how fast the sector is growing. So what’s next for Vorobyeva?
“Vox has helped blockchain projects that have facilitated economic growth around the world, as well as in developing countries, by providing the community with easier access to capital and financial services, and we will continue to do so,” Vorobyeva said. “Millions of people will be able to invest now, send money across the border, save for the future, and create amazing business opportunities thanks to the opportunities that cryptocurrencies put on the table.”