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Bringing the Divide b/t TradFi and DeFi w/ @ZivoeFinance
Recorded: Nov. 7, 2023 Duration: 1:00:30Space Recording
Full Transcription
Yeah, I mean, let's...
We could get it started whenever.
I'd give it another minute or so.
I'd let some people filter in.
It's actually starting to echo a little bit.
Yeah, I think the echo should be fixed now.
Yeah, I think the echo should be fixed now.
Yeah, you don't want to echo a little bit.
Yeah, you don't want to echo a little bit.
Yeah, you don't want to have the echo.
It's still echoing just a slight bit.
Sorry, I don't want to echo the echo.
So, yeah, I think the echo should be fixed here.
So, yeah, I think the echo should be fixed.
Yeah, yeah.
So, yeah, I think the echo should be fixed.
surprise $50 giveaway and since
there's not many people in here your odds are
pretty good but in order
to be qualified
would appreciate and I usually never ask
but this is more for the algorithm for the
after people that listen to the recordings
because I do get quite a few regardless of how
many people show up live but just give a little
quick little like and a retweet
whenever you get a chance and that'll help so
people can hear the space and
hear what we have to say today so
appreciate it much love that's all I ask
alright I just want to test this one more time
the echo gone away
let me see
yeah I don't hear myself now
I was speaking I was going to get starstruck
I was just like I hear myself like I'm having a conversation
with myself it's the worst like I
I'm on calls all day
essentially for a living and then
whenever the other person on the other end
has bad audio and it's like
repeating back to myself I'm like look I'm going to call
you back I can't though
yeah I know it's the worst
do they let you
join off of desktops now
I believe so you know it's funny
as I've never tried it out
I was going to do it one time
as not as the host
though because I don't want to
I'd be too scared to rub this
rub this space
but as a speaker I mean
there's no nothing that's going to go
wrong I mean worst case scenario you just
disconnect and come back in but
because I feel like like I at least for my
my desktop I have a
a mic that's pretty nice but
like I'm you know normally join these off
my my phone I'm just using like headphones
and I don't I've got like you know
little cheapo headphones so
well no it's crazy because like I have like a
studio setup I've never the only time I
actually use it is when I'm hopping on calls
with teams and people I don't do it for Twitter
space basically my phone
is the only this is the only time I really use
my phone at all is for Twitter space but
if it is working and
and the desktop is all up and
running here and it's smooth and that's what
I'm going to start using soon soon so I
could kind of just chill out and have to
hold a phone next to my mouth the whole
time so but anyways let's get it
started appreciate everyone shout out
to 21 I see you I haven't talked to you
in a long time appreciate you brother
but um no so just a quick little
intro um on yourself I always like to
ask like a little intro what you did
before crypto why did you even get into
crypto when did you get into crypto
and then why what why are you doing what
you're doing now so that's that's how
we'll get it going for sure so I have been
in crypto now since oh gosh probably about
2017 so when we had the big spike uh
then you know I kind of got into the space
as a user and investor and you know
after being in the space for a while and
learning more and more about it I kind of
transitioned into working in the space
now prior to crypto I spent a little bit
of time uh in investment banking before
zyvo so that's kind of just a high level
on you know my background in terms of
that and then you know maybe just a high
level a little bit about you know zyvo and
what we're doing zyvo is a credit
protocol focused on disrupting predatory
high interest consumer lending and you
know many people aren't familiar with
this but in the u.s in many countries
around the world there is a huge problem
in our eyes with uh people who are
receiving loans at what are essentially
egregious interest rates you know they're
in excess of 100 percent and these trap
people in cycles of debt and we don't feel
like this should exist and in a way this
for us is the perfect blockchain use case
you know defy in my eyes has always been
about democratizing the financial system
and improving it for people who have been
traditionally underserved by our you know
legacy financial system and that's really
what we're trying to do
yeah I mean that completely makes sense I
mean a lot of people including myself got
into this space from some sort of financial
background mine is in accounting and I've
been in accounting I don't know man it's
been like over 10 years now yeah usually 10
years 15 years I'm getting old so anyways
no like I've been around and I deal with
like all realms of financial wherewithal
whether it's like poverty line below poverty
line low middle class middle class upper
middle class you know wealthy extreme
elites billionaires and you know the common
denominator between all of them for the
most part is most people don't care too
much about the financial aspect they are or
they're just uneducated sadly about it and
even the you know the wealthy people or elite
people extremely wealthy people they're living
paycheck to paycheck because they're spending
more you know as much as they're bringing in
and if anything hits the fan or you know
like they're you know they don't have as
much wiggle room they might have more
because they own assets and they can sell
assets but yeah I mean and then just like
what you're talking about the predatorial
loans right it's like the most common thing
and I was actually a part of this was you
get out of you get out of high school you
go to university or college and you just
have they're just like hyenas like these
credit card companies right they're just
throwing these credit card applications in your
face they they know you're young and dumb and
you're gonna blow it on whatever right
partying or just stuff that you don't need
and and you're not really working probably
because you're either in college or whatever
you got going on or you're working but you're
just paying off you're paying the minimums
right and you can just get smack with these
high interest rates it's impossible to have
you know it's it's really it's sad I don't
know necessarily how other nations work but
more so in America I'm really familiarized with
it because I do this for a living
outside of this space is people just have no
clue about how money works how taxes work
how loans work how the credit score system
works like none none of it and it's like
you're setting yourself up for complete
disaster and failure and it's really it's
really sad right and one of the reasons I
got into this space is because I always
visualize a blockchain as as nothing more
than a decentralized accounting ledger that has
perfect numbers in it and then you could like
build cool applications on top of it with
whatever you're going for whatever sort of
niche you're going for technology but the
numbers are there and there's transparency
there's accountability and all that type of
stuff and then you also have more rights you
know you have more freedom you have more access and
exposure and then whenever someone's tapping into
that but also bringing that into like the
trad fi slash old world may have you or the
legacy world I'm always appreciative of it
because as cool as crypto is and as awesome as it
is and you know I haven't been in here since
2017 but I've been in here you know basically
since the virus started it back back in March
of what is it 2020 now or whatever it is I've
been here since but no it's like we need we need
this right like most most humans on planet earth
have access to a smartphone so they're kind of
in the in the game now as opposed to in the past
where you were so reliant on you know either being in
a developed nation or having you know well yeah
developed nation right like most people had crappy
currencies and inflation and there's just no other
options but now there is with with because you have a
smartphone you can buy crypto so that's my long rant
no and I think I would I would agree with you on a ton
of that I think at the end of the day for for me you know
what really got me interested in this space is you know
blockchains are as not a perfect a system as we're ever
going to get to handle things and I think you know in the
US and you're kind of talking about credit cards or you
know university loans is the the crazy statistic is in the
United States is half the country cannot afford a thousand
dollar emergency and you know a lot of times what people
end up doing is they either end up relying let's say credit
cards or friends or family or other you know alternative
sources of financing and for a segment of the population
unfortunately their only option a lot of times are you know
predatory high interest consumer lenders and so you know
these lenders literally charge people interest rates in
excess of 100% APR and alone and we're all in you know kind
of the crypto space and you know maybe a little degen
sometimes but I think we can all agree that no one should be
getting a loan an interest rate in the triple digits but it
happens all the time and an example is you know for instance a
woman named Kimberly Richardson who had a Bloomberg feature
written about her actually and if you go Google like high interest
funding stories you'll find a whole bunch of stuff about not only her but
other people that have dealt with this issue but you know this woman
borrowed $2,500 and at a almost 300% APR and repaid over $7,000 in
interest in fees alone not counting principal over the course of two
years and you know the thing for us that is really incredible is you
know this woman lost or lost hours during the coronavirus pandemic and had
her income heavily impacted but she actually prioritized trying to repay
this loan back because most people try to do the right thing and repay their
loans I think the problem is though is that most people do not have the right
option and so that's really what we're looking to do where we're looking to
support companies right now at this point in time that are offering more
affordable credit solutions to consumers
no I mean that's I like I said earlier man like I got in this space because I
always visualize cryptos essentially like speed running like thousands of years of
inequalities with the financial aspect and and everyone in the world is but more
so in America again like I'm gonna be I'm not gonna say I know everything about
other other other nations but I am real familiarized with like the ins and outs of
everything when it comes to like the economy the governments what's going on how
things operate from from all kind of all kind of sides and I do realize that most
people get distracted I don't know if it's by accident or by choice or whatever of
the real issues and until you can fix the monetary system with like what you're just
discussing then nothing else really matters because that you it all comes down to
having more rights more freedoms not getting like like you're saying like I I
just visualize it as just like hyenas or in the here in the wild and hyenas are
coming after you with with these sort of you know loans and just ruining your
credit room just getting off to a bad start so anyways I'm gonna hop into like what you
guys like what you're doing like for example like how how are you mitigating that you
know if I was someone that once alone and like what's the process there so maybe let
me just give kind of a high-level rundown of how our protocol works so initially what
we're doing in order to improve access to more affordable credit is we are working with
fintechs or existing consumer lenders that lend in beyond and providing them with capital in
order to actually fund consumer loans and we source that capital from liquidity providers
who can deposit stable coins in our protocol and earn yield on the stable coins and that
yield comes from actually the underlying consumer loans that are being made by the fintechs we are
partnering with so you can almost think about it to begin with as a b2b to c model we provide
capital to a business who then lends to consumers now what we're looking to do over time is we want
to actually get direct exposure to the consumer in order to increase the yield our protocol is able to
generate and offer additional savings to the end consumer so the end consumer do they have to know
how to use crypto no so that is part of why we're taking the the kind of route we have in terms of
partnering with more traditional fintechs and providing them with financing I think the thing is
right now in this space as a whole is you know we have a problem in that and it's getting better
and better with this like account of traction and some of the other technology that's coming out like
there are some really incredible projects right now uh for instance you know one that I kind of
heard about the other day called sling money and for instance being cash that are doing some
you know really incredible stuff when it comes to being able to transfer money
essentially across the world using blockchain rails without actually having the user know that they
are using blockchain it's just you know a normal app that you know you would use for any other kind
of financial service for instance like your bank uh and it's just running on blockchain rails and so
that is where you know I think the space has to get but we're not quite there yet for everything and so
we're initially using essentially our partnerships with lenders to get exposures to consumers but those
consumers are just taking out a normal loan in fiat because you know typically in the traditional
lending space you know you can go and apply for a loan a couple of minutes on an app off your phone
and get funded almost instantly and so you need to provide the same user experience if not a better user
experience in order to you know have people use your product or you know be able to make an impact
yeah absolutely it doesn't matter what what what niche you're going for it needs to be simplistic
and um let me mute your mic real quick but um but yeah so
yeah so basically it doesn't matter what application or what you're doing in this space it needs to
it just needs to be like that you know the the goal is um for example my wife's really tech uh she's
really good with tech she's really good with art she's really good with like doing things on adobe
and that's what she does for for a living is she just does like content and um graphic design and like
things of that nature but what i'll do sometimes is like a new protocol or an application they'll ask me
for my feedback and yes i've been doing this stuff long enough that i'll get it i'll understand it
it'll come real easy and natural to me but what i'll do is i'll just say you know i'll say babe like
try this out and i won't give her any insight i'm just like go on this website and figure it out
and i'll just watch right and like sometimes it'll be real easy and if it's not then i'm just like i
tell the feedback right away i'm like you guys got to work on making this easier like it's just not
like and she's real good with the computer so just imagine someone that's that's older that can
barely use web 2 right it's like it's just you just like it just needs to be easy like you said
if anything it needs to be better right and um the end user shouldn't have to know like well i need the
meta mask or i need this then i got to do that and then i got to sign up and then i got to keep a
seed phrase and like none of that stuff should matter to like the end user now if they want to know it
then they can but just like if you and i are hopping on you know a website and we go from one
website to another we don't care that it's pinging off with different servers and you know the all the
all that stuff we don't care right we just know it's going to work and that's kind of like the vibe
that this space you know it's starting to get there but it just needs to keep drastically improving
because i look at anything as a friction point you know once there's more than one friction point
sometimes even just one's just going to do it because our attention spans as humans are just so
so low like we have no attention span we're just on to the next thing because there's so much
there's so many things for us to choose right um hell you can go to a grocery store there's 55
different brands of um potato chips right it's like there's so many options now and that's the same
thing with this space and just technology and websites and all that so you really only have one
chance to to nail that and that's great that you guys are focusing that's like your key focal point
is just making it so really the end user doesn't need to know you know they're even doing crypto so
that's that's just kind of the way it has to be you know at least until now uh or for right now until
the tech gets better and better but um so i guess what like stage are you guys in right now like with
your with your protocol and also while you're at it like how many people are on your team
for sure so in terms of what stage we're at is a protocol we have finished building everything
except for some final touches on our front end we have actually undergone an audit with runtime
verification which is one of the more well-known and respected auditing firms in the space
and we are have actually released our code publicly and deployed uh our protocol on a testnet and so
right now we are kind of in the final stages of just kind of getting some items wrapped up and
then we're actually looking to launch at the beginning of q2 next year so uh if you haven't given
the xivo account a follow already i highly encourage you to do so it's at the top uh kind of listed as a
speaker and i'm going to stay up to date as we continue to get closer to our launch uh in terms
of number of people on our team we have seven people uh internally on our team and then we have
a number of folks who are not uh necessarily on our team but are helping out in various different ways
so do you guys have like a newsletter or what which like do you guys do blogs like what's your best way
of like putting out content for the for the community our twitter is going to be the main way we're putting
our content right now we're going to be starting a blog series as well as a video series uh this month
and so we will be putting updates about those items as well on our twitter so keep a lookout for
that because that's going to be a good way to keep up with kind of what we're doing all right nice i'm
gonna pin uh i guess it was concave five uh concave did a thread about you guys recently so i'll pin that
up to up to the highlights up here so you guys can check that out but yeah definitely give them a
follow i mean that's like the best way to to you know follow and keep up with everyone so i
if anyone else sorry guys i'm like dame uh brain dead today but if anyone has any questions you know
feel free to raise your hand or ask in the chat and then i can ask for you or if you want to come up
by all means so just want to let you guys know that and then um you know what everyone always likes
