Goldman Sachs has announced they are exploring NFT's- Why? Despite being a playground for collectibles, for some its the logical next step for incumbents.
Security throughout the DeFi lifecycle remains a real challenge to mainstream adoption, and it is key to the market reaching its full potential.
In the long take this week, I revisit decentralized finance, providing both an overview and 2019 update. The meat of the writing is the following long-range predictions for the space in the next decade -- (1) the role of Fintech champions like Revolut and Robinhood as it relates to DeFi, (2) increasing systemic correlation and self-reference in the space, which requires emerging metrics for risk and transparency, and (3) the potential for national services like Social Security and student lending to run on DeFi infrastucture, (4) the promise of pulling real assets into DeFi smart contracts and earning staking rewards, and (5) continued importance of trying to bridge into Bitcoin. Here's to an outlandish 2020!
There is poetry in the symmetry of this situation. Bitfinex is looking to raise $1 billion in capital to support the most popular stablecoin Tether, which it controls. Facebook is reportedly looking to raise $1 billion in capital from First Data, Visa and Mastercard and other payments companies to shore up its own stablecoin asset. Poetry is where the similarities end, and all these devils are in the details.
