Bankless AMA w/ Monolith Co-Founder Mel Gelderman
Nov 27, 2020
Mel Gelderman, Co-founder and CEO of Monolith, shares insights on creating a bankless Visa card integrated with DeFi. He discusses the merging of traditional banking and decentralized finance, emphasizing user empowerment for everyday transactions. The conversation delves into overcoming challenges in integrating crypto with banking systems, while exploring the TKN token's role and future visions for Monolith. Gelderman likens Ethereum to a modern monolith, highlighting its potential to revolutionize governance and finance.
AI Snips
Chapters
Transcript
Episode notes
Early Bitcoin Life
- Mel Gelderman, inspired by Bitcoin's anti-establishment nature, closed his bank accounts in 2013.
- He traveled and lived solely on Bitcoin, experiencing firsthand the challenges of early cryptocurrency adoption.
Bridging Worlds
- Monolith bridges the gap between the old and new financial worlds.
- It offers a smart contract wallet with a Visa card, allowing users to spend crypto in everyday life.
Bridging Challenges
- Building a bridge between a smart contract wallet and a Visa card is technically challenging.
- Monolith navigates regulations and KYC/AML requirements, acting like a challenger bank.