Article To the Moon! Harnessing the Power of Web3 for Financial Inclusion


July 20, 2023


Simran Jagdev & Sharmeen Shehabuddin

To the Moon! Harnessing the Power of Web3 for Financial Inclusion

Moon's goal is to develop web3 products that even individuals without extensive technical expertise can use with confidence and ease.

Tarik's thumbnail

Reading time

3 min.

Tarik Moon, the visionary founder of Affine Protocol and CEO of Multiplier, says he has always wanted to “build something." This simple yet potent impetus, like Tarik’s own journey, transcends cultural and geographical boundaries and invites all those driven by curiosity and determination to embark on the transformative path of becoming web3 builders.

Whether through his experiences as a math Olympiad champion in Bangladesh or as an undergraduate student at Harvard University, Tarik has a deep understanding of the potential of computer science and mathematics to catalyze financial inclusion. This democratization of finance enabled by technology and communities alike holds profound implications, particularly for regions marked by capital controls and inefficiencies. 

With the advent of web3 and DeFi, Tarik's vision is morphing into reality, empowering individuals to take ownership of their assets and engage in transactions without barriers or intermediaries. According to Tarik, "In a country like Bangladesh... web3, decentralized finance, and similar products can make a tremendous difference." This is the remarkable promise of web3: the power to dissolve financial borders, acting as a shield against inequality, inflation, and economic instability.

arrow-bottom-right icon Video Tarik talking about the transformative power of web3

Tarik's vision extends beyond addressing current financial challenges. Drawing from his experiences at Goldman Sachs and his successes as an entrepreneur, he aspires to leverage the power of web3 to enable people to save more effectively. His aim is to bring the best practices of traditional finance to the decentralized landscape and make money a truly productive tool for a wider range of people.

Web3 builders like Tarik are always looking to enhance the web3 user experience and address the current limitations of the technology. Their goal is to develop products that even individuals without extensive technical expertise can use with confidence and ease. Affine is a result of this goal. The protocol allows users to invest across multiple chains, without having to interact with each of those chains separately. Instead, users choose to invest in four baskets, which are different digital assets clubbed together on the basis of investment strategies. It simplifies user experience by providing advantages of a diversified portfolio along with the ease of holding a single asset. 

Central to Tarik's philosophy is the notion that technology should never own your money. Rather, it should serve as a facilitator, empowering you to exercise control over your assets. In Tarik’s words, "YOU own your money." 

To illustrate the juxtaposition between traditional finance and decentralized finance, Tarik shares a powerful story about a South African community burdened with an exorbitant interest rate of 19,000%. Contrasting this with the potential of web3, where assets like Bitcoin or Ethereum can be collateralized for a loan in seconds at a rate under 2%, Tarik emphasizes, "We want to ensure that people can access capital in a significantly more efficient way." 

A final nugget of wisdom from Tarik beautifully encapsulates this ethos: "Web3 is the answer to the call for financial inclusion, the solution for all the underserved communities worldwide who were never given a chance before. We are building a new world where financial barriers no longer define our possibilities." 

Each one of us has a role to play in this transformative journey. Embrace your potential, step into the realm of web3, and start building today.