to talk about in the space of with a new project is like how can they personally get involved and
also like are you guys going to have test net for people or are you going to have a token like how's
that going to work so we're likely going to actually essentially have a beta test where we allow
community members to kind of check out the protocol uh and use it on the test net and once we launch
people can be involved by participating in our ito which is what we're calling our initial tranche
offering it's essentially a liquidity bootstrapping event so this is going to be the first opportunity
for uh individuals in the space who are interested in supporting what we're doing and want to help
make a difference and disrupt the high interest consumer lending space to provide uh capital to the
protocol and they can do so via either our senior or junior tranche the senior tranche has a lower target
yield and it is protected in the event of a default by the junior tranche which has a higher target yield
i think it's really important to note though that we do not necessarily expect to ever have the junior
tranche incur any defaults because every loan we are making to a consumer lender is actually collateralized
by the loans to consumers they are originating so these loans while they are uncollateralized
on chain as we're initially providing loans on chain to consumer lenders they're fully collateralized
by off chain collateral that the protocol has legal rights to now when going back to kind of the ito
you can provide capital to either the senior or junior tranche and you will receive tranche tokens for that
one-to-one for abris stablecoin uh that is the possibility we are also going to be airdropping
uh some of our governance token as well during the ito and so that's going to be a great opportunity to
kind of receive some of our governance token to be able to have an early say in the protocol
now tranche tokens can be staked to claim yield from the loans that the protocol is making and you
can also stake our governance token as well and the governance token earns a protocol fee on all revenue
that is generated by the protocol and so that is kind of how you can get involved initially uh in the
protocol and again we're looking to launch at the beginning of q2 next year and so that'll be when
our ito is nice makes sense so which network is um what's the spelling of your token going to be just
so i know for future reference the spelling of our governance token is going to be zve zve and then
what about your the tranche token so the tranche tokens are going to be zjtt and zstt okay and then what
what which network are you going to go live on we will initially be launching on uh mainnet for it
okay so you're gonna be on ethereum okay correct all right cool
so i guess like you the goal is to do q2 or are you going to be what's the goal for people to be
able to mess around on on testnet that will likely come next month or in january so again we've actually
deployed everything uh on a testnet already ourselves uh and have been kind of testing
that internally and we will likely open that up to the public uh within the next couple of months so
that anyone can come and uh kind of play with our dap on a testnet and give us feedback on the ui
because you know we want to hear from the community about you know what you think because you know
it's one of those things where you know when you look at something for a long time
you know you may have a good understanding of it like you mentioned but when someone else looks at
it you know they may you know see it differently and so we want to make sure going into launch i
think our front end uh is really user friendly yeah just pay me i'll definitely check it out and
give you some of my feedback and all that too so i just might that sometimes i just have so much
going on that and you know how this space is like it's this flies like time just goes so fast
ever since i've been in this space since you know like early 2020 i swear man like it's like
it's about to be 2024 and i'm just like what the hell like i went so fast it went so fast
because you're just always doing something or learning something or researching something or
talking to someone or which is amazing right but like it just makes the days go so fast and like i you
lose track of time in a space it's like you can be doing something and then you're like holy shit i've
been sitting in my chair for like six straight hours without getting up like get your ass up
you know it's like this space is amazing with that because it's just it just keeps moving right
doesn't go to sleep it's not like they're track we're talking about traffic it's not like the
traffic world where it's like oh the banks are closed oh it's the holiday oh it's this like
it's just yeah you gotta like balance it in this space because it's this it's a it's a crazy space but
i would want you know i don't want to be anywhere else but this space and i'm always appreciative
like the people that tune in listen live ask questions especially right now when um you know
we've had the longest bear market and just kind of crappy times right if you're like someone that's
just always looking at price um price points and stuff like that but uh typically the people that
are always like checking in at least you know i don't it doesn't have to be daily but just you're
you're in the space quite often right multiple times a week you you know you look for those
opportunities you're like all right i think it's a good good time to get in here get a position and
do what you're doing but it's all you can do in this space is just uh have a good time take
calculated gambles not financial advice but um you know just believe in what you're in like why are
you in there in the first place you know oh okay so it's just you got to keep pushing forward and
anyone that's building in this space whether it's on east or on a cosmos polka dot whatever uh i believe
that most people have good intentions and all they're trying to do is build uh something that
improves humanity you know and that at least that's what i like to think and that's what i'm
trying to do in this space and you know i want to be doing this the rest of my life so yeah thank you
everyone that's in here right now i always like to thank everyone i more so like i said right now because
it gets a little bit boring you know i just do these spaces and stuff and it's like okay everyone's
tuned out you know so anyways rant rant over so one thing i heard you say earlier you guys got
