Wellfield builds critical technology & apps that unlock the power of Decentralized Finance (DeFi). Just like the internet in its early days, Decentralized Finance (DeFi) has large infrastructure gaps. In the early 2000s when Netflix had a vision to stream high resolution video to our phones, the best the internet could support was online ordering for DVDs by mail. DeFi is still in its “shipping DVDs in the mail” phase. Wellfield builds deep technology to accelerate the evolution of DeFi through its “Seamless” brand. The Company develops applications that focus on making DeFi work for our everyday financial lives through its “MoneyClip’ brand.
The Internet has completely changed the way we live and it has disrupted almost every industry in the world by removing the middleman and connecting businesses and consumers directly to each other. Uber used the Internet to replace taxis. Nexflix leveraged the internet to kill Blockbuster. And Amazon completely rewrote retail commerce, leaving big box retailers like Sears behind. But the internet by itself can’t remove the middleman when it comes to banking & finance. The internet has enabled digital payments, but digital payments are still controlled by the same institutions that existed before the internet.
Decentralized Finance (DeFi) combines the power of the Internet + Blockchain to completely reinvent the way people use money and get access to local and global banking, without a middleman. DeFi is in the process of reshaping the world’s financial systems, but just like the evolution of the internet, new infrastructure needs to be built out to make the future a reality. DeFi is an exciting space right now because it is in a hyper growth phase, currently dominated by new and emerging deep technology startups, not traditional financial institutions and FAANG stocks.
Wellfield places a strong focus on research and has an impressive team of PhDs and academics with expertise in various computer science disciplines. To date peers in the space with deep technology have raised funds through venture capital or token sales.WFLD is uniquely positioned as a public company (listed on the TSXV) developing smart contracts and other DeFi protocols directly on top of public blockchains like Bitcoin and Ethereum. The Seamless brand has been quietly working on its technology since early 2018 and will be launching 3 unique and exciting protocols in 2022. MoneyClip has been developing its app since 2019. They have launched a beta version in the Google Play and iOS App stores in Q3 2021 and have a large roadmap of new features to roll out over the next year.