SOL<\/a>) co-founder Anatoly Yakovenko is unveiling one of the most impactful innovations that\u2019s emanated from the crypto industry<\/p>\nIn a new interview with macro guru Raoul Pal, Yakovenko says that decentralized finance (DeFi) is possibly the best thing that came out of crypto.<\/p>\n
\u201cDeFi is the most important app for crypto. It is the biggest innovation I think that crypto brought to the world. It\u2019s the one that\u2019s the hardest for adoption because this is a software-eating part of finance that humans really, really do not want to give up control of.<\/i><\/p>\n
They like being the middleman and earning a free percentage point off somebody else\u2019s money. If software can do it for 10 times less than that, they don\u2019t like to give that up.<\/i><\/p>\n
But I think it\u2019s inevitable. There\u2019s just no way that within you know 20 years, whatever, 50 years, that all this stuff isn\u2019t running in software with decentralized applications (DApps).\u201d<\/i><\/p>\n
On the impact that DeFi is likely to have on the traditional finance giants such as Goldman Sachs and BlackRock, Yakovenko says,<\/p>\n
\u201cIf this is a true disruption, it means it should compress their profits. This is what disruption brings.\u201d<\/i><\/p>\n
According to Yakovenko, some of Solana\u2019s DeFi-focused projects are now growing after initial struggles.<\/p>\n
\u201cWe thought Solana was perfect for DeFi when we were designing it, really building in this idea that cheaper, faster for finance is always better. And it\u2019s been a struggle to get adoption there, especially after the FTX [exchange] collapse.<\/i><\/p>\n
But there were really, really strong teams like Margin, like Solend, like Jito Labs, Pyth, Jupiter Aggregator\u2026 all these guys that just kept building through the bear market, through all the black swan events and are now like I think at that next stage of maturity to where they\u2019re really hitting growth mode.\u201d<\/i><\/p>\n