The Millennials, the first digital natives, now the primary generation represented in the U.S. workforce, are engaged in extensive millennial disruption, reshaping the business to fit their desire for autonomy, independence, and personalization.
Moreover, this millennial demand for personalized and seamless experiences in the different facets of their life is also driving innovation in personal finance, including a shift to blockchain and cryptocurrency. In fact, the majority of Millennials hate the banking system as it exists today. A survey by Scratch, a unit of the media conglomerate Viacom, found that a third of millennials say they won't need a bank in the future.
As economist Joe Gagnon and generational research pioneer Jason Dorsey state in a co-study, "Millennials, mobile technology, and social media are converging to transform drastically customer service as we know it. This new generation will not tolerate waiting in lines, repeating their problem to five different people, or being treated like a number. Companies that do not adapt risk obsolescence, as Millennials become an economic powerhouse."
The millennial perspective is, "We want products/services that give us, rather than brokers and middlemen, the ultimate say in how we handle our money… we are demanding even more self-sufficiency in the financial sphere, and using revolutionary technologies such as cryptocurrencies to get it.”
Confirming this trend, the World Economic Forum said, in a recent annual meeting in Davos, Switzerland, that distributed ledger blockchain technology represents an $867 trillion opportunity in the finance world.
As anticipated, the Millennials are inexorably moving toward Decentralized Finance (DeFi), an emerging market that excludes financial companies and governments and functions through cryptocurrencies.
This is where Hatom, a company that recognizes the millennial demand for eliminating the middleman in financial interactions, finds its own niche.
Hatom Co-CEO and COO Ahmed Serghini, an entrepreneur and crypto enthusiast who has more than ten years of blockchain technology experience, said, “I believe that lending is the future of Defi, and Defi is the future of finance. Hopefully, Hatom will be at its forefront.”
In his statement Ahmed highlighted that currently, DeFi and lending protocols are considered exclusive to those who understand the world of blockchain and cryptocurrency. Consequently, the technologies are veiled in mystery. However, that should not be the case. Hatom’s mission is educating the public on DeFi and lending protocols and, more importantly, mainstreaming these currently exclusive services so they will be available to regular people.
Furthermore, Elrond stands out from other existing blockchains thanks to the blockchain and cryptocurrency expertise of its top team members. In Ahmed's words, "I am an early investor in the Elrond Blockchain and a daily user of Defi applications in general. I was surprised to see that the Elrond Blockchain doesn’t have any lending protocol.”
According to Elrond founder & CEO Beniamin Mincu, the blockchain aims to build the backbone for high bandwidth, low latency, transparent, decentralized financial system and make it accessible to anyone, anywhere in the world. It also aims to offer fast transaction speeds using sharding, which will offer the instant service millennial customers eagerly desire.
The Hatom platform users will benefit from the same advantages of speed, convenience, security, and ease of use, allowing them to lend, borrow, and stake their crypto assets securely. Lenders will be able to easily provide liquidity to the market and earn interest on their deposits, while borrowers can promptly obtain collateralized loans.
Ahmed explained, “The Hatom protocol is designed for ease of use and security. It will be constantly monitored and audited, and it will rightfully claim to be the most secure lending platform available on the market.”
Moreover, in line with its mission of mainstreaming currently exclusive crypto services, Hatom is planning to introduce a staking platform following its launch, where a percentage of its lending network earnings will be shared among users who are staking their Hatom tokens in a specific staking yield. This will allow users to earn a passive income in the same way company shareholders do.
Hatom's next milestone, according to their roadmap, will be to launch a treasury program in which users will be able to deposit fiat cash and receive interest without having to deal with the complexities of cryptocurrency. Furthermore, as Ahmed explains, Hatom will introduce pegged tokens like Ethereum (ETH), Bitcoin (BTC), and DAI, whose price is designed to remain the same as the designated asset.
Hatom’s leadership envisions expanding its field of activity in the DeFi space by establishing the "Hatom bridge," where users would utilize atomic exchange technology. This means that users of various blockchains will be able to swap cryptocurrencies risk-free by using the platform. Currency swaps will be completed without the intervention of an intermediary, giving token owners complete control over the transaction. This is considered as an essential step toward reaching Hatom's objective of popularizing and mainstreaming DeFi.
Ahmed Stated, “Hatom’s vision is to expand the protocol’s field of activity and add EVM-compatible blockchains such as Polygon, Avalanche, and Binance Smart Chain by 2024. We plan to cross-chain the Hatom Protocol with a growing number of networks in the foreseeable future.”
In a nutshell, Hatom’s leadership their platform to become a star attraction in the crypto world shortly because of its user-friendliness, diversified services, and features, as well as its speed and accuracy in execution.
As Oussa Guennouni, CO-CEO & Chief Marketing Officer at Hatom Labs, said, “Every detail matters to us, and our mission is to provide our users with an unparalleled experience.”