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Product Hunt Founder Claims DeFi Natives Won't Have Patience for CeFi

Fri, 10/08/2021 - 12:58
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Vladislav Sopov
Ryan Hoover, founder of iconic platform Product Hunt, shares his views on CeFi and Defi
Product Hunt Founder Claims DeFi Natives Won't Have Patience for CeFi
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Mr. Hoover indicates the category of users that will be too impatient to use "centralized finances" instruments in the near future.

Is patience a virtue?

According to the statement shared by Mr. Hoover on his Twitter account, cryptocurrency users will not have enough patience to interact with classic financial institutions.

In particular, those who have "grown up" in the decentralized finance (DeFi) era will have a hard time using CeFi tools.

The entrepreneur and investor described his recent experience with a mortgage application. Mr. Hoover recalls that it took several hours and numerous human interactions to submit all of the necessary documents.

The Web3 world will not need such cumbersome and resource-inefficient procedures, Mr. Hoover foresees:

All of that friction goes away once everything's on-chain.

DeFi is stealing CeFi's thunder at an increased pace

Susa Ventures' Leo Polovets adds that the number of "impatient" users irritated by CeFi bottlenecks will be far more impressive:

I grew up on CeFi and already don't have much patience for it.

As covered by U.Today previously, after a minor drawback, the total value of assets locked in various DeFi protocols printed another historic high.

DeFi Industry Reaches New ATH with $210 Billion Total Value Locked Thanks to These Projects

DeFi "degens" injected $210 billion in different assets into mainstream protocols, according to on-chain data analysis. Curve, Aave and MakerDAO led the way of this upsurge.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)