How This DeFi Platform Plans to Overhaul Traditional Finance

Piers Ridyard is the CEO of RDX Works. He sat down with Jessica Abo to talk about the public decentralized ledger core developer Radix.

Jessica Abo: Piers, for those who are unfamiliar, can you start by telling us about RDX Works and what you do?

Piers Ridyard:

RDX Works is a core developer of a public ledger, like Ethereum or Bitcoin or Solana. Ours is called Radix, and it’s a public ledger entirely focused on decentralized finance (DeFi).

Decentralized finance is basically building financial products and applications on top of a piece of decentralized infrastructure (blockchain) that is designed to make it easy for people to create things like assets and services, in a way that is more digital-first than the current financial system we have today.

And so, if you’ve ever heard about things like Ethereum – platforms that allow you to build solutions like decentralized exchanges, decentralized money markets, or decentralized financial products – that make it easy for people to do investing, saving, and trading.

It’s basically a new area of technology. In the same way the internet was a new area of technology back in the 1980s and 1990s, that’s what we’re seeing today – this new, revolutionary system that allows you to replace the current financial systems like banks, and create a new way of allowing people to build.

Why should we care about all of this?

The way that I often think about the current financial system is, it’s a little bit like an archipelago of badly…