It is time for governments to recognize the value of blockchain technology
DeFiVerse, an asset management platform in the crypto ecosystem for creating, managing and investing in decentralized crypto funds, acts as a link between crypto fund managers and traders and retail investors. In an exclusive interview with Bizz Buzz, Akshay Bajaj, CEO and co-founder, DeFiVerse, explains more about his Web 3.0 startup that aims to accelerate crypto activity in India through education on the technical and financial principles of cryptocurrency.
What services does ‘DeFiVerse’ offer its audience? What made you start DeFiVerse?
We discovered over the past few years that it was difficult to manage our clients’ crypto assets across multiple protocols. We also noticed a lack of good asset management platforms in the crypto ecosystem. We found inspiration for our latest venture, DeFiVerse, while solving these problems. It is a platform for creating, managing and investing in decentralized crypto funds. DeFiVerse acts as a link between crypto fund managers and traders, and retail investors looking for alternative investment opportunities. Managers can launch funds and profit from their strategies. Investors, on the other hand, get access to strategies developed by the industry’s top minds. All of these transactions occur in a permission-free, non-custodial manner. Simply put, there are no middlemen, everything is transparent, and the investor has full control over his funds at all times!
What is the USP of ‘DeFiVerse’? What benefits does it bring to the crypto community?
DeFiVerse has a number of advantages over its competitors. The primary benefit is a proprietary fee structure that compensates fund managers fairly for their services. Although this is a fundamental aspect of traditional fund management, building the infrastructure to support this fee model is a significant challenge in the decentralized space. To put this system in place, we have created completely new smart contracts.
Our tokenomics is another significant differentiator. The model incorporates the best features of all our competitors, while introducing some completely new concepts! The nature of our smart contracts is our third differentiator. Our code was written in a fully modular format. This means that we will be able to easily test and implement upgrades and extensions. We are also very gas efficient. As a result, our protocol will have the lowest transaction fees in the crypto asset management industry!
We also have many other distinctive features, such as an elegant and intuitive UI/UX and some extremely flexible revision systems.
What are the implications for the Indian financial sector?
Cryptography is limitless by definition. This means that the benefits of DeFiVerse are not limited to a single country. While DeFiVerse’s services will undoubtedly accelerate crypto activity in India, we believe the most important value we will add is growing the crypto community in India through education on the technical and economic principles of cryptocurrency.
As a Web 3.0 startup in India, we believe that our understanding of cryptocurrency and community psychology can be used to create an amazing knowledge hub. We hope to grow our product and community by providing information on YouTube, Twitter and other media.
Considering India’s volatile cryptocurrency industry, what is the future of decentralized finance in the country?
If I had to describe the future of DeFi (decentralized finance) in India in three words, they would be revolutionary, inclusive and uncertain.
If governments can recognize and appreciate the inherent value of blockchain technology, I believe India will be a crypto and DeFi powerhouse in the next decade. Just as India has embraced the IT space, our inherent academic strength will bring the brightest minds to the crypto world.
While the legislative side of DeFi has a bleak future, the technological side has only one bright future: radical improvements in economics and web development.
