Developers of anonymous decentralized finance (DeFi) protocol DarkFi, Amir Taaki and Rachel-Rose O’Leary, say that the development of zero-knowledge cryptography might be the key to survive a looming regulatory crypto winter which might split the DeFi industry into tightly-regulated and unusable Regulated DeFi (RegFi) and frictionless and private Dark DeFi (DarkFi) after 2022.
In an exclusive interview with Cryptonews.com at the Blockchain Economy Expo 2021 event in Dubai last week, the developers said that despite the current macroeconomic climate and development of AI-based systems, they are bullish on privacy and think that crypto will play a pivotal role in the fight to preserve it.
According to Taaki, crypto is “like a lifeboat that [people] can use to travel to safety.”
Meanwhile, if the above-mentioned split happens, he expects the market capitalization of most cryptoassets to fall, and that only the most robust protocols would survive such an “extinction event.” However, Rachel-Rose O’Leary estimates that crypto will come out stronger out of this “because it will have to reassert its autonomy and its ideology in order to sustain the winter.”
Despite that, she remained positive about the market outlook for crypto as the macro environment is still favorable for this nascent asset class.
Also, the developer said they estimate to ship DarkFi’s mainnet in the next six to eight months.
____
Watch our full interview with DarkFi developers and learn about the results of DarkFi, growth plans, trends in financial privacy and crypto, their take on metaverse, BTC predictions, and more.
The interview is brought to you by Matt Zahab and Eimantas Žemaitis.
__
The transcript of the interview:
How has DarkFi been in 2021?
Amir: We just announced the project literally two weeks ago. Our Telegram channel is already over a 1,000 people in a short space of time. Lot of people want to help the project, very, you know… said it was the best token, let’s come, so we have a lot of enthusiasm.
Rachel-Rose: Yeah, I think people, the whole kind of…people are a bit burned out from the NFTs and like metaverse, the kind of fantasy world – stuff that’s coming out of crypto – and DarkFi is emerging as something more real. Its also a movement more than it is a single project or a company. So it is very welcoming in that way, lots of people wanna get involved.
Talk to me about testnet – how has that been so far?
Rachel-Rose: Okay so testnet was probably a misnomer – it’s actually more of a prototype…but really what it demonstrates is like the underlying cryptography, and then we, like, put together a network to kind of showcase that. That’s really useful in terms of the first stage of the release process but the next step is…we have to produce big steps ahead in terms of, you know, basically putting on a blockchain, and also swapping out some of the core…
Read More: cryptonews.com