Placeholder Image

Subtitles section Play video

  • All right, let's get into part One.

  • Because I want to answer all questions and talk about what is defi That's the thing.

  • I want to answer for you, what is defi And I want to get into all of the details around what that means when it comes to what is defi Well, put simply defy gives financial freedom back to the people.

  • And also you might want to know what is the difference between cryptocurrencies and if I get this question all the time and I want to cover it today.

  • So let's get down to the basics because it's important that I talk about this and quite honestly, it's important that I repeat this stuff because it takes a while for this to really seep in to your core layer of your brain level and even down into your body because when you really understand these things, it will make more sense and you'll be better to invest those.

  • So decentralized finance or defy is quite simply this, it's a Blockchain based form of finance that doesn't rely on central financial intermediaries such as brokerages exchanges or banks to offer those traditional financial instruments.

  • And this is crucial Because I worked for these institutions for 15 years of my life.

  • I started off in 1993 and I worked for bankers trust in new york city until 1995.

  • Then I moved to Chicago and I worked for the first National bank of Chicago.

  • I ran their entire U.

  • S.

  • Treasury derivatives desk for two more years.

  • Then I moved to London and I was an inter dealer broker and credit derivatives.

  • I worked for Icap PLC for two years and later I moved back to London and work for another nine years for Icap PLC as well, where we pretty much led the market when it came to credit derivatives index swaps and we made a ton of money.

  • And one thing I know is this centralized financial institutions do not have your interests at stake.

  • They just don't.

  • Their job is to make a lot of money.

  • And we made a lot of money defy changes all of that because defy uses smart contracts on block chains, the most common right now being ethereum, but that could change where applications known as D apps or decentralized applications perform financial functions on digital ledgers called block chains that are public and open to everyone to see the transparency is so important here.

  • And this is a technology we first saw utilized by Bitcoin Back 12 years ago, but it's evolved much, much more since then.

  • And again, let me repeat this concept of an open Blockchain means that everything is public and everything is transparent, including the fees.

  • I cannot emphasize how important this is because the reason we made so much money on Wall Street and in the city of London and in Chicago is because we weren't transparent, we didn't give you all the information, you couldn't see the fees we were being charged.

  • That's how they make their money.

  • So when you make everything transparent, it means the traditional banking quote unquote business as usual, is going to be completely disrupted with the customer.

  • That's you and me and all the citizens around the world and the speed of innovation both being the big winners.

  • And let me repeat that the customer is the big winner and the speed of innovation is the big winner.

  • And right now it's estimated that the centralized finance sector, also known as C fi Is extracting over $9.1 trillion $9 trillion dollars a year is being pulled out from the global economy by centralized finance right now.

  • That's more money that is pulled out from the utility sector, the communications service sector and the real estate sector, which is massive.

  • Combined, that's how big it is if we can disrupt it, that $9 trillion can be routed to the places and that's just the tip of the iceberg, because the innovation probably brings another 10 X increase in the amount of money available.

  • And again, most of this draw is unseen from the public and that's $9 trillion just waiting to be disrupted and redistributed on a mass scale, which is where defy comes in.

  • And these incredible investment opportunities that I want to talk about today and I go into more detail inside the defi academy, which means basically this No more shady middlemen and yes, I'm talking about those bankers out there, those brokers, Alright.

  • And I used to be both of those people.

  • It means no more of you bankers ripping out these huge spreads because of a lack of transparency.

  • And again I did this for for 15 years.

  • I know the game.

  • It also means no more banks keeping their customers in the dark when it comes to dangerous risk exposure, Anybody remember the mortgage crisis of 2008, we all paid for that.

  • Why?

  • Because you didn't understand your risk exposure defy is going to change all this.

  • And it means no more bankers ripping off hard working people and citizens around the world from their savings, your mortgages, your car loans, your school loans, your investment portfolio, is your insurance contracts, your retirement accounts, your trust, your wills, everything that you would typically go to a financial institution for is now going to change with defi and the Blockchain, it's going to completely revolutionize the way we, as customers understand and interact with our money.

  • And let me say this because this is an important point.

  • The closer you get to really feeling touching understanding your finances, the more they will actually be a part of you right now.

  • Money is something that most people don't understand.

  • I don't get it.

  • My financial advisor takes care of that.

  • My bank takes care of that.

  • I've got an ira, I've got a four oh one K Who are you kidding?

  • You are losing so much money and you're out of touch with your money because of that.

  • Like so many of us are out of touch with our own bodies were out of touch with so many things in our lives.

  • I want to get you reintegrated to something that's so fundamental in almost every moment of your life.

  • Because every moment of your life is a transaction.

  • Why not own that and feel comfortable with that?

  • It's going to change what money means to you.

  • And I actually think that defy is going to make the world less money obsessed because it's easy to obsess about something when you actually don't know what it is.

  • And that's the biggest problem when I see people and when I talk to people that are coming inside my defy academy, they don't even know what it is.

  • They don't have a real relationship with money, so they're scared of it, they hoard it and they misunderstand it and we're going to change all that.

  • And that's why me and my team are going all in On this technology and infrastructure and we plan on spending the next 10 years teaching broadcasting, understanding, educating, investing in and profiting from this incredible new marketplace.

  • And I couldn't be more excited.

  • So that is my definition of defi.

  • And I'll be keeping to tell you this almost every single week, because I need to bring you up to speed with all the nuances here.

  • Mhm.

All right, let's get into part One.

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 defy financial sector finance blockchain centralized

What Is DeFi? ? - Back To Basics! "I Know The Game" - Brian Rose I DeFi Real - Episode 2

  • 0 0
    林宜悉 posted on 2021/06/05
Video vocabulary