Before 2021 came to a close, decentralized finance (DeFi) firm Earnity had raised more than $20 million with the intent of developing a marketplace for crypto users to earn, collect, learn about, and gift tokens and portfolios of digital assets. The company hopes to make cryptocurrency available and accessible to a broader audience.
Earnity, led by co-founders Domenic Carosa and Dan Schatt, firmly believes that more people should reap the benefits of cryptocurrency. However, the world is still far from the wide-scale adoption of cryptocurrency that purists, enthusiasts, and early adopters had hoped for.
Earnity’s Domenic Carosa See More Room For Growth for Crypto
It is imperative to keep in mind, though, that the world is still in the early cryptocurrency days. Bitcoin may have been in use starting in 2009, but blockchain as a technology is still relatively young. The market capitalization for the popular cryptocurrency is more than $200 billion. And many others have seen massive valuations over the past years. Still, data suggests that crypto has much more room for growth.
Another roadblock to the mass adoption of cryptocurrency is the lack of education on how it works. Cryptocurrency and blockchain seem like abstract concepts that many people have found difficult to understand. The fear of not fully grasping how cryptocurrency functions have deterred countless users from entering the space.
Ease of use has also hindered the mainstream use of cryptocurrency. After all, not everyone will want to memorize or write down a 64-character seed phrase to access and transact with their funds. Until users can buy, sell, or hold without learning cryptography, the global adoption of cryptocurrency will remain a pipe dream.
Earnity’s Domenic Carosa and Dan Schatt seek to challenge these hurdles by creating a platform that makes transacting and earning crypto and DeFi products and protocols user-friendly yet secure. The company adheres to the notion that DeFi should be about access and not about putting up more barriers.