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In this recent 4IRE Labs Meetup in Stockholm the topic in focus was DeFi vs Traditional Finance. The event was held in WeWork’s space in central Stockholm, where a crowd of blockchain, cryptocurrency, and Fintech enthusiast joined up to listen to four speakers from different areas in this exciting space.
The speakers that all had 30 minutes to share during the evening was, Frank Schuil, Сo-Founder crypto broker Safello, Marco Poblete, Co-founder of cryptocurrency index provider Vinter Capital, Max Semenchuk, Co-founder at Dgov and 4IRE Labs and finally security consultant Niklas Volcz, Co-founder from Springflod.
DeFi vs Traditional finance
The first speaker for the night was Frank Schuil of cryptocurrency broker Safello. Safello has created products to facilitate easy transactions of buying and selling Bitcoin. Safello whom have Roger Ver, Erik Vorhees (ShapeShift) and Nicolas Cary (crypto wallet Blockchain.com) amongst their investors. And Frank talked about the challenges that face companies that want to venture out in the crypto space.
With often unclear regulations and many added additional challenges that companies like Safello are faced compared to startups in the traditional finance space. These added challenges and problematic relationships with perhaps traditional financial institutions like banks have often stifled the crypto space from growing past the current state.
Similar issues were shared by Marco Poblete of Vinter Capital who mentioned the complexity of current law and finance systems. Which outside of the blockchain and cryptocurrency space could be at times overwhelming. Adding decentralisation and history of dubious transactional players to the mix, and it became clear that the challenges facing startups in this space were definitely not without their challenges.
One of the founders of 4IRE Labs, Max Semenchuk who is a co-founder of Dgov. A group/organisation that wants to facilitate the growth of decentralised organisations, foundations. For example, their end-users could be the foundations of blockchain startups that want to build successful decentralised foundations and decision-making processes.
The final speaker of the night was security consultant Niklas Volcz, Co-founder from Springflod. Who talked about where the priorities for startups should be. And even though he is a security consultant keen on promoting his and his company’s skills made it clear that startups shouldn’t over prioritise the security aspects when growing their startups. Even though they shouldn’t forsake them completely either.
Overall it was a fun night that showed the passion and interest that embodies this space. A combination of interest in interesting Fintech products, high risk – high rewards investment opportunities, cypherpunk and a decentralised ecosystem of smarter solutions.
Find out more about 4IRE labs and the event in Stockholm and future events and Meetups here https://4irelabs.com/defi-fintech-meetup-sthlm-wework
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier