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- In a recent interview with 1inch co-founder, he shared his thoughts on different topics, including web3 and investments.
- Kunz suggested that before investing in DeFi or crypto, one must read and gather knowledge about it.
Recently, Sergej Kunz, the co-founder of 1inch Network, discussed the limitations of investing for ordinary people, mass adoption, and the web3 entrance of big firms. Kunz gave an interview to Cointelegraph at Paris Blockchain Week 2023. According to its official Twitter account, Paris Blockchain Week is the most influential gathering of professionals in blockchain and Web3. 1inch Network is a Decentralized Finance (DeFi) protocol, while 1INCH is its governance and utility token.
1inch Co-Founder’s Interview Highlights
During the interview, Sergej Kunz discussed people’s interest in the web3 space. As he says, people usually put their money in a place where they have less chance of losing it and earn passively with their funds. Meanwhile, Kunz also explained the limitations of any average investor.
Kunz said, “Right now, you are very limited as a normal person. You are very limited in products where you can invest. […] Just for example, for my daughter, I was asking the local bank in Germany to provide some products, but they couldn’t even offer bonds.”
The co-founder also showed some frustration about the potential earning percentages for bonds. He said, “Right now, you get four to five percent for United States bonds, and they couldn’t even offer this.”
Kunz then discussed how people currently perceive the crypto space and what mass adoption seems like from his perspective. As he said, people only think of crypto as a place to trade digital assets, but this industry is quite vast to explore more things.
He explained, “We have a decentralized computer around the globe where you can deploy applications that can be used by everyone and right now in a permissionless manner.”
Moreover, he also explained what his team thinks about mass adoption. He said people’s understanding and education would be the key to achieving this. “As soon as we have people who understand the noncustodial way, this easy approach to interact with a lot of different services and also this easy way to pay for a coffee by scanning your QR code and paying with an Ethereum transaction. Then, we achieved mass adoption from our point of view,” he added.
In the end notes of the interview, Kunz advised newcomers in the DeFi space. He says, “Everyone new in this space, don’t trust anyone. If someone tries to sell you anything, don’t trust, verify.”
1INCH Price Analysis
On the daily chart, the current 1inch Network price is $0.508448 with a 24-hour trading volume of $29.34 million. 1 inch Network is down 0.53% in the last 24 hours. Meanwhile, 1INCH noted a 1-week low at $0.4979 and a high at $0.5815.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
