How Cryptocurrency Loans Work with Zac Prince, CEO of BlockFi

Sign up for our newsletter at https://Evolvement.io. Evolvement is a podcast hosted by Nye that revolves around Bitcoin, cryptocurrency, blockchain technology, and how these play a role in the current financial models and economic systems of the world. In this episode, I sat down with Zac Prince, CEO of BlockFi, to discuss the importance of cryptocurrency loans. We talk a bit about how the process of loaning Bitcoin, Litecoin, and Ethereum works and why it is important to the space. We discuss a bit about taxes when loaning Bitcoin and how the value of these cryptocurrency loans are calculated. Zac and I also discuss a bit about why someone would choose crypto loans over traditional loans. You can learn more about BlockFi at https://blockfi.com/. Blockfi Timestamps 1:45 - What is your background and how did you get started in crypto? 4:50 - What need did you see in the crypto space that lead you to starting BlockFi? 7:00 - How does crypto lending work? 11:00 - How Blockfi works with taxes? 12:30 - Why is crypto lend relevant and important to the whole space? 15:10 - Why would I choose using crypto loans over traditional loans? 17:10 - How do you calculate the value of loans and how do you hedge? 19:18 - How are you integrating into major exchanges? 21:10 - What happens when people default on their loans? 23:42 - What do you think the future holds for crypto loans? 26:00 - What differentiates BlockFi from your competitors?