All about the potential of decentralized finance panel discussion

On 14 October, BlockStart partnered with Startup Lithuania to promote a much needed discussion on decentralized finance – why will it make a difference and where it is headed

On the 14^th of October, at 1pm CET (Brussels Time), all eyes were on BlockStart’s Panel discussion on the potential of decentralized finance, live on Facebook, organized by CIVITTA in the scope of BlockStart’s programme. This Panel discussion was held in the framework of Startup Fair, an annual and the main international startup ecosystem event in Lithuania.

Our experts, Mr. Martin Quensel, Co-Founder of Centrifuge, Mr. Kel van Schreven, Co-Founder of KR1, and Mr. Marc Zeller, Integrations Lead at Aave discussed how decentralized finance works, what are its benefits and drawbacks, areas of practical application and chances for innovation. This panel was moderated by Vytautas Černiauskas, Expert at Civitta and Startup Division, also member of the BlockStart Team.

During the discussion, it became clear that decentralized finance (DeFi) can make a difference as it could be the foundation of a new financial system, giving people full control of their finances without a middle-man, no entry barriers other than tech, instant transactions and running on a trustless decentralized infrastructure.

According to our experts, the current boom regarding decentralized finance is three-fold: bitcoins, decentralized exchanges and Government’s tokens have provided value to people using this system and shipped improvements on early experiences on decentralized finance. This helped creating a new industry, which is still in the beginning, but has much to grow as it can be considered the new financial system for anyone doing crypto.

The event was very dynamic, and our experts surely were able to engage the audience until the last minute. In the end, the question on everyone’s minds was: what is the future of decentralized finance? According to our experts, current developments already show that blockchain can prove its utility and is more than cryptocurrency, and it is thus expected that millions of people might be using DeFi in a near future without even knowing.

What a great event this was! Whether you did not have the chance to watch the Webinar or you enjoyed it so much that you want to go for it a second time, here is the recording of the event: