Mr. Pekka Kelkka Discusses CeFi, DeFi, and NFT at the Blockchain for Smart Economy Event
“We are announcing our ALPEX Global in the Future Blockchain Summit.”
Yesterday the event ‘Blockchain for Smart Economy’ took place at the Atlantis in The Palm Dubai, which provided valuable information for anyone interested in learning more about blockchain technology. Investing in the blockchain space and trading virtual assets is expected to open up new investment opportunities after the conference.
In the keynote sessions, some great speakers provided insights into how disruption technology is fast acquiring mainstream appeal and bringing great epiphanies to investors.
Our very own mentor and advisor — Mr. Pekka Kelkka was invited in the said event together with Professor Martin Spraggon, David Do, Dr. Hassan Abdul Iziz, Mr. Makram Hani, Mr. Amro Zakaria, Mr. Hussein Sayed, and Ms. Irina Heaver.
In addition to blockchain experts, startups, managers, system and project owners, suppliers, contractors, government officials, consultants, and many other industry professionals attended the event.
Mr. Kelkka went on the stage in the afternoon, after lunch, and asked everyone to stand up. By doing so, he engaged the audience and helped them stay awake. It’s worth noting that Pekka has been involved with blockchain for over five years.
During Mr.Pekka Kelkka’s keynote, he gave all team members of ALPEX Global a moment to stand up and be seen. As a mentor and advisor, his ability to lead a team was evident.
In the speech, he focused on the introduction of centralized finance (CeFi) and decentralized finance (DeFi). Later on, he also discussed non-fungible tokens (NFT) which he called — ‘The killer app on blockchain’.
On explaining CeFi, Mr. Kelkka shared,
“CeFi has nothing to do with the banks that we know. Why? Because we are living with virtual assets now. These platforms allow us to lend, borrow and earn passive income. If you want to take a loan on these platforms, you get the assets deposited to your crypto wallet in seconds or minutes.”
As he continued, Mr. Pekka listed several Pros of CeFi, such as its ability to be insured, regulated, and licensed. They have the best platforms that are audited, with KYC/AML (know-your-customer & anti-money laundering). The only con is that you need to trust a centralized organization.
As a result of the discussion, he left a very interesting question for everyone: “would you trust a person or would you trust a computer code?”.
Furthermore, on DeFi talks, he mentioned that hacks have happened, and you oversee everything (e.i., no customer service), no insurance, no KYC/AML, and regulations are not yet clear. Mr. Kelkka also cited positive factors such as DeFi being fully automated, and there is no middleman risk.
Lastly, he talks about the NFTs. Mr. Kelkka explained,
“If you publish something on the internet — you can consider it misused or stolen. These internet giants, they know more about ourselves than we know. They are misusing our personal information. But, that is the time before NFT.”, he added “This is why we need blockchain.”
As he spoke about NFTs, he mentioned a crypto punk that is worth $11.7 million, he then asked the audience: Why is NFTs Making Money? One of the reasons, he said, is that NFTs are unique and buyers consider them collectible.
The presentation ended with Mr. Kelkka demonstrating a new NFT Art Car integration created by one of the top NFT artists in the cryptocurrency industry, Vesa Kivinen. He was applauded warmly after his keynote and participated in a panel discussion with all blockchain experts.