Decentralized Lending: A Conversation With Celsius.Network’s Alex Mashinsky
The following is an interview we recently had with Alex Mashinsky, founder & CEO of Celsius.Network.
What's your background? How did you get involved in crypto/blockchain?
AM: I am a serial tech founder of three NYC based unicorns. I've been looking to create internet money since 2003 and when I saw Bitcoin I understood this was my calling.
What value does Celsius Network bring to users?
AM: Celsius flips on its head 700 years of banking practices where most of the spoils of being a large bank go to the shareholders and employees. Celsius delivers yield and income representing 80% of what we make to our depositors.
Where do you see Celsius Network five years from now?
AM: We hope to create financial solutions for over 100m users worldwide, Celsius is focused on helping all our users achieve financial independence and comfortable retirement.
What are the most common misconceptions you hear about decentralized lending?
AM: Since most people think lending can only be done by banks and large financial institutions they have a hard time understanding how it can be accomplished on the blockchain and why such lending can generate yield and loans to the users of the platform.
What’s next for decentralized lending in 2021?
AM: We see much broader adoption, we already service 350,000 users who entrusted us with over $5.3B in assets but as we all know most of the money is still held by Banks and financial advisors and earns less than 0.1% a year so the opportunity in 2021 is to help millions unbank themselves and create a financial future they control.