Cryptocurrencies give assurance which makes an important source of investment right now and in the future as well. Another basic reason why cryptocurrencies have become extremely in demand is because of their policies. No one really needs to deal with a third party when it comes to cryptocurrency. Bryan Legend is an entrepreneur who is using this technology to gain success in business. He is the sole founder of multiple companies related to cryptocurrency projects. Bryan’s unique way of looking at rough situations only fuels his hunger and determination to succeed by seeing obstacles as mere hurdles to overcome rather than walls that cannot be crossed. With the sheer amount of personal attacks and attempts to discredit, Bryan Legend has remained resilient in the face of adversity and continues to prove doubters and haters wrong by making bigger and stronger waves in business.
Around the world especially in Australia, we can see the adoption of accepting bitcoin in all businesses including payments of employees in all major cities. Granted these businesses are mostly small retail shops and we haven’t yet seen employee wages being paid in Bitcoin, but we are seeing new Bitcoin ATMs popping up daily as well as new retailers accepting the digital currency. Like many other things, let time play out naturally and let adoption grow organically as people begin to trust Bitcoin more and more as time progresses.
Let’s have a chit-chat session with the successful entrepreneur Bryan Legend and know more about the crypto and blockchain environment in Australia.
Q: Please share some insight about your entrepreneurial experience.
Ans: - I always had a passionate desire to be successful in business. At an early age, I knew that I wanted to be my own boss, and working for other people wasn’t going to cut the mustard since I always felt I could improve things and do them a better way. I began starting up mini internet enterprises in different niches which ultimately led to upscaling things on a much bigger scale.
I taught myself each and every step of multiple ways from business basics to financial forecasting, networking, sales, marketing, advertising, SEO, SEM, and of course blockchain along with a little programming knowledge.
Q: What do you think of DeFi?
Ans: - Decentralized Finance is the key to unlock previously closed doors within the cryptocurrency arena with it being able to offer a true mechanism to grant the many with the edge instead of the few. No single entity should be in control of everyone’s money as the responsibility of control should lie in the hands of individuals to manage their own wealth accordingly.
I feel that DeFi is the way forward to fix the impact craters the major banks have made in this current economic climate.
Q: What positive effects do you think DeFi will have?
Ans: - DeFi opens up a new world of core benefits such as:
- True decentralization allows censorship resistance and worldwide participation regardless of social status and dispenses trusted third parties.
- DeFi applications allow the user to remain in possession of their own private keys. The user is in full control of their own money without a centralized third-party.
- Increased ecosystem transparency and thus price and market efficiency.
The future of DeFi
While the stack of decentralized financial apps has become broader, most projects have struggled to gain traction beyond the users already familiar with blockchain and Ethereum.
To fill the gap between theory and practice DeFi has yet to overcome its core roadblocks: Low liquidity, unintuitive UX and accessibility, capital inefficiency, hidden risks, and regulation have somewhat stifled adoption. Owing to its nascency, these issues might be mitigated as the industry matures. Promising solutions are already on the way making 2021 an exciting year to follow.