seven people on your team like how i always like to know like how how did you guys even meet one another
how'd that work yeah so it's kind of an interesting story for that and also i think sophie may have a
question uh if you want to have them come up afterwards so our founder actually created one of
the largest consumer lenders of its kind in the united states and while he was there uh he kind of
had a realization that he felt that a portion of borrowers uh in this consumer segment that were
looking to help could be underwritten at a significantly lower interest rate and there was a
mispricing um for how risky they were in the interest rate they were receiving and so he actually
left that company uh as well with a couple of other members of our team that also worked there
uh to actually start zyvo and so i think it's you know really interesting with our team because
we have a really unique blend we have you know a group of people who have a ton of experience in the
traditional financial system have decades of experience in underwriting risk in operations and
legally compliant and bring that to the table and i think that's really important for projects
in this space going forward if they want to be successful on the flip side as well we have a ton
of defy native experience too so our head of technology who's one of my co-founders uh he actually
was the architect for maple finance version one and that protocol has done about two billion dollars
and on-chain motor simulations and so you know i think our team is really well versed in what we're
trying to do and is going to position us to be really successful in the future
yeah man that's awesome it's just always it's always fascinating to find out like how
people met in this space you know like a lot of times the first time that i'll actually meet someone
you know in person is at like a conference or whatever but we've been chatting for like a year
or something so it's always interesting to see how teams meet one another like sometimes it's like oh
well i went to school with them or blah blah blah but it's always crazy to meet have the stories about
people that didn't know one another until till this space and then there could be all over the world
right but working on the same mission but anyways go ahead sophie there's sophie hello uh am i audible enough
all right uh it's it's been a pleasure to be here because it was uh it is very informative uh
in my session so far yeah my question for uh
uh zivo finance is that uh regarding the community and partnerships so uh can you share
any community driving initiatives or partnerships that uh zivo has undertaken to promote the financial
education and uh inclusive inclusivity in the lending sector and uh how does zivo engage with with
its user community gather feedback and uh incorporate uh user suggestions uh into the platform development
thank you yeah for sure great question so initially you know what we're looking to do for zivo in terms
of being in the space is on the essentially user side where i think most people in crypto would fall in
is on the liquidity provider side and so we're like i mentioned going to be releasing the test net and
you know we're going to be opening that up to feedback so anyone who wants to you know hop on
our dap what's on a test net and you know try it out is more than welcome to give feedback in fact
we actually want as many people as possible to give us feedback so we can optimize it as much as possible
as possible going into our match now what we're also going to work you know in order to do help with
you know financial education i think more so on the liquidity provider side what we're really trying
to do and i think kind of talk about the beginning of the space as well is you know for me crypto has
always been a alternative or not necessarily an alternative but a way to improve the existing
financial system that i think has failed a lot of people and so we want to build a community of
people who believe in that and kind of want to come on this journey with us as we work to disrupt
predatory lending and hopefully you know make the world a better place because that's really why you
know we decided to start this and in terms of kind of updates and other stuff you know up to this point
in time we you know have been pretty low-key about what we've been building but now that we're kind
of gearing up for launch we actually i think some of them are in the space right now from the genzio
team is we are going to be working with genzio it's a pre-woman marketing firm in the space that does
marketing for youth denver um algorand and a number of other you know fairly well-known projects and
events in the space and so over the next couple of months you can expect to see us rolling out a lot of
content um kind of talking more about what we're doing so we'll be sitting down and they'll having
them do interviews with our team amongst other things and you know we'll be kind of providing
uh more context on what we are doing so you know i hope that kind of answers your question so and i'm
happy to uh you know answer any questions you have well fantastic uh you know uh artificially
intelligent has become a world trend uh in the crypto crypto space so do you have any plan to
integrate ai in xaver finance so that's something we'll probably take a look at you know later on in
our roadmap i think the thing for what we're doing to begin with right is we're working with fintechs
who are providing capital to consumers and so it's pretty typical in a way it's not quite ai but for a
long time in the underwriting process when we're underwriting the consumer for alone we're using machine
learning and it's becoming to look more like ai or self-training models to actually predict propensity
to repay and that's part of why we feel you know in this day and age no one should be getting a loan
at 300 it just shouldn't happen and so that you know that's part of what we're trying to address and
i think you know as we as a protocol move closer to getting direct exposure to consumers we will begin
integrating ai and additional things like that in order to further automate uh not only the protocol
but the actual lending process because part of what i think is pretty incredible about blockchain is
you know the the key for all of this i think and you know cosmo has kind of talked about it is
you know blockchain at the end of the day is really is about a perfect accounting ledger as you're
