DeFi Dad got into the cryptocurrency realm in 2017, however his involvement really intensified after the bull market peak in early 2018.
Despite the market dip that followed, he chose to stay in the crypto world and dedicated himself to DeFi, which became something of an obsession for him and led him to make a series of instructional videos to welcome new users to this sector.
He defined decentralized finance as monetary applications without the need for authorization, trust or geographic boundaries. During the dialogue, DeFi Dad highlighted the importance of trustlessness while pointing out the contrast between decentralized applications and centralized ones like FTX, which he labeled as a bank.
According to him, the recent issues have made a powerful argument in support of DeFi, both for regular users and investors. He also added that his investment firm had received more projects from new startups creating decentralized services, but he was worried that some of these creators might not be able to launch due to the lack of funds in the industry. In the episode, Elisha and DeFi Dad also discussed their predictions for the future of decentralized finance, with DeFi Dad believing that there will be a huge rise in economic activity in the DeFi sector, from those employed by decentralized platforms to the total value locked reaching one trillion dollars within five years.