Quick AMA with Anndy Lian on DeFi at Asia Blockchain Community
Blockcast.cc: Thanks for the time everyone. Today at Asia Blockchain Community, we want to answer some of your questions on DeFi since we have several AMAs in the past one month. Drop your questions now.
Anndy Lian will try to answer them. Anndy Lian is an intergovernmental blockchain advisor. His latest appointment is the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group where he looks after the governance and compliance aspects of the business. Hi Anndy.
Anndy Lian: Thanks, sorry I had limited time today. I will try to take on 3–5 questions.
Questions from the channel (https://t.me/Blockcastcommunity):
Shuja Hashmi, [14.08.20 19:43]
DeFi is one of the hottest topics in the blockchain space right now. Do you think DeFi will disrupt the existing financial system?
What are your expectations in the future implementation of the Blockchain Technology? In what way will the average person be influenced by Blockchain?
Jack ♥️♥️♥️, [14.08.20 19:43]
What is the transparent part of the token
Jack ♥️♥️♥️, [14.08.20 19:44]
Can we stake credit and the other token ??
Abid Rana, [14.08.20 19:44]
Defi is taking the market, are not people running behind making their investments double instead of solving real-world problems?
❤❤❤Momma Apple💛💛💛, [14.08.20 19:44]
Give Insights on DeFi market and future opportunities.
Jenny Zheng, [14.08.20 19:45]
Guys, Q&A will not be relating to PROXI, can ask anything relating DEFI
Jack ♥️♥️♥️, [14.08.20 19:45]
What major part will solve it DEfi ? What is ETH difference with this
Jack ♥️♥️♥️, [14.08.20 19:45]
Is Defi is full transparency and full secure..?
♥ #Ms khate 💛👈, [14.08.20 19:46]
With the emergence of new cryptocurrencies, utility tokens what can #defi project offer to the investors and coin holders in terms of the sustainability and stability of this platform?
Jenny Zheng, [14.08.20 19:46]
we will close the floor till 19:50 :) then Mr. Anndy will start to answer
Jack ♥️♥️♥️, [14.08.20 19:46]
How Defi can impress new investors in Cryptocurrency?
♥ #Ms khate 💛👈, [14.08.20 19:47]
How does #defi project provide real-world data to smart contracts?
Jack ♥️♥️♥️, [14.08.20 19:47]
Did Defi is good in a real lifetime,?
❤❤❤Momma Apple💛💛💛, [14.08.20 19:47]
Give Insights on DeFi market and future opportunities.
Shuja Hashmi, [14.08.20 19:47]
What is future Of DeFi project’s after YAM Scam? How average person will gonna Trust on DeFi Projects?
Venkatz K, [14.08.20 19:47]
Is De-Fi is fully Structured or still runs on Trial and Error Method?
Jack ♥️♥️♥️, [14.08.20 19:48]
How Defi can maintain their success? Or it will go down?
♥ #Ms khate 💛👈, [14.08.20 19:48]
Community support is by far one of the biggest factors for the success of a project.
What has the team #defi has planned on increasing the user experience?
How can the community get involved and be a part of your projects?
Abid Rana, [14.08.20 19:48]
#Defi is everywhere, in fact, taking over the whole market which is already in its evolution stage. New people scamming using the defi projects, what do you think will not hurt already shaking the reputation of crypto as it is very easy to be used for terrorist activities
Jack ♥️♥️♥️, [14.08.20 19:49]
Are there big Communities of Defi or small community of every Defi project?
Jenny Zheng, [14.08.20 19:49]
1 more minute :)
Jack ♥️♥️♥️, [14.08.20 19:49]
Defi can change real life of people’s to help like in Fiat market?
Jack ♥️♥️♥️, [14.08.20 19:50]
What inspired you about Defi??
Jenny Zheng, [14.08.20 19:50]
floor will be closed
❤❤❤Momma Apple💛💛💛, [14.08.20 19:50]
Q. What are the benefits of Defi project in everyday usage i? How effective will they be if there is a market crush and why?
Jenny Zheng, [14.08.20 19:50]
Mr. Anndy you can start to answer
♥ #Ms khate 💛👈, [14.08.20 19:50]
What was the value of tron in market cap haha
Jenny Zheng, [14.08.20 19:51]
@anndylian
— — Replies — -
Question 1: Shuja Hashmi:
DeFi is a relatively new item and some say it is a fad. But to me, DeFi is giving us a new future to handle finance. So let’s not be unheartened by YAM and give a bad name to the whole DeFi market.
Anndy Lian:
Whether YAM is a pure error or they do it on purpose, I don’t know. But I do know that if a project pumps too high in a short time, this is not sustainable.
An average person should not invest in DeFi. They should know what is DeFi before putting their hard earned money into it.
Right now it is the bull market (in my own opinion), we need to manage the risk properly. We should not overleverage ourselves and believe that a token could be pumped to 1000% returns.
So if we control our greed, then we will most likely fall into the trap of fake DeFi.
Question 2: Jack
Defi can change real life of people’s to help like in Fiat market?
This is a double-edged sword.
Anndy Lian:
While many complained about fiat, many love fiat because they know how to navigate in the financial system.
So for a straight forward answer: Yes DeFi will change our lives. CeFi and DeFi are complementary to each other.
So in order for DeFi to make it big, we need more decent projects, better people running them and not let history repeats itself by allowing the traditional banking people to ruin this again.
Question 3: Mahathi
What about JUSTSwap?
Anndy Lian:
In one of the article where the editor asked for my opinion, I said that ETH is taking the lead and all others are chasing his tail.
This is still the case.
But Tron and its ecosystem may be able to change some of the Defi problems that we are facing right now. Gas fees
If you are into Uniswap and all, you will notice that the gas fees are very high right now.
Well many of us are able to pay it since the possible returns are high enough to cover the cost.
BUT!!!
I cannot accept the fact that when I pay a high gas fee and the transaction still fail.
Imagine each transaction fail will means that we pay around $5 for a fail transaction.
It is not right to charge for fail transactions.
And since it takes time, we lose gas fees and also opportunity cost.
This is a double loss for many of us.
So I do hope to see JUSTswap making a difference in it
Blockcast.cc: Thanks, Anndy for his time. Stay on Asia Blockchain Community to learn more about blockchain. See you soon.
Original Source: https://blockcast.cc/interviews/quick-ama-with-anndy-lian-on-defi-at-asia-blockchain-community/
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