ever going to debt and i think if you can layer on you know ai tools or other automation tools on top of
that you know you can automate out most humans from the process of let's say lending or underwriting
to drive further cost savings which will allow not only um higher yield but also savings for end borrowers
that is awesome thank you very much mr for answering my question and uh thank you cosmos for
and give me all to speak
yeah absolutely thanks for stopping up i'm trying to get uh gen z up here
there we go sorry about that you should be good right after it puts you up in here hey guys what's
up what's going on man how's it going yeah sorry just uh thought this is a really interesting
conversation just wanted to kind of hop in so sorry didn't mean to interrupt i'll let you guys continue
no man thanks for stopping up
so did you have anything to do with the eath denver um graphics and all that i was at eath denver it was
a good time oh yeah thanks man yeah i'm actually wearing my uh genzio eath denver hoodie right now a lot
of the uh yeah kind of the branding and the media and i know uh like kind of to focus it around this
space that you know thor will be having a presence at eath denver this year we just did a space with uh
john pauler who is the founder of eath denver last week and he was also uh he started a new company
called opolis which is like helping individuals get uh like worked uh able to work like as self-sovereign
workers so really interesting stuff um but anyways just kind of wanted to bring you back i guess around
the conversation that you guys were having and uh you know i guess um go over this little piece that
the piece that you published sorry and in terms of the game changing credit protocol i guess question
for you is kind of what drew you uh to write about it in the first place
i i think for us you know and we we may have touched on this a little bit earlier so i'm sorry
if anyone is listening if i'm kind of repeating myself a little bit you know we really think that
the future of the financial system is going to be blockchain based this is a more efficient way of
moving money and at the end of the day you know even a couple basis points on the transaction we
scale that to trillions of dollars it is huge and so you know we feel over time more and more stuff is
going to move on chain and the financial system and for us you know it may sound you know i'll give it
an analogy maybe kind of really cheesy but i think the thing is if you look at and it's kind of
maybe a perfect example but something like wall street fetch right where people were you know kind
of doing stuff with umc or other things because i think there really is a desire out there amongst
people especially you know millennials or gen c to you know make a difference and if they're going to
you know invest or do something else is they want to you know allocate stuff into things that they
feel are really going to make a difference and so for us that's what we're trying to accomplish with
this so i
difference especially i mean i think uh at least for me because like i worked at ripple and a lot of
the kind of use case there was helping people access um credit in markets where it's not traditionally
available and the reason that a lot of people get into like debt traps or really bad uh you know
situations is because they can't have like small payments in terms of like 400 to 500 which could
like radically change their life like a lot of people uh you know could buy like you know some kind of
sustainable food source or uh you know something that could allow them to have a more sustainable income
simply with a small investment uh the problem is i think and i think this is what this protocol is
addressing is that a lot of those loans have astronomical astronomically high interest rates
where they end up like suffocating the borrower more so than helping them and so i guess like for
like kind of question for you is how do you kind of see these companies that are uh existing in this market
today and how do you kind of talk to the those consumers and educate them on like web 3 um and
like is it a natural com kind of conversation because they're already kind of used to these
lending systems or is it kind of like a broader conversation around web 3 and and lending um i guess
when you kind of approach this so i think there's there's a kind of a lot to unpack there uh and i think
exactly we have joined a little a little late on that we can talk about before i think the thing
is is you know in our case what we're doing to begin with is we're not lending to consumers right
we are providing capital to lenders in order to enable them to finance more affordable consumer
so i think the thing is with that is that's going to provide the end borrower with a really traditional
um web 2 experience because i think the thing is with you know this space in order for it to
fully realize its potential is at the end of the day you need to give people an experience that is
no different than what they're used to from kind of web to additional financial system and so i'll
maybe re-give an example i gave earlier from people in the space but if you look at things like sling
money cash or some of these other things you know they look like you're using for instance like for
people who are based in the us then right you're able to pretty seamlessly send capital uh anywhere
across the world for a lot of these and they're using blockchain rails to do it but you don't actually
realize that it's occurring and so i think products like that are going to be successful in space and
you know while we're doing a slightly different approach we're trying to offer the same you know
essentially end experience for someone who is looking for a that makes sense yeah i mean i think
that's a key part of it is going to be like the ux and making it actually um easy to use for sure
um i guess like and for cosmos i guess i was kind of originally asking is you know when you kind of
wrote the arcs are concave um like cosmos like how did you hear about kind of like the protocol
and stuff just kind of wondering like what what drew you to it so i didn't necessarily i didn't write
the concave uh thread i just pinned that up there but as for thor how did we even meet thor it was a
what we go back for a while now it's been a while since we've like chatted here and there
i want to say it might have originally been a space actually and then we we connected afterwards
