Dan Schatt and Domenic Carosa lead Earnity, a DeFi startup headquartered in San Mateo, California. Earnity aims to build a product that can exist in both worlds—a multi-sig, non-custodial wallet for the cryptocurrency purists and a simple, one-click access point for people just getting started.
Cryptocurrency is a digital or virtual currency. It utilizes cryptography to secure transactions and control the creation of new units. This technology is decentralized and not subject to government or financial institution control.
The Vision Behind Crypto
The first cryptocurrency was created in 2009 by an anonymous person or group of people using the name Satoshi Nakamoto. Bitcoin, the first and most popular cryptocurrency, is used to buy goods and services and store value. Cryptocurrencies are often traded on decentralized exchanges and can also be used to pay for goods and services online.
Cryptocurrency was created because there was a need for an alternate currency that could be used online. This makes crypto ideal for purchasing goods and services, as well as for buying and holding. Bitcoin was the first (and most successful) cryptocurrency, but other cryptocurrencies have been created over time. These include Litecoin, Ethereum, and Bitcoin Cash.
The World of Crypto
While there’s no denying the allure of cryptocurrency, people who are thinking of buying crypto should be aware of the risks involved. Cryptocurrencies are volatile and can fluctuate in price dramatically. Additionally, there is always the risk that the cryptocurrency may become worthless if the company or individual behind it goes bankrupt or fails.
Despite the risks, there is much potential for growth in cryptocurrency, which fintech veterans Dan Schatt and Domenic have foreseen, hence the creation of Earnity. The value of Bitcoin, for example, has increased exponentially over the years. And as more people become interested in cryptocurrency, the value is likely to soar further.