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‘The only thing holding us back is us,’ says Charles Hoskinson on DeFi's future
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The total value locked, or TVL, in decentralized finance (DeFi) has soared to over $250 billion as 2021 closes out, according to DeFi Llama, with most activity on Ethereum. The budding DeFi industry only became mainstream during summer 2021.
While TVL valuations underscore the rapid growth of the industry, Cardano (ADA) founder Charles Hoskinson has warned about the challenges facing DeFi. In a YouTube video entitled "DApps and Cardano DeFi Alliance," Hoskinson talked about DeFi's potential as well as Cardano's small role within the industry.
According to Hoskinson, who has been on a decade-long quest to transform traditional finance, there needs to be more long-term vision among developers and creators:
Related: DeFi can be 100 times larger
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