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In this episode of #FinancialFox, Stefania explores alternative investment opportunities and the rise of Decentralised Finance (DeFi) with Clem Chambers, renowned investment guru, award-winning financial author and CEO of London-listed financial news platform ADVFN (AFN) and blockchain developer Online Blockchain (OBC).
The crypto space is evolving fast and a new industry is booming: DeFi. Its total value locked around $675million in January 2020; now it is worth approx $9.6billion – a 1,322% increase in 9 months.This nascent market aims to offer financial services via blockchain platforms with no need for centralised bodies likes banks and other financial intermediaries. Education is crucial to driving crypto adoption and investment. There is a learning curve in using cryptocurrencies, and those new to the crypto space should familiarise themselves with it and developments happening in the space.
Potential investors should remember that DeFi projects are in the early stages so caution is needed. Saying that, we can draw comparisions with the 90’s tech boom; some DeFi projects could turn out to be the next Amazon or Microsoft, says Clem. It is an infant industry but ‘the winners are going to worth a fortune in the future’. The key is to have a smart investment strategy and play carefully.
For those new to DeFi, start by looking at Compound, Maker and BlockFi.
Online Blockchain (OBC) is also actively looking into getting the DeFi space.
Read about DeFi here: https://medium.com/@cassiopeiaservicesltd/decentralised-finance-the-next-step-in-the-crypto-revolution-bbd83ce19c9c
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