Connect with us


Sergej Heck Disrupts the Classical Finance Industry with Decentralized Finance App

Sergej Heck

Centralized finance has long been a mainstay in the economic world. At its core, centralized finance simply refers to the concentration of planning and decision-making to a central location or institute. For example, the U.S. first opened the Bank of North America in 1782. This bank was referred to as the father of the credit system and paper circulation. Yet, the Bank of North America never became the nation’s central bank due to pushback over concerns that it would favor foreigners and enact unfair policies against state banks.

Now, the U.S.’s central banking system is the Federal Reserve, which is responsible for printing money, regulating supply, maintaining financial stability, managing inflation, and more. Unfortunately, many have criticized the Fed since its inception in 1913. Some criticized it for its lack of transparency, contribution to over-inflation, and overall poor performance. Economists such as Milton Friedman and Anna Schwartz believe that the Fed helped worsen The Great Depression by contracting monetary supply and not saving struggling banks.

Even now, many people debate if The Fed properly handled the coronavirus outbreak.

The Power of Decentralized Finance

Centralized finance has its advantages, but many believe it also contributes to wealth inequality. Those who live in underbanked areas don’t have the same access to capital as everyone else and are thus left out of the world of wealth building.

Decentralized finance systems have no central means of control, making it harder for fraud and manipulation. If a bank goes out of business or commits fraud, all of its customers will be at risk. The same isn’t possible for a decentralized system since the power doesn’t lie in the hands of one entity. Thanks to technology, cellphones, digital banking, cryptocurrency, and blockchain, more people have access to finance than ever before.

Decentralized finance aims to bring investing, lending, borrowing, insurance, asset storage, and other transactions to those who traditionally never had access to it.

Sergej Heck, DeFi Revolutionary

Entrepreneur Sergej Heck is one of the voices leading the decentralized currency revolution. He released the PeakDeFi app which will give users the ability to lend, borrow, store, and send cryptocurrency.  

“This app was made to make getting into cryptocurrency and decentralized finance easy for anyone,” said Heck. “We pride ourselves on its usability. Anyone can create a cryptocurrency wallet in under a minute. That’s all it takes to gain a foothold in the crypto world.”

PeakDeFi makes it easy for users to view their cryptocurrency collection, find out information on tokens, and buy or exchange their coins. The app’s simple and effective design provides a world of information at each user’s fingertips.

Perhaps the app’s most important feature is its security. Wallet owners are the only ones who can access their cryptocurrency; everyone else is completely shut out. PeakDeFi stores private keys in a secure wallet in the user’s device, ensuring outsiders can’t break into it. Plus, the app itself requires authentication so that thieves can’t break in even if they stole the user’s phone. 

PeakDeFi was so popular that it amassed 1,250 iOS downloads within its first week. Plus, it received 1,000 downloads for Android two days after release. 

The Future of DeFi

According to Heck, the app is part of a much bigger movement: the shift from classic finance to decentralized currency.

“Many people are moving away from traditional finance and the stock market,” said Heck. “After all, we just saw a dramatic crash and a quick reversal. The stock market had some of its best days ever even when people were losing their jobs.”

Heck noted that the government can manipulate traditional money however they see fit. They can print money at will, which inflates stock prices but devalues the dollar. The inflation rate means that any money kept in the bank will lose value over the course of someone’s lifetime. 

“We’re on the verge of something spectacular,” said Heck. “Decentralized finance is still in its infancy, but will soon become a major competitor to the classic finance industry. It might seem like a niche now, but will become a behemoth in no time.”

Patrick W. Dunne is a freelance writer and the Head Journalist for Unstoppable Branding Agency, a PR & media firm that covers disruptive stories of experts, authors, and speakers.

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

tezos and NFT tezos and NFT
NFT2 weeks ago

Beginners guide to NFTs: What are non-fungible tokens?

You have probably heard the word NFT hundreds of times so far. At first glance, you thought it only had...

Sports + Gaming2 months ago

What Motorcycles Are Good For Long Trips?

Motorcycles are all about freedom. But the question is: how often do we really go out there and enjoy the...

Executive Voice2 months ago

3 Ways Maternal Instincts Give Women In Leadership An Advantage

As the landscape of gender roles continues to be redefined, these 3 experts agree that their maternal instincts provide an...

Executive Voice3 months ago

The Queen of Title: How Powerplayer Rachel Luna is Disrupting the Title Industry Through a Modern Approach

Rachel Luna has made quite the name for herself within Texas’s title real estate business as the Title Queen and...

Executive Voice3 months ago

Nancy Almodovar: The Latina CEO Who is Disrupting the Status Quo of the Luxury Real Estate Market

It comes as no surprise that Nancy Almodovar, the CEO and founder of Nan and Company Properties, is one of...

Business3 months ago

How To Nurture Talent Within Your Business

Your business can only succeed with talented workers on the payroll. Luck and even strong economic conditions will only get...

NFT3 months ago

Solana’s value plummets below $98 due to a Wormhole Exploit

Many people thought blockchain technology was robust, secure, and virtually “unhackable.” However, the crypto world has faced several hacking incidents...

NFT4 months ago

Polly Kole, The Beauty With Gifted Hands Tycoon Of NFT Sculptures

In a society full of stereotypes, people clinging to appearance and disregarding one’s achievements is the magnificent Polly Kole stunning...

gold and black round emblem gold and black round emblem
Cryptocurrency5 months ago

Bitcoin’s Volatility Explained

Since cryptocurrency was introduced in 2009, it has become a very controversial subject for both critics and supporters. One of...

News5 months ago

Spider Man; No Way Home’, Crushes Box Office Estimates Generating A Mammoth $253 Million In North America.

After only 3 days in the cinemas, the latest and last Spidey outing disrupted the international market as the highest-grossing...


Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.