New „cypher capitalism“ on display at DeFi on the last day of Blockchain Summit Latam

On a final day of the Blockchain Summit Latam, we were able to see a vision and perspective of DeFi within traditional finance.

As part of the presentations, a panel called „DeFi the Cypher Capitalism of the 21st Century“ was presented by Anthony Chávez Marketing Manager of Mexo and host of the „DeFi en Español“ podcast.

From the beginning we could see how Chavez explained that the Blockchain Golden Profit and DeFi technology beyond a change in the markets or industries, is generating a change in people’s ideas and thoughts about the financial system, especially in the way financial services are perceived.

Likewise, Chavez also stated that within the DeFi ecosystem, a division between „two worlds“ has been generated, explaining that the traditional market is perceived as different to DeFi, despite the fact that they are the same financial services. However, he explained that from the first world, three main different things are provided: Access, transparency and decentralisation.

New financial services

To explain what new DeFi is bringing, he focused on the stablecoins, presenting the case of IAD as a stable currency that is managed and directed by the community itself. He also mentioned the Liquidity Pools, which he clarified is a way of „changing the paradigm“ to the exchange houses where it is the users themselves who provide the liquidity within the market.

The synthesized assets were also presented, exposing that they can be a change when seeing the assets and derivatives that move within the market. The Flash Loans was another element presented in the presentations, a change that is focused, as Chavez told us in his speech, to change the whole system of credits and loans within finance as we know it.

„New ideology or new tools? We still don’t know“ was a phrase that Chávez used to close his presentation and introduce the audience to the fact that many things within the ecosystem have yet to be defined, although he still declared that everything that is happening within this approach is „exciting“.