•1inch Network co-founder Sergej Kunz spoke with Cointelegraph at Paris Blockchain Week 2023 about the limitations of investing for ordinary people, what mass adoption looks like, and big companies entering the Web3 space.
•Kunz noted that average investors are limited in products where they can invest and expressed frustration about the potential earnings from bonds.
•He believes that mass adoption will come when people understand the noncustodial way of doing things.
Limitations for Average Investors
Sergej Kunz, the co-founder of decentralized finance (DeFi) protocol 1inch Network, sat down with Cointelegraph reporter Joseph Hall at Paris Blockchain Week 2023 to discuss various topics related to investing in the Web3 space. According to Kunz, average investors are very limited in terms of products where they can invest. He noted that even his local bank in Germany could not offer any bonds with a decent return rate. Kunz expressed frustration about this situation, citing potential earnings percentages of only four or five percent for United States bonds.
Mass Adoption of Cryptocurrency
Kunz and Hall also discussed how people currently perceive cryptocurrency and what mass adoption looks like from Kunz’s perspective. The 1inch executive said that people often think of cryptocurrency as just a place to buy and sell digital assets, but there is much more than that within the space – including decentralized applications that anyone can use without permission from anyone else. As far as mass adoption goes, Kunz believes it will happen when people understand the noncustodial way of doing things in crypto.
Big Companies Entering Web3 Space
The duo also talked about big companies jumping into Web3 technology and how this could affect its development going forward. According to Kunz, this trend is encouraging because it brings more resources and money into the industry which will help spur innovation faster than ever before. He also suggested that these large players should focus on solving real-world problems using blockchain technology so that it can be widely adopted by everyday users around the world.
Crypto Newbies: ‘Don’t Trust Anyone’
Before wrapping up their discussion, Kunz offered some advice for new crypto users – “don’t trust anyone, verify.” He noted that verifying information is essential when dealing with digital assets since many scams have occurred due to trusting someone without validating their claims first. Furthermore, he emphasized how important it is for everyone to stay informed on current developments within the crypto space so they don’t fall victim to malicious actors or outdated systems/protocols.
Conclusion
In conclusion, Sergej Kunz’s interview highlights some key points regarding investing in cryptocurrency as an ordinary person; limitations exist for those who want secure investments but also good returns on their funds; furthermore, he believes mass adoption will come when people understand how noncustodial transactions work; finally big companies entering Web3 technology bring resources which spur innovation faster than ever before — all while he reminds newcomers not to trust anyone without verifying information first!