[Definitive Edition] Deobank Concept to Save 1.4 Billion People: Reeve Collins Exclusive Interview

"I want to save the 1.4 billion people who don't have bank accounts." Reeve Collins, who leads WeFi, began to speak in a quiet but powerful tone.

Why is he, who once co-founded Tether and introduced the world's first stablecoin, now tackling the new challenge of "Deobank" (Decentralized Bank)? Behind this was a deep insight into the existing financial system and an unwavering conviction in blockchain technology.

In this interview, he told us everything from the secret story of the birth of stablecoins to the true meaning of "financial inclusion" that WeFi aims for.

Q: You are known as the co-founder of Tether. Why did you launch WeFi now?

Reeve: Tether was the first step of "digitizing the dollar." It was successful, but still insufficient. Even if people have digitized dollars, they don't have a "bank" to safely store, grow, and freely use them. This is especially true in developing countries. That's why I was convinced that "decentralization of banking" was necessary next.

Q: How is Deobank (Decentralized Bank) different from traditional banks?

Reeve: The biggest difference is "sovereignty." In traditional banks, your money becomes part of the bank's balance sheet. If the bank fails, your money is also at risk. But with Deobank, assets are always under your control. Smart contracts manage them, and no one can freeze or confiscate them without permission. Yet, you can enjoy the convenience of a bank, such as transfers and payments.

Q: Please tell us about the mission to "save 1.4 billion people."

Reeve: There are 1.4 billion people in the world who cannot have bank accounts. They are excluded from the financial system and deprived of the chance to escape poverty. With WeFi, anyone can access global financial services with just a smartphone. I believe this is not just a business, but a human rights issue.

Q: Finally, what is WeFi's future vision?

Reeve: We are seriously trying to realize the "democratization" of finance. In a few years, WeFi will change the definition of the word "bank." A world where everyone has an equal chance. That is the goal I aim for.