Here is the New Interview of Kaspars Koskins, CEO of ADALend!

Welcome to the second part of the series of interviews with ADALend CEO Kaspars Koskins. Recent events in the US and Canada show that decentralized finance (DeFi) is more important than ever. ADALend is at the forefront of this revolution in the lending industry by using Blockchain technology to eliminate traditional middlemen – providing unprecedented access to credit for those overlooked by the traditional banking system and high returns for investors in a persistent low interest rate environment. Also, as we see dramatic access from the SEC and the Canadian government in the US, DeFi platforms have become more important than ever to protect the wealth of ordinary citizens. Here is the interview of Kaspars Koskins, CEO of ADALend presenting this…

Here is the second part of the ADALend CEO’s interview…

In a recent interview with Koskins, the value ADALend provides for the middle classes and emerging markets in the western world was discussed in depth. Can you summarize the ADALend value proposition for those who missed it?

Of course, let me first say that it’s great to be here. The passionate ADALend community loved our recent interview, and we touched on many of the topics that spoke to them, attracting many like-minded people to join us. Today we will delve further philosophically into why Cardano and decentralized financial systems are more important than ever and how recent events in the US, Canada and even Russia have highlighted this. However, let me first summarize the ADALend vision and mission.

At ADALend, we develop a scalable, reliable and decentralized lending protocol that protects its users in a self-governing environment. From our initial inception, we have committed to developing the Cardano Blockchain locally, which will enable the lending platform to assemble protocols that support business models that provide economic support to billions of users. ADALend will restore the balance of power between lenders and borrowers. By allowing digital assets to be used as collateral, the use of the platform will be diversified for the benefit of the user.

We chose to develop the Cardano Blockchain as Ethereum is no longer available to the majority of people in the space due to high transaction costs and gas fees that can reach hundreds of dollars per transaction. Transaction fees in ETH are unacceptable to ordinary people in today’s western world as well as millions of unbanked people who lend and borrow much smaller amounts in developing countries of Africa and Asia. While new platforms like Solana and Avalanche have problems with centralization, security and reliability, Ethereum is now only available to the already wealthy. Cardano is the only truly decentralized Blockchain with the necessary security, speed and low transaction fees to provide a truly democratic financial solution that can be used by every person in the world.

As I mentioned in our last interview – ADALend’s vision aligns perfectly with that of Cardano founder Charles Hoskinson, who is passionate about improving financial outcomes for people around the world, regardless of race, nationality, gender or financial status.

What is the relationship between government moves and ADALend?

We were talking about the SEC fine that came to BlockFi and the actions taken by the Canadian government against its protests for COVID-19 measures. Can you share more about what these events have in common and how they relate to the ADALend mission?

Certainly, in the past weeks we have seen the SEC fine BlockFi $100 million for providing a good interest rate to its users; Canadian Prime Minister Justin Trudeau has taken the unprecedented step of initiating the Emergency Act, under which protesters can freeze their financial accounts to thwart anti-vaccine protests. Western leaders are threatening to kick Russia out of the SWIFT banking system if they invade Ukraine. They now highlight how governments and institutions, whatever your political view on these events, can prevent ordinary people from earning interest on their savings, accessing their savings or transferring money internationally, at their own convenience. I am old enough to remember that in 2013 the Cypriot government decided to unilaterally impose a 10 percent “cut” on their bank accounts to save themselves after the financial crises, and literally illegally stole money from people’s accounts. This was my moment of transformation and we needed to protect individuals from governments that overdone their hard-earned wealth, and I started with Bitcoin first, then Cardano, and finally the desire to build a truly decentralized financial system.

On a DeFi platform like ADAlend, people can earn a good interest rate on their hard-earned savings by not worrying about things like a service like BlockFi being targeted by regulators or the government trying to freeze their bank account. DeFi systems are by definition more robust and fragile than centralized companies like BlockFi. The ADAlend protocol and network is closer to Bitcoin or Cardano where it will become more resistant to attack as the network scales.

