Maja Vujinovic, founder and CEO of AI and blockchain financial services company OGroup, said at the 2022 StartmeupHK Festival that DeFi still needs major innovations before it can surpass traditional finance.
Mass adoption will require an assessment of the blockchain technology itself, including the infrastructure, protocols and applications that make it easier and faster to use. Consumer protection and emerging markets will also be key to the asset’s success.
If you look at what’s been happening in crypto lately, smart contracts themselves are doing very well in terms of accountability and technology, but the CeFi platform, Celsius and Voyagers are poorly managed. The fact that cryptocurrencies are hard to use, it’s hard to understand how you sell escrow, how to transfer, I think there needs to be more education on what people can do once they hold cryptocurrency.