Former Google scientist says DeFi is the ‘American dream’ for all

 Hossein Azari, Former Google scientist and CEO of DeFi platform Cmorq, has said the inclusivity feature of the decentralized finance sector equates to the ‘American dream’ for all.

Azari noted that the sector’s growth now targets to serve one billion people globally, and players in the sector are working towards unveiling the supporting technology.

“So we have a great economy. We have built over decades and if not centuries, so the next wave to really grow this, is to become more kind of build more inclusion and DeFi embodies that. So the decentralized finance is basically the American dream for all,” said Azari.

He said that with over a billion people, the DeFi industry will cater to most of the unbanked population. According to Azari, the sector can handle and manage the over $1 trillion paper cash held by people globally.

Azari notes that the DeFi sector’s main selling point is the ability to solve some of the shortcomings of the traditional banking system.

“And they would benefit firsthand from a platform that enables to do most of those things at low operational cost and significantly more secure way than they’re used to. We have 55 million people without bank accounts in the U.S., so it is not just an outside problem […] It’s going to be a more secure, and it’s going to be a better offering for us, because that’s what these people would want to lend that money to American consumer in American business at a much better rate than our banking system would do,” said Azari.

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