We had an amazing time at our local AMA event hosted by Davao DeFi Community last 22nd of July in Davao City and we’re excited to share some key takeaways from some of our favorite talks.
With speakers and guests arriving at the event, we began with a brief introduction and pleasantries, followed by cocktail food and platters.
We had an informal setting, with tables set up around the small function hall and each guest having their laptops on. Each person seemed to have a different level of anticipation for this event.
As an opening, Rod discusses the next internet revolution – the web 3.0 and how it is such an important component of society, its importance in society, and how it has evolved. Then, he gives the floor to Ruben to discuss DeFi and the present financial system. He then explained money pegged to gold or other commodities, the monetary system, the minting of paper money, and other factors that contribute to money’s value. He shows the similarities and differences of TradFi, CeFi, and DeFi.
The next session is Ruben’s incredible presentation on blockchain. His first question is whether the audience is familiar with e-wallets or virtual wallets (such as GCash or PayMaya). During the presentation, he explains what an e-wallet is, how it can be used to send real money, and how ledgers record these transactions.
In this topic, Ruben explains how blockchains are a new kind of database (a ledger that stores records, similar to accounting records where every transaction is placed in a ledger referred to as blocks, that are inter-connected in the network) that allows for programmable money, a shift from centralized to decentralized computing, as well as interoperability between blockchains. Blockchain is crucial to shaping the internet of the future, as he discusses in the lecture.
After discussing blockchains, he moves on to the most well-known cryptocurrency protocol, Bitcoin– dives into the Ethereum Ecosystem, shows the difference between PoW (proof of work) and PoS (proof of Stake), NFT’s and the multiverse ecosystem that scale and interoperate with each other in a decentralized way.
In the final part of the talk, we dive into how we can participate in the protocol, how we can help secure the protocol, how to stake, delegate, understand DEx and DApp and do your own research (DYOR) by verifying tokenomics, audit checks, reading whitepapers and documentation and importantly the community of the protocols, and encourage everyone not to give financial advice (NFA).
We had an amazing time during the Davao DeFi meetup event and we’re excited to share some key takeaways from the event sponsors, speakers, and guests.
We at Davao DeFi Community are honored to host the incredible event we had there and to hear the insights on what’s happening in this space, and we are committed to providing similar events to discuss strategies, how to minimize gas fees, how to set up validation node, training about NFT’s, virtual digital art, and its minting process.
We love to hear from you and looking forward that we may enable similar communities into this space, as well as collaborating with us for more future projects.
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This article is published on BitPinas: Event Recap: Davao DeFi Community Meetup
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