The DeFi Download

Blockchain.com: building the amazon.com of crypto.

January 06, 2023 Radix DLT
The DeFi Download
Blockchain.com: building the amazon.com of crypto.
Show Notes

In this week's episode of the DeFi Download, Piers Ridyard talks with Lane Kasselman, the president of Blockchain.com. They talk about Lane's experiences leading a rapidly expanding multi-services platform, the reasoning behind Blockchain.com's focus on user-friendliness, and the differences in cryptocurrency adoption across the world.
Chapters
00:00 - Intro
[01:15] Lane Kasselman as President of Blockchain.com and the company's growth under his direction
[01:56] How does Lane describe Blockchain.com and who its ideal user is?
[05:20] What was unique about the DNA of Blockchain.com, and what did it do differently to remain in the space when many other wallet companies have vanished? 
[08:05] Are exchange products and institutional products on Blockchain.com custodial? What was the internal narrative behind the company’s current offering of easier-to-use services for consumers and businesses, given the early decentralisation maximalism basis of "not your keys, not your crypto" that drove the company's early success?
[10:35] Numerous markets in regions with troubled financial systems have adopted cryptocurrencies as a replacement for their failing monetary structures. What factors contribute to its relative lack of popularity in the Western world?
[11:45] As a result of lagging behind in digitalising its banking system, Europe is now at the forefront of fintech, which will likely slow the widespread adoption of cryptocurrencies. China's slow adoption of cryptocurrency is a result of the country's widespread use of QR-code-based payment systems. By contrast, people in parts of Africa and South America are turning to cryptocurrency because of the region's inadequate banking infrastructure.
[14:59] Neobanks were instrumental in laying the groundwork for new technology finance.
[17:20] Most people would rather play it safe with their money than take any chances with it. However, the crypto community tends to attract those with a high-risk tolerance.
[18:28] A challenge to the Blockchain.com model: Because decentralised finance is still in its early stages, we have tended to provide a safe-feeling consumer experience, such as Blockchain.com's customer support. MetaMask and Uniswap, on the other hand, provide no such help. Will there ever come a time when users are knowledgeable and comfortable enough with decentralised platforms to abandon centralised ones?
[24:22] Will Blockchain.com's super wallet strategy additionally include providing users with an intuitive interface for accessing services like Aave, SushiSwap, and Uniswap?
[26:14] The entire consumer model is all about value-add and an appealing interface, both of which crypto lacks. Another hot topic is regulation. Where does regulation fit into the development of better interfaces for services built on top of public ledgers that provide yield, liquidity opportunities, borrowing and lending, and are packaged into consumer-friendly products?
[29:25] Reasons why the American government and regulators cannot make cryptocurrency illegal
[33:49] One of the most serious issues in the regulatory sphere right now is the delay in thinking. The majority of regulatory enforcement actions have focused on obvious scams. Demonstrating the value of the cryptocurrency industry has become more urgent and necessary.
[39:41] Where to follow Blockchain.com

Further resources
Website: blockchain.com 
Twitter: @blockchain 
Lane Kasselman’s Twitter: @kasselman  
Peter Smith’s (CEO) Twitter: @OneMorePeter

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