Concordium to launch DeFi Lab focused on building regulated decentralized financial products


Over 30% of the financially included population are currently familiar with cryptocurrencies. Background of the Concordium DeFi Lab:

There is no doubt that crypto is here to stay.

In the second quarter of 2021, it was estimated that there were over 300 million cryptocurrency users worldwide. The average rate of crypto ownership by country is now 3.9%, and more than 18,000 businesses around the world now accept some form of cryptocurrency as a form of payment. Decentralized Finance (DeFi) represents the main opportunity for individual investors to use their cryptocurrency holdings for financial gain. In Q4 2021, the total value stranded in the DeFi space is $ 195 billion.

Despite the incredible growth and increasingly widespread use of cryptocurrency, its primary area of ​​application, DeFi remains isolated from consumer protections. Regulators around the world are already catching up, struggling to apply supervision designed to improve traditional financial systems to this rapidly growing space. There are general concerns about how to regulate this space to further facilitate its growth. Concordium DeFi Lab intends to alleviate these concerns and promote DeFi products that can offer and even increase consumer protection ‘

The Concordium (Reg) DeFi laboratory:

Concordium Lab for DeFi Regulated Products will prove that the next generation of financial products, built on the back of decentralized networks, can ensure consumer protection and meet user needs

The Concordium (Reg) DeFi Lab will consist of three components.

1. Opinion leadership:

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Stream 1 will consist of hands-on research to show how new features of smart contracts, embedded identifiers and cryptographic signatures can be created to meet compliance and regulatory needs. It will provide input to national and regional regulators as they seek to translate global guidelines into specific national legislation.

2. Proof of concept:

Stream 2 will focus on product development as a proof of concept. The proofs of concept will provide valuable precedents within the DeFi space that prove the ability of various protocols to enable regulatory compliance and oversight. This is where Concordium DeFi Labs will connect words to actions.

3. Commercially viable products:

Stream 3 will accelerate the development of incubated concepts such that they become commercially viable products with a clear roadmap and market launch strategy. The priority for all commercially viable products will be regulatory compatibility and minimized centralization.

The (Reg) DeFi Lab will move projects through these three streams to incubate and accelerate the most promising ideas in the DeFi space. Areas of particular interest to the lab include NFTs and new digital asset classes, Decentralized Autonomous Organizations (DAO), and Decentralized Exchanges (DEX). The laboratory, open to collaboration with any organization and any sector, has already received various flexible commitments from global actors in the public and private sectors.

According to Verum Capital CEO Matthias Weissl: “Verum Capital has worked closely with Concordium since its inception. The network offers huge benefits for applications that require identity verification and KYC processes. In the DeFi space, we are seeing more and more legitimate protocols requiring it. Our business creation team is currently working with clients in the DeFi space and the traditional industry to bring the benefits of DeFi to their users. The DeFi Lab represents a unique moment in the evolution of the DeFi space, bringing together powerful technology, in-depth knowledge and experience, with strong teams who have strong ideas to drive adoption and make the space more accessible.

According to Concordium CEO Lone Fønss Schrøder: “Concordium is the first blockchain in the world to have a built-in identity layer at the protocol level. As such, it is uniquely positioned to bolster regulatory-approved applications and solutions for corporate clients. Our particular interest in bridging the gap between the DeFi space and regulated financial solutions will meet in the (REG) DeFi Lab. With the support of Verum Capital, which has experience in carrying out projects with client companies from all sectors and in creating new solutions for the DeFi space, we are convinced that the laboratory will be a step towards a fully inclusive financial future.

Launch of (Reg) DeFi Lab:

A framework for project proposal and grant application will be made available in the near future. Concordium has allocated up to $ 100 million in Concordium’s cryptocurrency, the CCD, to fund successful grant projects, is our pledge. It will also provide exclusive access to technology and resources.

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