DeFi needs real-world adoption, not just disruptive pioneering

Satoshi Natakmoto’s anonymity and powerful mining-incentive mechanism are key examples of what made (BTC) unique and led to its unparalleled success. But for truly democratized money and finance to be achieved, it is worth reminding enthusiasts that Bitcoin was an iteration in a series of trials and errors that go back as far as the 1980s.

David Chaum conducted research as early as 1982 that laid the groundwork for the invention of “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups.” Other cryptographers — including Adam Back, Hal Finney, Nick Szabo and Vitalik Buterin, to mention just a few — have also been hugely influential in pushing the groundbreaking technology forward. Thanks to these early pioneers, we are now embarked on a journey that will continue long into the future as experts and tinkerers relentlessly look for ways to improve on the existing and solve real-world problems.

Mark Smargon is the CEO of Fuse, a payment network that allows users to create microeconomies around a communal token. He has over 20 years of experience with web technologies and understands how to leverage them to meet market needs. Previous companies founded by Mark include Colu, and Creatix.

Aly Madhavji is the managing partner at Blockchain Founders Fund, which invests in and venture-builds top-tier startups. He is a limited partner of Loyal VC. Aly consults organizations such as INSEAD on emerging technologies and the United Nations on solutions to help alleviate poverty. He is a senior blockchain fellow at INSEAD and was recognized as a “Blockchain 100” global leader by Lattice80. Aly serves as a board member of CryptoStar Corp. and has served on various advisory boards including the University of Toronto’s Governing Council.