Pendulum co-founder says WEF can’t stop crypto innovation and adoption

In an exclusive interview with Finbold, Alexander Wilke, the co-founder of Pendulum, a public blockchain connecting traditional finance with decentralised finance (DeFi), has maintained that despite the pessimistic position on cryptocurrencies by key global organizations, the sector is bound to keep growing.

Wilke referred to the gloomy crypto sector outlook by the World Economic Forum (WEF), noting that the agency’s stand has little impact on the overall digital assets market prospects.

Crypto to record increased adoption

He noted that although the crypto sector is facing headwinds, they will only slow down adoption while calling for an understanding of the industry before making a stand. According to Wilke:

“More and more use cases will be adopted, and more intermediaries will be automated by smart contracts, potentially delivering a better service than their centralized counterparts. This cannot be stopped by some people having a different opinion, including the WEF. In my opinion, an opposition to that overarching DeFi growth can only happen when people are not familiar with DeFi or defending their currently disrupted business.”

With liquidity standing out among key issues that have impacted the crypto market in recent months, the co-founder stated that Pendulum focuses on growing a sustainable ecosystem while aiming to lower rewards with further adoption.

Amid the crypto market downturn, regulators have increased the oversight of the sector, and Wilke pointed out that Pendulum is keeping tabs on changing laws in various jurisdictions. He stated that the company focuses on working with partners for stablecoins that comply with specific jurisdictions’ laws.

Finally, the Pendulum co-founder explained that the stablecoin standard and the open architecture of DeFi applications partly contributed to the platform’s option to focus on the convergence of forex and the decentralised finance sector. In this case, diverse users can participate in liquidity contributions through different currencies translating to a higher fiat liquidity aggregation.