Decentralized Finance Lending Explored in Podcast with MultiChainZ COO
Summary:
In a recent Cointelegraph podcast, MultiChainZ COO, Aanchal Thakur, shared insights into decentralized finance lending. Thakur explained the benefits and risks of cross-chain lending and advocated for greater security and compliance to attract institutional investors. She also underscored the importance of working with regulators to bring finance and technology closer through a decentralized environment.
In a recent episode of Cointelegraph’s Hashing It Out podcast, Aanchal Thakur, the Chief Operating Officer of MultiChainZ, discussed the ins and outs of decentralized finance (DeFi) lending, a topic of great interest within the economic sector. Elisha Owusu Akyaw, the host, and Thakur conversed about the risks associated with a cross-chain lending platform and how it diverges from traditional platforms. The dialogue also revolved around the role institutions play, nonfungible token lending, and the concept of decentralized autonomous governance.
Thakur shared her initial introduction to cryptocurrencies when she fell prey to a crypto doubling con and learned the importance of comprehensive industry research. She later plied her experience to different projects, eventually finding a home at MultiChainZ. Thakur believes think that establishing a cross-chain lending platform is a sound move, considering the global scarcity of funds. By establishing such a platform across multiple networks, liquidity becomes more accessible for users.
She cautioned against relying heavily on a single network due to the significant risk it poses and suggested that decentralization could best be accomplished by utilizing an array of networks as she puts it, “the effect of a blockchain being dysfunctional, like Solana’s recent hours-long outage, impacts user trust significantly".
Aside from this, Thakur brought up the topic of engaging more establishments in Web3 via lending. In her view, security and compliance are primary concerns for institutional investors. Attracting companies managing hefty sums of investment would necessitate a higher security criterion. As for compliance, Thakur noted that even though many Web3 creators idealize a world without borders, reality dictates there are regulatory limits that require adherence. In her opinion, neglecting to collaborate with regulators will deter establishments from entering the ecosystem.
Listeners can tune in to the recent Hashing It Out episode on Spotify, Apple Podcasts, Google Podcasts, or TuneIn. Usage of the comprehensive podcast catalog of instructive podcasts on the Cointelegraph Podcasts page is also encouraged.
Please note that this summary does not offer any investment advice, rather readers should seek their own research before making any financial decisions, as each investment and trading move carries inherent risks.
Published At
10/19/2023 12:20:00 PM
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