2020 July, 6, 01:06:31 PM

Beam’s CEO Says: Everything Will Move To Confidential DeFi

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In the time of DeFi boom, how will Beam’s confidential DeFi stand different from others? Beam CEO Alexander Zaidelson spoke to Cointelegraph.
On June 29th, major privacy cryptocurrency Beam underwent a hard fork to enable "Confidential DeFi" on Beam. In the time of the DeFi boom, how will Beam's confidential DeFi be different from other DeFi such as COMP and MakerDao? Alexander Zaidelson, the CEO of Beam, spoke to Cointelegraph about its prospects.

The Beam hard fork activated the support of confidential assets, or Beam CA, which enabled independent tokens to be issued on the Beam blockchain. It is a key component of the confidential DeFi, benefitting from the confidentiality and scalability features of Beam.

Zaidelson explained that confidential DeFi is "an ecosystem for financial services that have full confidentiality, great usability and also opt-in auditability."

Zaidelson acknowledged the merit of other DeFi services like Compound and Maker as "solid financial instruments". Indeed he dismissed a comparison between the recent DeFi boom and the ICO boom in 2017, and described ICOs as "a flawed concept where people believed in invaded promises and lost their money.”

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