Adam Blumberg of Interaxis helps demystify DeFi (Decentralized Finance) in the episode of Bulls, Bears, and Bourbon. From crypto and blockchain to NFTs and Web3, Adam shares his thoughts on the current landscape and what the future might hold. Whether you’re new to crypto or a long-time HODLER, you’re sure to find something interesting in this jam-packed discussion.

[01:18] – Introducing Adam Blumberg

[02:45] – Japanese Whiskey (Hibiki Japanese Harmony) in honor of Satoshi Nakamoto

[13:50] – Why Crypto? – “it sort of came about because of some anger and frustration with the financial system and the idea was the banks failed us.”

[20:05] – Myth 1: Crypto is mostly used for illicit activities – “Bitcoin is the most traceable asset ever. You can follow it from step to step to step…if any criminal is utilizing bitcoin, they aren’t very good criminals.”

[23:50] – Myth 2: Crypto is easily hacked – “the bitcoin network itself has never been hacked, and that’s not because people aren’t trying. Some of the beauty of the bitcoin network is the time, and money, and expense it would take to actually try to hack the network you would be better of to use that power to mine bitcoin.”

[37:50] – Myth 3: Crypto is bad for the environment – “how much does the financial system use? All those buildings, and people, and checks going back and forth…Bitcoin is a minuscule percentage of what the financial system has to use to move.”

[53:50] – Smart Contracts – “they give us the ability to write the code to take on some of the functions that banks, and other investment companies and other financial intermediaries do.”

[56:15] – NFTs – “we’re building the infrastructure behind it…and NFT can represent your house, or your car…we can eliminate title. That makes a whole lot of sense to people”

[1:05:50] – Web3 – “I now have the control over that data and information that I put out there and therefore I can decide what happens with it. Part of that is I can monetize it if I want to. I can decide who gets to have access.”

[1:15:15] – What does wealth mean? – “I like experiences, wealth to me means I get to have those experiences that I want.”

[1:22:05] – What advice would you give a younger version of yourself? – “be more confident and invest in myself more when I thought I had a good idea for a product or service, and go for it.”

Links:

Interaxis Website: https://www.interaxis.io/

Certified Digital Asset Advisor: https://www.certifieddigital.org/

www.bullsbearsandbourbon.com

www.vermillionprivatewealth.com

**The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional before making a final decision. Thanks for listening.