In line with the fully decentralized ADALend protocol and core platform, we are exploring providing regulated centralized credit services in each jurisdiction in which we operate. These will offer slightly lower interest rates and returns than the ADALend decentralized staking and liquidity delivery platform, but still much higher than any bank or credit union. This is because we understand that while our community members in the crypto space are comfortable spending time and energy interacting with DeFi protocols, we also have mature users who are short on time, such as business owners, doctors, lawyers, and self-employed tradesmen.

For these working people, we will provide high interest rates on stablecoin and crypto savings in a highly regulated environment. We work with regulators on a jurisdictional basis – in the European Union we start with Estonia, then move on to the United Arab Emirates International Financial Center (DIFC) with a regulated entity in London and then the United Kingdom with Headquarters in London. The next countries on the roadmap will be the USA and Canada, so we are watching and learning from the experiences of BlockFi, Nexo Celsius and others as we plan our market entry. We believe that to truly reinstitutionalize finance you need to disrupt the system inside and out, and that is why we have adopted a two-pronged strategy to launch a DeFi protocol and a CeFi business in parallel globally.

ADALend’s team and work is getting stronger

Thank you Koskins, it’s extremely exciting to hear how your mission has evolved over time and how government action has made the ADALend value proposition more attractive and necessary. To move onto the tactical realm from a philosophical and strategic point of view, let’s talk about how you and your team carried out this task in the trenches. How is commercial and technical work progressing?

Thank you for your kind words, yes, it’s both exciting and scary to see how macro events in the news make the ADALend mission more vital every time we talk about it. It really strengthens our determination and motivates the team to choose a goal worth focusing on. Our goal is to provide financial inclusion, security and wealth protection for savers and investors of all sizes. On the technical side, we’ve strengthened our development team with a new CTO, Ali Krynitsky, who brings with him years of operational experience leading Enterprise and Consumer Software Development and Technology projects, along with a loyal, experienced and hard-working team of developers.

Interestingly, Ali has a very strong research and academic background, which makes Cardano well suited for research and peer-reviewed research. Swarm is a true technical genius who has worked on super interesting technologies like networking, so the ADALend team and community are blessed to have him join our team. With Ali, who was born in the former Soviet Union, we see how today’s macroeconomic and political events accelerate the importance and relevance of ADALend. Ali understands very well the dangers of government outstripping people’s ability to win and protect their own rights.

While working on the UX and UI, Ali and his team are working around the clock to leverage the latest research and exchanges from IOHK and other Cardano knowledge repositories to inform development roadmaps for the Plutus and Haskell powered staking and lending platform backend. We have found that one of the barriers to mass adoption of DeFi protocols with the latest consumer applications we expect and demand in the current environment is the poor frontend user experience that scares ordinary users. On the business development and commercial side, we are busy building relationships with regulators in Europe, the UK and Dubai to ensure we don’t hit obstacles like BlockFi has done along the way. Obviously, another area we are seriously focusing on is our IDO launch in early March, where the ADAL token will be made available to the public.

It seems that interesting developments are taking place on the commercial side as well! Can you tell us more about the ADAL token launch and how our readers can learn more?

Absolutely – in the crypto world an IPO, or IDO, is similar to an IPO of a tech company. Since ADALend is currently in the final stages of its private sale, it’s akin to buying Google, Amazon or Apple shares prior to their IPO. The ADALend special sale will end on February 28th, which will be the deadline to purchase ADAL tokens at a significant discount. The launch will be in the first week of March and a limited number of ADAL tokens will be sold on several launchpads in parallel, trading on exchanges shortly thereafter. The starting price is $1, but as you know the token price can perform dynamically in the early days of trading, so it’s crucial to buy your interest early to avoid disappointment.

Your readers to learn more about the ADALend mission and show interest in the final allocation of discount special sale tokens [email protected] If he sends an e-mail to his e-mail address with the subject “CEO INTERVIEW”, our team will add it to the priority list and respond as soon as possible.

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