The chief executive officer of Ark invest shared his stance on the Defi industry and claimed that it is a revolutionary phase of Financial systems and also it is creating a big competition among traditional financial systems.
Arks Invest is a Florida-based Investment Management LLC and American investment management firm. Currently, $23.3 billion worth of funds is under its management. At present, Ark Invest holds the first rank in terms of the highest numbers of holding Grayscale’s Ethereum trust, according to 13F filings. So Ark invest has indirect involvement & investment in the crypto sector.
Catherine Wood, Founder and CEO at ARK Investment Management, appeared in an interview before March with former professor distinguished American economist Dr. Arthur Laffer in the University of Miami Herbert Business School. The interview video was published on the YouTube channel on 1 March.
When the professor asked Cathie about her point of view on this evolving industry then Cathie mentioned three facts on which Ark invest does research, namely money revolution (cryptocurrencies), financial revolution (DeFi), and the internet revolution (metaverse).
On the financial revolution, Cathie said that Defi eliminated the middleman with its concept.
“The financial revolution is Defi and just taking all the middleman out of the financial ecosystem… a real threat to all of us.”
Cathie also claimed that such innovations are going to put a big threat on the traditional financial system with the combination of digital wallets and Defi platforms.
“I mean, we know that the combination of digital wallets and Defi is going to hollow out a lot of financial institutions.”
She also noticed that rewards/loans through lending from Defi protocols at low cost are much better over traditional, so these are doing something much better in terms of adoption of this industry over traditional.
“lending and saving are taking place on Defi because of lower loan rates and higher saving rates.”
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