Thanks for having me. Though I have limited time last evening, we still managed to talk about: #Defi#High Gas Fees, Failed Transactions and the promising #Justswap by @justinsuntron@Tronfoundation. Thanks to admin @jennyzheng719@khate_ch@Tabachichi27@klapklapco@ShujaHashmihttps://t.co/jNaROvgXsM
— Anndy Lian #Blockchain #Crypto #ABC 💛💛💛 (@anndylian) August 15, 2020
Blockcast.cc: Thanks for the time everyone. Today at Asia Blockchain Community, we want to answer some of your questions on DeFi since we have several AMAs in the past one month. Drop your questions now.
Anndy Lian will try to answer them. Anndy Lian is an intergovernmental blockchain advisor. His latest appointment is the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group where he looks after the governance and compliance aspects of the business. Hi Anndy.
Anndy Lian: Thanks, sorry I had limited time today. I will try to take on 3-5 questions.
Questions from the channel (https://t.me/Blockcastcommunity):
What are your expectations in the future implementation of the Blockchain Technology? In what way will the average person be influenced by Blockchain?
Jack ♥️♥️♥️, [14.08.20 19:43] What is the transparent part of the token
Jack ♥️♥️♥️, [14.08.20 19:44] Can we stake credit and the other token ??
Abid Rana, [14.08.20 19:44] Defi is taking the market, are not people running behind making their investments double instead of solving real-world problems?
❤❤❤Momma Apple💛💛💛, [14.08.20 19:44] Give Insights on DeFi market and future opportunities.
Jenny Zheng, [14.08.20 19:45] Guys, Q&A will not be relating to PROXI, can ask anything relating DEFI
Jack ♥️♥️♥️, [14.08.20 19:45] What major part will solve it DEfi ? What is ETH difference with this
Jack ♥️♥️♥️, [14.08.20 19:45] Is Defi is full transparency and full secure..?
♥ #Ms khate 💛👈, [14.08.20 19:46] With the emergence of new cryptocurrencies, utility tokens what can #defi project offer to the investors and coin holders in terms of the sustainability and stability of this platform?
Jenny Zheng, [14.08.20 19:46] we will close the floor till 19:50 🙂 then Mr. Anndy will start to answer
Jack ♥️♥️♥️, [14.08.20 19:46] How Defi can impress new investors in Cryptocurrency?
♥ #Ms khate 💛👈, [14.08.20 19:47] How does #defi project provide real-world data to smart contracts?
Jack ♥️♥️♥️, [14.08.20 19:47] Did Defi is good in a real lifetime,?
❤❤❤Momma Apple💛💛💛, [14.08.20 19:47] Give Insights on DeFi market and future opportunities.
Shuja Hashmi, [14.08.20 19:47] What is future Of DeFi project’s after YAM Scam? How average person will gonna Trust on DeFi Projects?
Venkatz K, [14.08.20 19:47] Is De-Fi is fully Structured or still runs on Trial and Error Method?
Jack ♥️♥️♥️, [14.08.20 19:48] How Defi can maintain their success? Or it will go down?
♥ #Ms khate 💛👈, [14.08.20 19:48]
Community support is by far one of the biggest factors for the success of a project.
What has the team #defi has planned on increasing the user experience?
How can the community get involved and be a part of your projects?
Abid Rana, [14.08.20 19:48] #Defi is everywhere, in fact, taking over the whole market which is already in its evolution stage. New people scamming using the defi projects, what do you think will not hurt already shaking the reputation of crypto as it is very easy to be used for terrorist activities
Jack ♥️♥️♥️, [14.08.20 19:49] Are there big Communities of Defi or small community of every Defi project?
Jenny Zheng, [14.08.20 19:49] 1 more minute 🙂
Jack ♥️♥️♥️, [14.08.20 19:49] Defi can change real life of people’s to help like in Fiat market?
Jack ♥️♥️♥️, [14.08.20 19:50] What inspired you about Defi??
Jenny Zheng, [14.08.20 19:50] floor will be closed
❤❤❤Momma Apple💛💛💛, [14.08.20 19:50] Q. What are the benefits of Defi project in everyday usage i? How effective will they be if there is a market crush and why?
Jenny Zheng, [14.08.20 19:50] Mr. Anndy you can start to answer
Jenny Zheng, [14.08.20 19:51] @anndylian
— Replies —
Question 1: Shuja Hashmi:
Whether YAM is a pure error or they do it on purpose, I don’t know. But I do know that if a project pumps too high in a short time, this is not sustainable.
An average person should not invest in DeFi. They should know what is DeFi before putting their hard earned money into it.
Right now it is the bull market (in my own opinion), we need to manage the risk properly. We should not overleverage ourselves and believe that a token could be pumped to 1000% returns.
So if we control our greed, then we will most likely fall into the trap of fake DeFi.
Question 2: Jack
Defi can change real life of people’s to help like in Fiat market?
This is a double-edged sword.
While many complained about fiat, many love fiat because they know how to navigate in the financial system.
So for a straight forward answer: Yes DeFi will change our lives. CeFi and DeFi are complementary to each other.
So in order for DeFi to make it big, we need more decent projects, better people running them and not let history repeats itself by allowing the traditional banking people to ruin this again.
Question 3: Mahathi
What about JUSTSwap?
In one of the article where the editor asked for my opinion, I said that ETH is taking the lead and all others are chasing his tail.
This is still the case.
But Tron and its ecosystem may be able to change some of the Defi problems that we are facing right now. Gas fees
If you are into Uniswap and all, you will notice that the gas fees are very high right now.
Well many of us are able to pay it since the possible returns are high enough to cover the cost.
I cannot accept the fact that when I pay a high gas fee and the transaction still fail.
Imagine each transaction fail will means that we pay around $5 for a fail transaction.
It is not right to charge for fail transactions.
And since it takes time, we lose gas fees and also opportunity cost.
This is a double loss for many of us.
So I do hope to see JUSTswap making a difference in it
Blockcast.cc: Thanks, Anndy for his time. Stay on Asia Blockchain Community to learn more about blockchain. See you soon.
About Asia Blockchain Community (#ABC):
Asia Blockchain Community (ABC) is a community that is based in Asia and run by Asian. We know the market very well and is backed by panel of blockchain & crypto experts and influencers. Our mission is to create value for projects & members & educate the general public about blockchain and crypto through the work in our community.
Blockcast.cc is a broadcasting news source for the blockchain community. Founded in South Korea and Singapore, Blockcast has a network of contributors in China, Hong Kong, South Korea, Singapore and Malaysia. We have helped global blockchain and cryptocurrency companies reach their marketing, public relations and advertising goals.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.