Piers Ridyard, CEO of Radix DLT, on The Future of Web3, Wallets, Account Abstraction, and Creating the Game Engine for DeFi | Ep. 315

cryptonews.com:

In an insightful interview, Piers Ridyard, CEO of the decentralized network Radix DLT, discussed his “wild ride” through the worlds of smart contracts and Y Combinator.

Chatting with Cryptonews Podcast host Matt Zahab, the CEO talked about finding Ethereum, mining on its genesis block, selling ETH, and getting into Radix.

Ridyard told us about the project’s key principles, and how it goes above and beyond to keep users’ funds safe.

In this interview, Ridyard discussed:

Piers Ridyard gave a wide-ranging exclusive interview, which you can watch above – or you can read a part of it below.

Ridyard started the interview with his background. Notably, he described his experience with Y Combinator as “a wild ride.”

First, he entered the Ethereum community very early and got very interested in smart contracts.

At the time, smart contracts were a new thing in the space, and everybody wondered what they could create. Ridyard finds that most of these ideas will come true, it’s just a matter of timing.

But he had something specific in mind:

“One of the things that I thought – it was an obvious use case for smart contracts – was insurance.”

Ridyard started “playing around” with this idea of automatic insurance. Having no knowledge about insurance, he first reached out to “a bunch of” insurance companies to understand their problem set.

He talked to them about blockchain, and they told him about insurance. “So I ended up speaking with a bunch of the senior people in some of the biggest insurance companies in London.”

However, the crypto sector was very different at the time and was ultimately not equipped to facilitate automatic insurance. Specifically, there were no stablecoins.

They could only use ETH as collateral, and that wouldn’t work, he