BlockTower Capital CIO and Managing Partner Ari Paul has tweeted that market interest in DeFi is disappointing. He mentions that even products that work well attract little interest.
“Many working in crypto are frustrated/depressed because we’ve built some working decentralized products, but interest is low. Pre-launch optimism is unlimited. The toughest point is when the thing works but it seems like no one cares,” Paul writes. The comment has prompted a social media discussion of the speed of decentralized finance (DeFi) adoption and interest in DeFi. It has been widely liked and shared in the crypto community. He also tweeted, “It’s taking longer than I expected, but I think we’ll see some viral dApps [DeFi apps] around gaming/gambling in 2020.”
Responses refer to the need for more marketing and better communication to uninitiated target groups. Detractors claim that DeFi is addressing non-existent problems or attacked the concept outright as “snake oil.” DeFi solutions seek to provide financial services like money transfers and lending to wide cross-sections of populations including people without bank accounts.
BlockTower is a leading blockchain and cryptocurrency investment firm. It describes its approach as “applying professional trading, investing and portfolio management to an emerging digital asset class.” In the past, Paul has spoken of the limited crypto investment options beyond Bitcoin. He has also referred to DeFi solutions as options for hedging Ethereum assets.
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