but yeah i mean we've been in touch now for i think you know going on like eight months so it's
you know been a little bit now yeah so for for uh genzia what who what should i call you by the way
yeah genzia is cool okay so essentially my background i don't know if you heard earlier but
my background's in accounting and finance i've been in that space for i don't even know way too
long actually and uh i got in my crypto journey i got in in 2020 and there's multiple reasons why
but it was true it was realistically because i the virus happened i knew something was up i'm i don't
believe in coincidences so i'm like you know what like i always love tech i've been i can build
computers i've always loved technology and i i was i had free time for the first time i was laid
off for a few months and then i'm like you know what let me go down this rabbit hole and um then i
just like i said earlier i just visualize blockchains is nothing more than like a decentralized accounting
ledger that has perfect equations and then you build cool useful applications on top of that and i
believe that most people have good intentions in the space and they're building tools out for
essentially to improve humanity and make it a better and more fair place for all for others
right and when i've seen this because like my background and not even just using what you were
referring to with if you're a small startup in an undeveloped country and how they just like you
were saying it's basically nothing less than really bad loan sharks that are hey if you don't give me your
20 today i'm gonna you know smack you in a kneecap right and it's like you can never get ahead if
you get on that route and sadly there's so many people that cannot get access to credit like
throughout the globe right even just in america but just all over the world and if they can they're
just getting ripped off something you know it's like signing a deal that you just never can get
ahead right so like what's the point and what they're doing what zyva's doing is like something
that just resonates with me and i'm i'm always for i don't care what chain it's on or what they're doing
as long as it's something that i see that could be useful that essentially is just improving
humanity like i'm all for it right and i just uh try to help pass the message and and reach out and
i've met so many people in this amazing space and met so many connections and um my goal and prerogative
for this my journey is always to try to give back and you were saying about like the 400 you know i do
a lot of giveaways where you know maybe as an american you're like oh what's what the hell's 20 dollars
gonna do for me or 50 you know 30 bucks or something but like i've done so many of those
over my you know two plus years in this space and it really empowers people because it's like the
cost of living in other nations are just so much lower than us um in the states and um but anyways
that's kind of like my thing is is uh i really think that crypto is like speed running thousands of
years of inequality is it going to make it a perfect place no there's always going to be it's always going
to be tilted to people that have more financial wherewithal that's just always going to be a
thing however it does make it a more fair playing ground like way more fair than we've you know like
humans have had to deal with since like we've we started life forming on planet earth and uh so i'm
all for it man like i love this space i had a great time in east denver probably gonna go this year i i
just went last year full disclosure just for builder week like i was there like uh the last five days
of february so i'm assuming it's probably going to be around the same time frame i'll probably
do builder week again i should probably stay a little bit for the the glitz and glamour too but
i thought builder week was amazing because i went really to like well my time constraints really only
allowed me to go till feb for end of february but i really went because i wanted to see what everyone
was building and see what all the devs were up to and stuff like that and and you know it's always
great to go to things like that and see what the the hype is you know like what's everyone working
towards for you know the upcoming years so to speak as opposed to what's already out and
yeah it was a good time though i think you guys do a really good job with your your artwork and your
marketing the team was awesome i met like quite a few people that helped put east denver together and
i forget what hotel i stayed i was really cool it was just like real hipster but there were some people
there that helped with um east denver and stuff like that too but anyways um yeah so does anyone
else have any further questions i can get carried away there thor you know what i mean
all good man so let me make sure you're back up here as a speaker from this
what we're gonna do is let me see if i could take a snapshot of everyone that's in here
are you able to see everyone thor i cannot it kind of cuts it off
yeah me too like we have people in here and then it shows others
all right so this is what we're gonna do there is like let me see how many people are in here
50 ish so i'm thinking of a number from between one and 100 let me think of it right now all right got it
whoever guesses it or the is the closest is gonna win i have the number right now i wrote it down
so you need to put it in the comments if you want to if you want to be a part of it just so i know you
have a pulse and you're alive right now so just put a number anyone number from zero or excuse me from
one to a hundred the closest number gets it i already wrote it down on the piece of paper if someone guesses
it and there's multiple people then i don't know we'll just have to split it i guess
so one guess too don't be putting more than one guess or else you're disqualified
does that sound fair thor just kind of winged it just winged it up there
no thor man like so you guys i'm from earlier you're going to be at east denver then
correct yeah i think i you know i've got to head out at the top of the hour here but you know since
we have um zach on he's kind of helping with some of our you know marketing maybe exactly we would
want to speak a little bit about you know some of what we have planned uh in regards to marketing
for zybo in advance of our mantra quick yeah definitely so i mean i think that um i mean at
east denver as uh kind of cosmos posted out it's very uh builder focused and so what i think for us
