Decentralized finance (DeFi) will be part of many people’s lives in the future, says Jay Hao, the CEO of the crypto currency exchange, OKEx.
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Responding to Cointelegraph’s recent query about the inclusion of the DeFi Compound (COMP) protocol token in OKEx, Hao predicted that DeFi’s importance will grow over the next few years. He said he believes „that DeFi will disrupt traditional finances not too far into the future“ and explained:
„We are very optimistic about DeFi’s future and really believe that its products will be an integral part of many people’s lives in the years to come. … DeFi is especially relevant at this time when fiat currency is beginning to raise questions among people about the uninformed (referring to quantitative easing) that could greatly reduce the purchasing power of their money.
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In addition, Hao explained that she believes DeFi’s main advantage is that it can provide financial services to „people who are currently excluded or underserved by traditional finance. She said that there are nearly 2 billion unbanked people around the world who could live better with such services.
Compound is among the most important services.
Speaking specifically about Compound, Hao said that „it is possibly one of the most important services in the crypto ecosystem today. According to the DeFi Pulse decentralized financial data website, Compound’s total of USD 687 million in blocked funds is the highest in the entire DeFi ecosystem.
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As Cointelegraph reported in mid-June, the compound token has become the largest DeFi token by market capitalization after its first day of trading. A more recent analysis sheds light on the likelihood that the project will maintain the top spot.