Ideas are just the start. Next it’s time to build.
The one with the name
First step: What are we going to call this?
We had a lengthy whiteboard session, coming up with names like “Coinnection.” But we crossed it off, because we thought it sounded a little scammy in those days. Then “Daninace” came to mind—short for “decentralized finance.” But that was too similar to Binance.
A couple of hours later, we settled on a name that doesn’t sound like a scam or plagiarism. We decided on… Dbank.
Well, this name matches our vision which is to become a decentralized bank—the JP Morgan Chase of the crypto world.
But it wasn’t our name for long.
We soon discovered the state requires a banking license for any business whose name includes “bank” or “banq.”
Back to the drawing board.
We revisited the word “Daniance” since we wanted to connect to “decentralized finance.”
Then came a light bulb moment: What if we just take the first two syllables of the words and add an “er”?
It sounds less awkward and can describe the people doing this. Plus, “define” represents that which we wish to do in this industry.
It sounds revolutionary.
It was the birth of our name, DeFiner.