it makes a lot of sense to kind of uh introduce our community because we're just kind of getting
started um obviously with the actual protocol going live uh in 2024 i think you know it's kind of about
getting the word out and building our community so we'll likely have a presence with a booth where
people can come and learn about like what we're doing uh join our discord and maybe have like a
speaking spot where thor can uh you know be able to speak to different people so i think the real goal
for us at ethereum denver in the next couple of months are really to get our brain out there and
i would also say um kind of bring awareness to this actual problem because i don't think that a lot of
people actually know much about the high interest lending space and so i think a lot of it's going
to be kind of bringing awareness to the market overall about this issue and then why and how we're
tackling it using web3 because it is pretty new i think for a lot of people in the way that we're doing
it and so i think kind of explaining that and also painting the picture of the problem is going to be
really important because i think often the problem isn't uh accurately like depicted uh in the media
or even in marketing materials so it will be kind of like i think uncovering that or demystifying
the lending space a bit and then showing how what we're doing is creating a solution tailored
with web3 to solve those issues and then you know beginning to build community around that because
we really want a strong base of supporters who will contribute liquidity but also just spreading
awareness and building this vision so that people when they know when they see like our brand and what
we're doing they can instantly associate it with the mission which is you know providing more reliable
better access to credit to people everywhere so that's kind of i would say the next stage as the
development gets wrapped up and people are actually able to start depositing uh and using the protocol
so i don't know thor if you think i missed anything there but i would say that's that's probably what
we're going to be focused on no i think i think zach did a good job explaining that i think the thing you
know a lot of people don't realize right is you know we talked about it briefly earlier is you know in
the u.s this is a 70 billion dollar market so there's 70 billion dollars worth of loans in the
u.s that are at you know what i would say pretty egregious interest rates and you know annually more
people will take out a a loan that kind of falls into this category than live in new york city and so
you know whether or not you know it you are probably one or two degrees removed um if not having taken one
of these loans yourself from someone that has at some point in their lives you know taken out a
loan that has an apr in excess of 100 and so we really want to kind of spread our message like zach
mentioned about you know what what this market is because i think a lot of people you know don't
want to know about it and two may have a lot of misconceptions uh about this market and so that is
as part of you know our mission and what we're looking to do um with zyvo so with that being said
you know i think we may have time for you know one or two more kind of final questions or yeah
if you have anything else and then we can probably wrap up here yeah absolutely so you guys can always
count on me helping i probably will get to go to uh to east denver so like if you guys need help or
whatever that's cool too but anyways looked in the comments real quick i can give another hint it's
it's above 50 and it's less than 95 so everyone gets another guess i hope someone nails it but we'll
go to the closest one so it's not it's both above 50 below 95 that doesn't mean it's 94 it could be
but i'm just letting you know just to narrow it down so everyone put it put a guess in there again
before we wrap it up and then like if you know thor has to go top of the hour i'll look and then we can
always you know figure it out after the space or whatever but no man great conversation looking
forward to um you know the progression of what you have going on it means a lot that people you
know see it like the the thing i love about the space is why people do what they do they see a
problem or an issue with like the we'll just call it the old world the old world and you're using
technology um you know to to make it a better place and and also a decentralized place where
it's just the role-based system right it's like we all have roles but there's no ruler the community
the governance that's technically the rollers and we all have skin in the game and people can decide
like the progression the future of um the protocols and and the chains and app you know all of that so
it's just really cool uh compared to the old world right it's like you could own a share of apple or
google or amazon but like what say do you have in anything that they're doing you have zero say but
this space is completely different you could own like 20 of something and you actually can make a
difference you could be out there you could be talking you could be helping and um and also too
just before we wrap it up just wanted to everyone to know like this space is exponentially growing
there's just there's so much growth opportunity in this space so everyone has a skill set that can
find a place in a home and in this space one way or another so always keep learning growing and and
doing your thing because there's always opportunity here so anyways that's kind of my last wrap up i
just appreciate everyone if there's any closing thoughts that you have i mean i don't have anything
else besides i'm you know thank you everyone yeah maybe just as a you know a final note for
anyone who didn't hear earlier no we are zivo and we're working to disrupt predatory high interest
consumer lending so we will be launching in q2 of next year you can give us a follow up at zivo finance
that's z-i-v-o-e finance and we should be listed on the top of the speaker as well so thank you for
tuning in today absolutely and hey uh it's funny that the person that came up sophie you're you're one
off so you're the winner man you congratulations it was 77 by the way it was number 77 and you
that you guessed 76 so congrats um we'll get your info um you know i guess you're me or thor and then um
yeah congratulations so take care everyone have a good rest of your day good night uh wherever
you're located cheers take care
