Decentralized Finance Started with the Romanticizing Picture of Becoming Your Own Bank

DeFi of Everything

The global economy is going through turbulent times, and we always bullish on the prospect of crypto and DeFi as well, we believe that DeFi in its current state should mature to the point that it might be capable of expanding over to more production-oriented areas within the real economy in the future.

As we always say, what an avenue is for a car, finance is for money. So, that being said, it’s good to remind you about the blog about decentralizing the events vertical, we’ve posted a few days back, where we described how to split the revenue evenly among speakers and organizers.

Although we’ve started using PayPal to broad the appealing among attendees, in the future it’ll be crypto denominated all the way, where funds may have individual path since the beginning to an end, based on what it’s assigned to the smart contracts -code wise.

That is that every single speaker can have set up a particular smart contract where the finances are already programmed, including the financial model the earned funds will go through. That’s amazing and where DeFi of the future or DeFi of Everything will go to eventually reach mainstream objectives

That’s the reason we’ve invited Morne Olivier, who’s also one of the guest speakers coming to DeFi of Everything for Everyone, Virtual Summit, this April 14th, and 15th, who we had this little chat about crypto, the basics of DeFi, Bitcoin and some other good things.

Morne he’s an entrepreneur from South Africa, and founder of Business2Blockchain. A few days back we sent him a questionnaire, here you can read the interaction we had.

Morne Olivier, CEO

(DOE) Bitcoin maximalists are increasingly speaking about crypto being at the
forefront of the 4th industrial revolution -and especially Bitcoin. However, some figures are showing a different reality as they're showing that roughly 80% of BTC in circulation is under the ownership of 2% of the miners. Primarily Chinese miners.

Based on data piled up by different sources, 67% of the entire BTC supply minted and in circulation hasn’t been used so far. They’re still under custody and no one is currently using it. So, it may be possible that 67% of the BTC minted is frozen in cold wallets saving it for later?

So, being that way, how an industrial revolution can be fueled by crypto assets that are not circulating and are controlled by only a handful of actors?

(MO) – Does Bitcoin actually need to be used as a currency?
– Should the value of Bitcoin not be driven by it’s Blockchain Technology as a digital stock option, that has use cases far beyond transactions?
– Bitcoin and the Decentralized movements is being developed and built to use data, (data as a whole) in a secure, transparent way with no 3d party control, governing and manipulating data to suite it’s own needs.

Therefor I am led to believe that we are only in the beginning stages of understanding what Blockchain Technology can do for us. At the best we are trying to solve current problems with Blockchain Technologies, but once the problems are solved and there’s enough use case, can it stay decentralized? Does that Digital Stock Blockchain then not turn into everyday intrinsic value to become worth something more tangible than speculative transaction volumes.

If I had Bitcoins, I would just be buying it to put it away for future value as a stock option.

(DOE) Publishing organizations may end up facing hard times ahead when the development of decentralized networks gets larger. Enforcing actions like DMCA takedown notices or IP infringements will be hard to enforce. What do you think will be a way for DLT/Blockchain operators to maintain a network that takes care of these legal loopholes?

(MO) I think the development of IPFS Networks will be a game changer for sharing information and maybe it could help with traceability.

(DOE) As smart contracts are growing in popularity, what will be the future for law enforcement agencies, collegiate attorneys and even courts of justice around the world if payment-related activities can be solved through the implementation of smart contracts?

(MO) There business models will be reduced significantly, and this is not necessarily a bad thing.

At the stage of realising this fact they should indeed embrace Blockchain Technology to not be left behind. They need to take hold of the Technology and use it to benefit society and upskill individuals. Current business models of 3d party, drawn out, costly administrational “extortion” should be a primary goal of smart contract engagement to change. This is in a way idealistic because of the obvious resistance one would face, but I think in time the snowball effect of the technology will just be to much. Humans however would probably think of another way to make it benefit them or should I say a top % of them.

(DOE) As DeFi is gaining traction, many critics are complaining that this model is not making money but that’s nothing but a marketing name to cover those loans done under a non-custodial agreement or without direct custody of the assets. My question to you will be, is it real decentralized finance or it is a way to manage transactions in a format where the assets remain in the hand of the loan recipient?

(MO) Currently I think it’s a bit of both. I think there are great creative ways Developers are coming up with new ways to loan funds and get some ROI. They are further automating banking/finance processes and making it easy enough with normal people to interact with, just like a game.

Going Decentralized with your funds is just that, the holder of the keys, but sending it from there onto smaller DeFi “experiments is just that, speculative and risky. It does however hold a form of adrenalin, if you are inclined to take risks. Know your community, know your Dev/Architect, build personal relationships with the ones you get on with, listen to your gut, and …well for the long term you might just end up in the right financial tool that will “bank the unbanked.”

(DOE) Since tokens’ unit of measure appears to be the USD, where every single path to wealth is heading to an exit that ends at ETH/BTC and USD. Don’t you think that transactions like these may put extra pressure on inflation rates by adding actors to chase the same amount of dollars circulating in an economy facing product scarcity due to Coronavirus?

(MO) The whole success of Decentralized finance started with the romanticizing picture of becoming your own bank, and certainly it has a great appeal, I think there’s enough people tired of being taken for granted when it comes to who, why and how money is proportionately distributed, with the most going to the least.

Can it sustain itself or will it just be crushed by institutional money, maybe a 0% interest rate is just what the world needed, the 4th industrial revolution…right?

I am totally focussed on building a creative, smarter and empowering business within Blockchain Technology. I do not endorse any financial instruments, but rather seek to improve business models and by doing so the improvement of spreading the wealth that is created within these models. Automated, Immutable and Transparent, giving anyone that can read an opportunity to become a part of it.


We’d like to remind you about the line up of novel speakers that are coming from all over the world to share their knowledge, insights and guidance live at DeFi of Everything for Everyone, April 14th & 15th.

For additional details, please check here:

About DeFi of Everything

DeFi of Everything is the convergence of a myriad of organizations, startups, co-founders, executives, and researchers to expand the knowledge of decentralized finances looking to augment its adoption worldwide. For more go to


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