Why is decentralized finance advantageous? Let’s ask artificial intelligence. As you may recall from last week’s episode, ChatGPT is widely accessible to anyone right now.

Here’s the explanation on the value of decentralized finance from the ChatGPT software itself:

“Decentralized finance, or DeFi, is advantageous for several reasons:

Overall, these advantages make DeFi a compelling alternative to traditional finance, particularly for those who value accessibility, transparency, security, interoperability, and efficiency.”

Not bad for a robot, right? 

Here’s the thing. Decentralized finance is going to become mainstream finance in our lifetime. Large institutions are going to have to adjust or they will be irrelevant as the phone booth 20 years from now.

So we need to understand what it’s all about and figure out how we can capitalize on it. My guest on this week’s Wealth Formula Podcast will give us a human expert’s opinion on why.

Listen NOW!

Emmanuel Daniel is a global thought leader in the future of finance. He is listed as a top 10 global influencer in the “Fintech Power50” list for 2021 and 2022. He is also an entrepreneur, writer and a model train enthusiast.

Much of Emmanuel’s writing is based on his experience in founding and running his TAB Global research and consulting house since 1996. Through platforms such as The Asian Banker and Wealth and Society, Emmanuel has had extensive contact with leaders in banking and finance around the world. He won the Citibank Excellence in Business Journalism for Asia in 1999 for his work on the internet in banking. “The Asian Banker Summit” won the best finance conference from the Asian Conference and Summit Awards in 2012.

In his first book, “The Great Transition – the personalization of finance is here” published in September 2022, Emmanuel outlines how the banking industry will evolve from being focused on platform technologies to a level of personalization never seen before. He describes the roles of cryptocurrencies, blockchain, gaming and other technologies in this transition.

The book features forewords written by former congressman Barney Frank, the co-author of the Dodd-Frank Act set of legislations that regulate the financial services industry in the US today and Richard Sandor, an innovator widely regarded as the “father of financial futures”.

His writing is also based on his extensive travel to more than 100 countries, and he is intent on visiting all. He posts regularly on his travels and is working towards his second book which is tentatively entitled “The Winning Civlisation” and due for publication in 2014.

As an entrepreneur, he was previously a member of the Entrepreneurs Organization (EO), a prestigious grouping of young business owners worldwide. He has served or is serving in advisory or consulting roles for various public and private sector institutions at any time, and is a well regarded confidante in leadership circles.

He is a well-regarded global speaker on a variety of topics. But he prefers working on strategic assignments with selected clients. He is sometimes interviewed on BBC, Bloomberg and CNBC.

Emmanuel was trained as a lawyer, has degrees from the National University of Singapore and the University of London, and attended a course on economics at Columbia University in New York. He travels widely and divides his time between Singapore, Beijing and New York.

Shownotes: