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Startup Spotlight: Abyiss

Easy Decentralized Finance Through Abyiss

In the fast paced world of cryptocurrency, Drew is the Co-Founder, CEO and the driving force behind Abyiss. He brings a passion for first principles thinking and a commitment to constant innovation, aiming to shape a better future through decentralized finance. Abyiss, and Drew, is dedicated to simplifying the engagement with crypto by providing foundational products and user-friendly infrastructure.

Abyiss's impact is evident in its development of a robust data pipeline, aggregating information from over 100 cryptocurrency exchanges and tracking 10,000+ digital assets. Drew’s mission with Abyiss goes beyond financial success and aims to adjust the growth of wealth by leveraging cryptocurrency, technology, and education. With a diverse team and a commitment to inclusion, Abyiss is at the forefront of reshaping the crypto ecosystem, making it accessible to all.

RIHub's Questions with Drew:

1. What inspired you to venture into the world of cryptocurrency and decentralized finance?

Since a young age, I have always been interested in how money works. This has been a gradual journey for me that originally started in the stock market when I was 16. Around this time in 2017 I discovered cryptocurrency through my high school math teacher. Not understanding anything about it I naturally bought a little bit of Bitcoin and completely forgot.

Fast forward to 2020, my cofounder Zach and I wanted to make money in our sleep, so naturally we delved into algorithmic stock trading. This unfortunately proved to be more difficult than anticipated but through this journey I rediscovered cryptocurrency and decentralized finance (DeFi).

This rediscovery marked a turning point for me, as it became clear that DeFi was the next iteration of the financial system. The decentralized and borderless nature of cryptocurrencies, coupled with innovative technology resonated with me immensely. Since this point I haven’t turned back.

2. How does Abyiss differentiate itself in the competitive market?

At Abyiss, we differentiate ourselves in a variety of ways. At the core of our business is a commitment to our customers which helps distinguish us from the competition. Furthermore, our emphasis on innovation is evident in our latest products, which adopt a cutting-edge and forward-thinking design.

We leverage open-source libraries, demonstrating our dedication to transparency and collaboration within the tech community. Collaborating with industry leaders is another key aspect of our strategy, as we partner with the best in the field to ensure the highest quality products.

A unique strength of Abyiss lies in our ability to seamlessly blend technology from both traditional finance and decentralized finance. This hybrid approach allows us to provide comprehensive solutions that cater to a diverse range of user needs. In line with the growing prominence of decentralized finance, we prioritize the integration of DeFi principles across all our products, staying at the forefront of industry trends.

Crucially, we attribute much of our success to actively listening to our customers. By understanding their needs and preferences, we continuously adapt and enhance our products and services.

3. How does the importance of technology and education contribute to this widespread cryptocurrency adoption?

Technology and education are the biggest problems preventing the widespread adoption of cryptocurrencies. Right now, the technology is too hard to use, making it impossible to incorporate into your daily life. The technology should be intuitive and simple but unfortunately it is the opposite of that.

When it comes to education the average person doesn’t know what cryptocurrency is or thinks it’s a scam. This boils down to a serious lack of education on both the tech side and the innovations driving cryptocurrency.

I firmly believe that the key to fostering widespread adoption lies in the intersection of two crucial elements: a simplified and intuitive interface and a fundamental understanding of cryptocurrency. With both of these combined I believe we will see a widespread adoption of cryptocurrencies and blockchain technology in our lifetime.

4. How does Abyiss stay ahead of the curve in terms of innovation?

We stay ahead of the curve in terms of innovation by putting in hours of work and research. We engage in conversations with people both inside and outside the industry. We take in as many diverse perspectives as possible and try to find the commonalities or patterns between them.

We also immerse ourselves in the technology. By using the tech firsthand, we spot the shortcomings that others might miss. It's a hands-on approach that keeps us ahead of the curve in the fast-paced world of innovation.

Posted in Invention, RIHub News, Start-Ups, Uncategorized

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