Specifically, the new initiative – dubbed GoodFi alliance – has reportedly been introduced by Radix, with the assistance from blockchain entities, nominally Chainlink, Aave, and mStable, as well as digital analytics firm Messari.
Piers Ridyard, Head of Radix, reportedly remarked that GoodFi enables any firm interacting with DeFi to collectively work to tackle the challenges “facing a wider base, starting with the generally “crypto-engaged” but building to a mainstream audience.”
Being a part of GoodFi, establishments will reportedly be open to strategies and communal knowledge sharing, to get new people into DeFi.
Their primary goal is reportedly to attract 100 million individuals to invest a minimum of $1 into DeFi applications by 2025.
To reach this target, the alliance has reportedly selected education to focus on, in a bid to increase awareness of the utility behind DeFi applications.
“The key resource here is not money, but time. Specifically, the time of the people who are in the best place to help the DeFi industry both understand the target customer better, and expand our addressable market by helping a broader audience understand why DeFi is both good and important to get involved with.”
DeFi was reportedly among the top crypto incredible growth cases of 2020, with nominal initiatives such as Chainlink and Aave spearheading the charge.