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Watch > Episode > Michael Kong - DeFi & The Blockchain - Why Scalability Is Key To Future Ecosystem Growth

Michael Kong - DeFi & The Blockchain - Why Scalability Is Key To Future Ecosystem Growth


CEO of Fantom

One common thread that knits together each of our interviewees these last few months is this idea of finding a better way. Finding solutions for a more inclusive and prosperous society that favours the many and not just the few.

The world is constantly evolving, change is happening all around us and opportunity lies in wait around every corner. Decentralised Finance represents to me, The Greatest Dislocation of Wealth in Human History and it is something you have the opportunity to be a part of.

Today’s guest is a man who understands the potential of DeFi and alongside a committed team of developers is playing the long game, proving that patience really is a virtue.

Michael Kong is an entrepreneur, technologist, former software engineer and blockchain visionary. He is also the CEO of Fantom, the leading smart contract platform that is overcoming the limitations we’ve become accustomed to in previous generations.

Michael is a man who has covered a lot of ground in the short time since graduating from the University of Sydney. He’s worked for a range of startups and crypto-related companies before he spent time working at Sydney-based blockchain firm BLOCK8. It was here while he developed a new wave of applications that he first began to consider starting his own cryptocurrency hedge fund.

Of course, the path to success is never without obstacles, and Michael’s vision and enterprise would take a little more time to reveal itself. Through contacts in a growing circle of ambitious investors and experts, Michael got involved with a team based in Korea that wanted to build a platform capable of competing with and eventually outshining Ethereum. That project brings us to the here and now and the hugely prosperous Fantom Foundation.

On becoming CEO of Fantom, Michael has ensured the focus has remained very much on development and building lasting solutions to long term problems. Speed, Scalability and Security – that technologically terrifying trio that has called halt to many a preceding protocol has dominated Michael’s waking and working hours.

Fantom is and has been quietly making all the right noises and people are certainly starting to sit up and take notice. Unlike other solutions, Fantom does not sacrifice security and decentralisation in favour of scalability. The advantages brought by Fantom are not merely pure performance – its modular architecture allows for full customisation of blockchains for digital assets, with different characteristics tailored to their use-case.

It may seem like a war is being waged as the battle to become the blockchain de facto piques the interest of the headline makers, but as Michael so shrewdly points out, at the end of the day, there’s not going to be just a single blockchain or a single smart contract computer, rather, there will be multiple layer 1’s providing a service.

“We all want the fastest growing platform, however, we’re not competitors in the sense that a lot of users don’t just use one type of chain – they switch between them, depending on the opportunities they see.”

Michael Kong is humble and ambitious in equal measure. What he and the rest of the team at Fantom have achieved so far is very impressive, yet in many ways they have flown under the radar. Mainstream adoption is the key to a diverse and thriving ecosystem, and Fantom believe they’re ahead of the curve.

Now is the time to act, to investigate, to read and learn about how decentralised finance and cryptocurrency can help shape a better future for you and your family.

The DeFi Academy Accelerator program will help you understand the complexities and nuances of the crypto market and exactly what decentralised finance is going to mean for you and billions of people around the world.

My team and I are going all in and plan on spending the next 10 years teaching, understanding, investing in and profiting from this exciting new marketplace.

Lock in your spot now by applying to be part of The Greatest Dislocation of Wealth in Human History, and let me know why you should be included in this incredible program.

Will you finally create that generational wealth that you’ve struggled to build your whole life or will you let another of life’s chances pass you by? This is the opportunity you’ve been waiting for!

Download clips

A number of clips from this exclusive interview are now available to download, share and repost. Spread the word: grab these clips today!

  1. How did Fantom start?
  2. The blockchain is a bet against governments
  3. The problem with fiat currencies
  4. Crypto is still a tiny fraction of the economy
  5. Why Fantom is faster and cheaper than Ethereum
  6. Asynchronous technology explained
  7. What will happen to Ethereum in the future
  8. It’s hard for Ethereum to transition to proof-of-stake
  9. User experience is king
  10. Insurance on the blockchain
  11. The most scalable, efficient and secure system will wina
  12. Scalability is key for Ethereum
  13. I’m very bullish on blockchain technology
  14. NFTs are evolving into something different
  15. We need a P2P metaverse
  16. Blockchain will solve censorship and deplatforming
  17. Social media platforms are just publishers
  18. Let the man speak
  19. Thoughts on Australia’s policies during the pandemic
  20. Fantom is all about mainstream adoption


00:00 | Trailer.
02:45 | Brian’s introduction.
04:00 | Michael Kong’s crazy journey since 2018.
08:51 | How Michael made it through the tough times.
11:47 | Freedom from Government control offered by crypto currencies.
21:27 | The problem with gas fees and Ethereum.
26:57 | Michael’s train analogy for asynchronous vs synchronous technology.
33:33 | What Michael Kong sees for the future of Ethereum.
37:34 | Does Michael agree with Justin Sun who says let Ethereum just deal with proof of work and let us deal with proof of stake?
42:09 | The benefits of blockchain transparency and Fantom’s user experience.
49:21 | The evolution of DeFi through efficiencies and speed.
56:34 | On what criteria should Michael’s layer one peers be judged and what makes Fantom different?
1:05:01 | It’s a race against time to keep ahead in technology development.
1:10:52 | Michael Kong’s views on NFTs and their resistance to censorship.
1:20:02 | Will people be plugging into NFTs on Fantom in the future?
1:23:06 | Michael’s thoughts and reservations about the Metaverse.
1:27:28 | Tech censorship is a big problem.
1:49:06 | Why Michael left Australia to live in the Bahamas.
1:56:06 | Michaels challenges for 2022.
1:59:26 | Best methods of contact for Fantom.
2:00:50 | Michael’s final thoughts and Brian’s summing up.


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