Kicking off the yearly Ethereum (ETH) hackathon ETHDenver, the CEO of Aave Stani Kulechov shared his opening address which focused on “leaping decentralized finance to the mainstream.” All about more adoption.
Ethereum (ETH) Price Today – ETH / USD
Aave is a Switzerland-based Blockchain-based company that was officially launched in September of 2018. Aave is acting as the parent company to ETHLend. ETHLend is a decentralized financial platform or marketplace designed to provide asset-backed loans to users. According to Kulechov the cross-application coordination, as well as cooperation, remains key to seeing more mainstream adoption of decentralized finance.
Bringing in More Users into Decentralized Finance
Kulechov had plenty to say regarding leaping decentralized finance to the mainstream. In his words:
“We need to approach the issue of adoption from an ecosystem point of view. You may be building a project relating to decentralized finance. Each of these projects has a use case. But it is only if you can connect these decentralized finance applications that you can succeed in forming an ecosystem where more users will be brought into the system.”
However, while stressing that mainstream adoption is not the main aspect of app development, Kulechov went on to add that “decentralization is a matter of choice.” According to the Aave CEO, for some developers “it may be a good idea to remain focused on the phase of decentralized users who have privacy concerns.”
New Set of Decentralized Applications Growing in Number and Popularity
Additionally, as highlighted by Josh Stark who serves as the head of operations at Ledger Labs a Blockchain consultation firm spoke on the matter via a blog post. According to him, there’s a new wave of dApps (decentralized applications) growing in both popularity and numbers on the Ethereum (ETH) Blockchain.
Popularly called “decentralized finance apps” or “defi” apps, these dapps on the Ethereum (ETH) network give users a new set of tools to manage when using their Ethereum-based tokens or assets, Stark highlights in his post regarding the matter.
As such, today’s talk by the CEO of Aave is actually one of a number of issues centered around the topic of finance.
Talks Expected to Hold Later in ETHDenver
As per the report, more defi-related talks are expected to be held much later today at the ETHDenver conference, and they include an address by Alex Bazhanau the CTO of crypto lending platform Bloqboard. There will also be an address by the co-founder of the decentralized lending platform bZx’s Tom Beam.
The defi app narrative will then continue tomorrow with another panel discussing on the issue about the roadmap for many of the finance-focused applications on the Ethereum (ETH) network with a panel discussion between a host of defi startups including the likes of bZx, Set Protocol, Wyre and Zerion.
In other news, a fresh proposal for a Bitcoin ETF is back on track following a fitful start with the Securities Exchange Commission.
Bitwise Asset Management had officially proposed the concept on January 9 to the Securities and Exchange Commission. The firm highlighted in its Form S-1 registration statement that the Bitwise Bitcoin ETF Trust will be designed to track Bitcoin’s Total Return Index, in a bid to capture the full value of investments in bitcoin, “including meaningful hard forks.”