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Video21 Oct 2022

Use Cases of Web3 and Blockchain

Stani Kulechov, Founder & CEO, Aave joined us to discuss various use-cases of Web3 & Blockchain in finance and social media.

Stani believes curiosity makes finance better and creates a space to innovate. Web3 and Blockchain can enable “decentralized” finance and bring benefits of transparency, non-custodial access, creating global liquidity markets, market check based execution and community governance. However, for mass adoption, we need institutional adoption of DeFi, which today is quite nascent. Stani also talked about the Lens Protocol, a decentralized social media platform, wherein users have sovereign ownership of their profile and can choose what experiences and algorithms that serve them the most rather than bartering their data/attention in return for ads/experiences. Furthermore, DAOs are a good way to govern protocols, networks, public goods but is slower or ineffective when governing a company or building a specific product.

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