I have six children and I was shocked to find out that they did not know about ways to earn interest and ways to have your money work for you. Tell us about how you came up with the idea for Celsius. My view is that the most critical next step to the viability of the blockchain as a replacement to the existing banking system is to scale its user base and create more universally beneficial applications for users. We want to find the best way to add the next 100M crypto users to the market, and we came to the conclusion that offering coin holders 5-7% in interest on their coins would be the best way to get there. The world needs banking but it does not need banks We decided to build Celsius using blockchain to leverage the technology’s global presence and decentralized design to extract the bank’s profits and distribute them to our members. It has the potential to spur a new financial revolution from which they cannot adjust. The blockchain is the first real technology threat that the large banks have faced for the past 100 years. First off, why did you decide to use the blockchain to build Celsius?
Celsius enables any coin holder at any corner of the globe to earn real interest on their crypto coin and have a chance at financial independence. Celsius is my way of giving back and creating an opportunity for people all over the world.
I am an immigrant who was lucky enough to come to the US and start seven different venture-backed companies. Can you tell us more about yourself and Celsius? We recently sat down with Alex Mashinsky, the CEO of Celsius to have a chat about the project as well as to find out his thoughts and insights. Celsius aims to deliver the best options for both lenders and borrowers by promising attractive interest rates. Its main goal is to create a modern P2P platform for coin lending (and borrowing) while developing a future-proof protocol for the upcoming generation of financial services.
Instead of being a centralized platform, Celsius will be powered by a global community of members. Celsius is a peer-to-peer (P2P) and blockchain-powered global lending and borrowing network designed to enable coin holders to earn interest.
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