Will 2024 be the best year yet for DeFi?
In the 50th episode of the Hashing It Out podcast, host Elisha Owusu Akiau talks with Sonali Giovino, global head of ecosystem at De.Fi, about the decentralized finance (DeFi) ecosystem. As the crypto space sees signs of a bull run, Giovino breaks down the power of Defin, issues with the sector and how it could affect mass adoption in the coming years.
Giovino believes that the decentralized financial world has laid the groundwork for greater growth as the market turns green. However, she also points out that now is the most important time to consider the various risks in the DeFi sector, from security to regulations.
Giovino said that while security is always the biggest concern, many smart contract vulnerabilities have caused significant losses over the years. She added that until recently, not enough attention was paid to the security issues of DeFi. This is changing as more developers work with auditors, more companies build security tools for consumers, and more events focus on DeFi security.
Despite the risks, Giovino encourages people to get into DeFi because it empowers:
“Sometimes I think people are worried about people getting into the DeFi space because of crypto scams or because of the volatility and risk. But one of the things that really inspires me and shines a light on is that DeFi is not only disruptive, it's extremely powerful. It's about getting people around the world to create solutions and some of them all.” It empowers people to deal with issues that affect them.
Listen to the full episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn, and check out Cointelegraph's growing catalog of Web3 podcasts.
Magazine: Tencent's AI leviathan, $83M fraud debunked, China influencer banned: Asia Express
This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.
