Greg Osuri, CEO of Akash on why DeFi needs a Decentralized Internet to succeed
The recent outage of Amazon Web Services temporarily disrupted a few popular decentralized finance applications. Critics were quick to point out the obvious contradiction: A Vox Media headline read “Amazon’s server outage took down a ‘decentralized’ crypto exchange” adding “how decentralized is decentralized finance? It’s a valid question. Decentralized Finance still by and large runs on Centralized Clouds.
Greg Osuri, CEO of Akash Network, wants to change that. Akash Network is an open-source decentralized cloud that provides fast, efficient, and low-cost application deployment. Decentralized clouds harness latent computing power sitting idle in data centres and elsewhere and stitch them together into one common network. Basically Akash provides a way to run decentralized applications without relying on Amazon, Google or some other behemoth.
We often think of crypto as disrupting finance, art and other asset-based industries. Perhaps we should be thinking bigger. DeFi may turn out to be one subsector of the decentralized internet Akash and others are trying to build.
On this episode of DeFi Decoded, Andrew and Alex ask Greg some important questions, including: What problems does a decentralized cloud solve? Who are the biggest users? Can decentralized clouds scale? How long until Fortune 50 companies are migrating to decentralized cloud? What are the implementation challenges? And much more.