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Innovation is exciting! And all of us have witnessed new technology entering every major industry, none more so that the traditional financial industry.

When was the last time you even went into a bank? Financial transactions such as accessing money, depositing checks or even buying stocks, can all be done  on an app remotely at anytime and anyplace! But in spite of all the technological progress, we still have to trust the banks as our middlemen to every single transaction we make.

However, with the advent of “cryptocurrencies” and the “Blockchain”, many new technologies are being built, including the emergence of Decentralized Finance or “DeFi”.

DeFi seeks to get rid of the middleman completely. A big unlock here is the automation of tasks that traditionally require a third-party intermediary. For example, instead of needing a bank to approve a fund transfer from client to freelancer, the process can happen automatically, thanks to sophisticated code/programs called “smart contracts” to mimic the services in the financial industry!

Although decentralized finance is only 5% of the crypto market, it is the fastest growing space within crypto and our guest today, Hossein Azari, Founder & CEO of DEFI company CMORQ, breaks it all down for us at Things Have Changed.

Hossein has an incredible rap sheet, a Doctorate in Computer Science from Harvard University, an MBA from Columbia University and in addition to this, he sold his first financial company, Clarity Money, a personal finance company, for $100 Million to Goldman Sachs!
 
So it begs the question.. what is he doing building in crypto?

In Part 1 of our incredibly fun chat with Hossein, we explore:

• What’s specifically wrong with traditional finance, that Hossein is aiming to fix?
• How Crypto and DeFi can balance the scales by helping the Middle & Lower class join the Money Class

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