The Future of Web3 with Laszlo Szabo from Kiln Finance
In this episode, we delve into the world of decentralized finance (DeFi) and blockchain technology with Laszlo Szabo from Kiln Finance. This conversation uncovers the innovative solutions Kiln is bringing to the table and the future potential of Web3.
Journey into Web3
Laszlo Szabo’s journey into Web3 began in an unexpected place: hospitality in Hong Kong. A chance encounter with Adam Treadman, CEO of BRD Wallet, introduced him to Bitcoin in 2014. This meeting sparked his interest in blockchain technology, leading him to dive deeper into the decentralized world. By 2016, he realized the immense potential of blockchain, and his journey into the realm of crypto began.
What is Kiln Finance?
Kiln Finance is a company focused on democratizing value creation in Web3. Their primary goal is to replace traditional finance with digital assets, sharing value generated at the edges of the network. Kiln started with staking and has expanded into various DeFi yields. They work with partners like exchanges, custodians, and wallets, helping them provide rewards to their users.
How Kiln Works
Kiln Finance collaborates with crypto platforms such as exchanges, custodians, and wallets. They provide the infrastructure for these platforms to offer staking and other DeFi yields to their users. Kiln operates as a validator, ensuring transactions are validated, and rewards are distributed. They also run APIs, allowing platforms to use different node operators if needed. Kiln supports 20 different protocols, enabling users to stake a wide range of assets.
Innovative Solutions and Products
Kiln is launching new products to provide yield on stablecoins and Bitcoin. For stablecoins, the yield will come from lending and borrowing protocols. For Bitcoin, they are exploring Bitcoin staking, where staked BTC can secure other networks, providing users with rewards.
Challenges in the Web3 Space
Building a company in the Web3 space comes with unique challenges:
- Education: Many people still confuse staking with lending and borrowing in DeFi. Educating users about these differences is crucial.
- Regulation: Navigating the gray areas of regulation requires proactive communication with regulators.
- Security: Ensuring the security of digital assets and preventing hacks and scams is a top priority.
The Exciting Future of Web3
Laszlo is optimistic about the future of Web3. He envisions a world where everyone uses digital assets daily, with seamless wallet integration and near-zero transaction costs. Account abstraction technology will make using wallets easier and more secure, allowing broader adoption even among non-tech-savvy users.
Closing Thoughts
The future of Web3 is bright and full of potential. As blockchain technology continues to evolve, companies like Kiln Finance are at the forefront, driving innovation and making decentralized finance accessible to all. Stay tuned for more exciting developments in the world of Web3!
Connect with Us
You can connect with me, Sam Kamani, on social media or reach out directly. My DMs are open, and I’m always eager to engage with fellow innovators.
This episode covered the exciting development in the world of Web3. You can listen to it here .
Stay tuned for more episodes where we dive into the world of Web3. Thank you for your support and best of luck in building your startups and projects.
