Beyond DeFi

We would like to express our gratitude to Polkadot for providing us with the opportunity to participate in this event. It is truly an honour for us to be a part of it. We would like to present a brief summary of our showcase during the event. Please find the details below:👇

In this video, Sam discusses the challenges of adoption in the Web3 ecosystem, particularly in relation to DeFi. He says that DeFi has not been successful in gaining widespread adoption due to regulatory concerns and the failure to provide a compelling reason for people to use it.  Sam emphasises the importance of trust in blockchain technology and suggests that countries where trust is lacking could benefit from DeFi adoption.

Sam then outlines four key aspects to address in order to promote adoption. First, he highlights the need to understand and acknowledge the reasons for the current struggles in adoption. Second, he discusses why Polkadot, a blockchain platform, is a suitable choice for addressing these challenges, particularly due to its well-defined best practices and multiple environments for testing and development.

Next, Sam introduces "Imbue," a decentralised freelance marketplace, as an example of how Web3 can provide value and opportunity to individuals in regions with limited access to traditional financial systems. Imbue aims to connect clients with qualified freelancers and ensure the quality of work through a milestone-based vetting process. Sam emphasises the importance of accountability and integrity in the Web3 ecosystem, proposing a grant system that enables validation and refunding of funds if milestones are not met.

‍Overall, Sam advocates for providing clear reasons and value propositions for individuals to adopt Web3 technologies and highlights the potential of blockchain-based solutions to address issues of trust, accountability, and access to opportunities.📹 We kindly invite you to watch for further details: Beyond Defi: The road to Web3 adoption | Polkadot Decoded 2023

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‍With love,

Imbue Team 💎