Wuzhen·JRR Dimitar Dinev: DeFi is more than just MakerDAO, more open finance

On November 8th, the “2019 World Blockchain Conference·Wuzhen” hosted by Babbitt was officially opened. The conference gathered more than 100 global blockchains, digital assets, AI, 5G experts and scholars, and technical geeks. Opinion leaders and founders of popular projects, with the theme of “application unbounded”, explored the application of blockchain, technology frontiers, industry trends and hot issues, and promoted blockchain technology and industrial innovation.

On the afternoon of November 9, in the "Digital Asset Trading Opportunities and Challenges" theme forum, a discussion was held entitled "Steering the Digital Blue Ocean Market and Logic of Investment in Pulses". DiRir Dinev, General Manager of JRR, shared the JRR investment experience in the roundtable discussion.

Dimitar said that DeFi in the eyes of JRR is more open finance. The underlying protocols are completely transparent and auditable, and there are many financial providers based on this agreement, and people do not need to trust or verify their money management.

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The round table was hosted by Ren Biao of Babbitt International Station. The following content was compiled and released by Babbitt:

Ren Biao: First of all, please do a brief self-introduction.

Dimitar Dinev: Hello everyone, I am Dimitar Dinev, general manager of JRR. JRR has been investing in the blockchain since 2016. Prior to this, we allowed the four companies to go public from scratch. We have three entities for the blockchain sector, namely incubators, investment funds and consulting departments.

Ren Wei: JRR has invested in many projects in the blockchain field. You are also an early investor in the currency security. Can you share the criteria for evaluating blockchain projects?

Dimitar Dinev: JRR has a clear investment philosophy. When we invest in applications, we will consider that it will become a bridge between the underlying protocol and the average user. Therefore, we believe that when a person sends an email, he does not need to connect to the mail protocol himself, but to use the services of companies such as Yahoo and Gmail. The process of learning the blockchain at this stage is very complicated, so there are still many gaps, and many companies can create innovative experiences for users and establish connections with protocols. The blockchain can bring auditability and transparency, proving that a company will not maliciously use your data. I have different opinions on the idea that blockchains are trusted. Because at this stage almost all companies are fighting for trust, they want users to believe in them, whether it is Facebook or Apple, they are always discussing trust, which is the energy that the blockchain can produce.

Ren Wei: Now defoaming finance (DeFi) is very hot. Many people say that it can completely subvert the existing traditional financial system. What do you think of DeFi?

Dimitar Dinev: Most people think of DeFi. The first thing that comes to mind is MakerDAO and its mortgage debt warehouse, which is essentially a problem of inefficient capital. We believe this is not an architecture that can help blockchain penetration. DeFi in our eyes is more open finance. The underlying protocols are completely transparent and auditable, and there are many financial providers based on this agreement, and people do not need to trust or verify their money management. DeFi protocols and stable coins, as well as applications built on such protocols, can make DeFi a driving force for blockchain adoption.

Ren Biao: In the end, the blockchain and digital currency are still at a very early stage, and investment is also very risky. How do you avoid or reduce these risks?

Dimitar Dinev: We have made more than 40 investments in the primary market, all of which are equity investments. Blockchain technology is very complex and very new. At least for us, we will ensure that our interests and project benefits are consistent when investing. We always insist on investing in equity. We have experts from traditional markets and experience in handling user applications, so we are confident that as long as the interests are the same, the projects we invest in will have a greater chance of success.

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