cmorq is a consumer DeFi platform that is working to level the financial playing field for everyone. Its mission is to make decentralized finance available and accessible to all. The CEO of cmorq is former Google senior research scientist and Co-Founder and Chief Data Scientist at Clarity Money, Hossein Azari.
Though the world of cryptocurrency can be somewhat confusing, especially to those just testing out the waters, Azari believes that decentralized tech is the way of the future, and the sooner you can join in, the better. Moreover, that you should get in on crypto assets however you can, even if you’re starting out with small investments.
“With decentralized finance we remove/reduce dependency on centralized and legacy financial systems, modernizing ourselves to continue economic leadership,” explains Azari in a recent piece on the future of cryptocurrency. In other words, you can be your own bank, while avoiding middlemen and fees, and keeping all the gains.
He notes that the pandemic highlighted the inefficiencies of our current financial system when it came to the government sending out stimulus funds to those in desperate need of them. Particularly small businesses.
When it comes to other applicable practices, the food we consume and how we purchase it can also play a roll in the DeFi space.
“I think as the DeFi space evolves, you will be able to own NFTs and Digital assets representing the food you consume. These assets both represent quality and source of the food, as well as a marketing mechanism that distributes value created to benefit the consumer as well,” Azari says.
“There are many food themed tokens, many restaurant chains have plans to accept Bitcoin as payment, and blockchain is being used to cure supply chain hiccups to improve food safety and freshness.”
Making simple life choices like spending less on food, which often times ends up going to waste, can help you attain the money you need to invest smartly. Rather than wasting money on excess food, manage your food costs, and instead invest the rest in strategic crypto investments.
We chatted with Hossein Azari, CEO of cmorq, on his advice to those looking to get in to the crypto game; how to find your seed money; and more. Here’s what he had to say.
For Americans who have yet to get into the crypto game, what do you have to say to them?
DeFi is where we exercise and enforce our core rights, e.g. to own a property that is not controlled by a few monopoly-like banks. Crypto assets allow us to also benefit from a growing economy.
For a long time consumers have used products like Amazon, or Facebook, only helping a few people to accumulate billions of dollars. The crypto economy allows you to get in on the ground floor and enjoy the growth as a consumer!
What are your top three tips for getting started in the world of cryptocurrency?
Expect volatility, new innovations have a lot of ups and downs. Understand the risks, and don’t follow the crowd, follow your principles. Think long run and hold, patience is a super power!
What’s the easiest way for the average American to find the money to invest in cryptocurrencies?
We throw a lot of food away. If you’re able to be disciplined and find a way to put $20 aside each week, it may be a high risk but the growth sector has the potential to create a powerful nestegg. Here is some math: $20 a week for 10 years is $10,400 of savings, and if the investment grows 10x over 10 years, you will have $100k out of a simple piggy bank.
Most of the growth industries and markets grow at a high rate, it has risks but when it works you create wealth. Everyone should give it a try, even as small as the money for those berry boxes we buy and throw away because they go bad.
Talk about your company cmorq. What is its goal and what should people be paying attention to what you’re doing?
We want to help bank billions of people. With DeFi we have the capability to provide banking to everyone, as the costs of operating a DeFi bank is substantially smaller. We will also be able to innovate for banking in the digital era using DeFi! Innovating on traditional rails is hard and impossible in some cases.
Given the volatile nature of cryptocurrency, how difficult is it to predict where the world of crypto is going? Where do you stand on crypto within the coming year?
We think decentralization is a trend, not 5 or 10 years, a 100 and 1000 years trend. Going from feudalism to capitalism was a decentralization. More people owning securities in the last hundred years is decentralization and replacing centralized banking is the next phase. It will take a couple of decades but decentralized tech will shape the future! So join however you can and believe that the future is better!