- Maple Finance CEO Sidney Powell not too long ago sat down with Scott Melker for a podcast.
- Powell talked in regards to the potential of the DeFi market, amongst different matters.
- Powell talked about that the DeFi market could possibly be 100 occasions bigger.
Sidney Powell, CEO of Maple Finance, not too long ago met with Scott Melker to debate the potential of the DeFi market. In the course of the podcast, the duo talked about quite a lot of matters together with the FTX impact, the position 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 have been to make use of DeFi, it is easy to see a world the place DeFi is 100 occasions 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 substitute for legacy techniques, if he sees it as a parallel rail, or if he sees legacy techniques evolving and operating on DeFi. He additionally cited the examples of JP Morgan and Goldman Sachs (NYSE: ) when asking if they may use DeFi sooner or later.
However Powell talked about that he would not suppose that is occurring. “I do not suppose so. I believe they may begin utilizing instruments, however I believe it is an innovator’s dilemma.
Melker additionally questioned how AI may have an effect on it. Powell responded that AI is sort of a cost-cutting instrument. In a method, it may assist builders be extra productive and assist with credit score standing, which in some ways may assist maintain prices down.
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