Alex Mashinsky is the creator of VOIP and now is now working on MOIP. To begin his presentation, Alex highlighted the centralized economy we live in currently. Banks control the monetary system, few tech companies control the internet, and governments control the rules. Alex makes the case for the world moving into a decentralized world as the world is heading in that direction. With 7 startups and $3 billion in exits, it may be smart to take what he says seriously.
With his new project Celsius Network, Alex and his team are bringing interest opportunities to the cryptocurrency industry. Through Celsius Network, users can deposit their crypto onto the Celsius app and earn interest. Celsius provides daily interest rates on their website. It is important to note there is no lockup period.
In addition, Celsius also offers lending services. Using your cryptocurrency as collateral, users can borrow fiat money while still keeping their crypto. Alex mentions this can be a smart approach for hodlers as they can borrow against their crypto to pay bills, keep their crypto, and defer any taxes if the prices in crypto rise since they’re not selling coins. The responsibility for the user to pay the payments on the loan.