OroPocket co-founder, Tarusha Mittal, was one of the panelists at the Asia Innovation Summit 2021.
Asia Innovation Summit 2021 is Asia’s first top research-oriented emerging technology conference hosted by a well-known innovation management firm – Lumos Labs. The event was hosted in association with a DLT focused global multi-asset fund, Woodstock Fund, and a global growth and funding enablement platform, DAOMaker.
This conference brought together startup investors, corporate innovators, academic researchers and top entrepreneurs from across the continent to discuss 3 important pillars of the tech world – Blockchain, AI/ML and Internet of Things.
The event was a month long, happening every day with different speakers from across the world. 40+ speakers took part in live conference at regular intervals.
Tarusha Mittal joined the panel on July 21, 2021 where she spoke about Tokenism and Web 3.0.
Tarusha Speaks About Web 3.0 and Tokenomics
OroPocket co-founder, Tarusha Mittal, was witnessed live on July 21, 2021 at AIS. She was joined by other speakers including John deVadoss, Veronica and Shane Hong, along with the host, Pareen.
Tarusha gave an entirely new picture to the Web 3.0 and Tokenomics.
Web 3.0 is the new paradigm in web interactions, and it will signify a significant shift in how web developers create websites, and how users interact with them.
Tarusha believes that this new paradigm in web interaction is making people’s online lives more intuitive. The reason is Smarter Applications which give users what they’re looking for.
“I’ve been into crypto space since 2013, that’s when the mining actually became a buzzword circulating across the internet. The biggest difference between Web 2.0 and Web 3.0 is how they act as the equalizer.”
“I’ve raised money for both our startups, OroPocket and UniFarm, via equity as well as tokens, and what conclusion I’ve reached so far is that things move at the lightning speed in blockchain and crypto space. This is something that we couldn’t see in Web 2.0, when it comes to deep tech. I believe that with the tokenization and incentivizing users and any kind of stakeholder with tokens things tend to move a little faster, and it’s always a great equalizer.”
According to her, Web 3.0 brings a lot of speed to the ecosystem.
How Does Tokenomics Work for You?
The science of token economy is known as Tokenomics. It encompasses all aspects of a coin’s creation, management, and, on rare occasions, removal from a network.
On being asked, what crypto founders goes through when they have tokenomics working for them, she replied –
“In deep tech, raising money can turn out to be a challenge when you’re going to investors who perhaps might not understand your idea very well, because there’s a learning curve there. When it comes to equity, there’s a lot more due diligence that happens. But with tokens, the process is faster.
Also, she added,
“Within the network, we have all of these operators who have turned into investors. So we understand how the vision would work and how it would pay out.”
“With equity, there are more hurdles to cross. But with tokens, on the other hand, if you have a good network and you have confidence in your idea, a lot of people wants to hear you out and listen to your vision.”
Tarusha’s Experience and Vision with Her Products
Both the products, OpenDeFi and UniFarm, are redefining the DeFi industry.
With OpenDeFi, she’s tokenizing the real-world assets by playing between real-world and synthetics. She, with her startup, has tokenized GOLD and SILVER in 1:1 ratio. She has also put these tokens on Bitdroplet, where users make recurring investments.
On the other hand, UniFarm is a staking and farming protocol where she’s made it a win-win for both investors as well as projects to make profits respectively.
This was undoubtedly one of the most informative panel discussions. If you somehow missed on the interactive session, here’s link for you.
OpenDeFi provides 100% asset-backed banking without the insidious, hidden charges and time-consuming tedium that come with traditional banks. Through their Fiat on-ramp OroPocket, users can invest in multiple asset classes, grow their wealth, enjoy 100% liquidity—all on Blockchain, with a simple app.