- Maple Finance CEO Sidney Powell just lately sat down with Scott Melker for a podcast.
- Powell talked in regards to the potential of the DeFi market, amongst different subjects.
- Powell talked about that the DeFi market might be 100 instances bigger.
Sidney Powell, CEO of Maple Finance, just lately met with Scott Melker to debate the potential of the DeFi market. Through the podcast, the duo talked about a wide range of subjects together with the FTX impact, the function of AI, asset labeling, the lending enterprise and extra.
Talking in regards to the DeFi market, Powell talked in regards to the reluctance of banks and different monetary gamers to make use of sensible contracts and cryptocurrencies due to what they understand. Powell talked about that this is because of regulatory uncertainty.
He additionally acknowledged that if these monetary establishments had been to make use of DeFi, it is easy to see a world the place DeFi is 100 instances greater within the subsequent ten years, relying on who’s concerned.
Melker, who’s the host of the podcast, requested if he sees this as a alternative for legacy methods, if he sees it as a parallel rail, or if he sees legacy methods evolving and working on DeFi. He additionally cited the examples of JP Morgan and Goldman Sachs, asking if they’ll use DeFi sooner or later.
However Powell talked about that he would not assume that is taking place. “I do not assume so. I feel they’ll begin utilizing instruments, however I feel it is an innovator’s dilemma.
Melker additionally questioned how AI might have an effect on it. Powell responded that AI is sort of a cost-cutting instrument. In a technique, it might assist builders be extra productive and assist with credit score standing, which in some ways might assist maintain prices down.
