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> Okay please share what made it click to you as a "fundamental global revolution" There's a lot going on right now in the decentralised finance space. A coupl
by ignoramous 6y ago
> Okay please share what made it click to you as a "fundamental global revolution"
There's a lot going on right now in the decentralised finance space. A couple of things that interest me:
1. Payments. Stable coins (backed by collaterals) like DAI (by MakerDAO), USDC (by CENTRE aka Coinbase, CirclePay et al), Libra (by Facebook, Shopify, Uber et al) have a potential to replace the current payments system and those rent-seeking middle-men. In DAI's case, the currency is truly autonomous and decentralised, so there's a good chance it ends up uncensorable and unregulatable. USDC and Libra offer a great way for folks not in high inflation countries with weak currencies to lock up cash-in-hand in USD. Libra is poised to see a broad adoption once Facebook makes it common place on Instagram and WhatsApp, where most of the commerce is moving to. It remains to be seen how Stellar ends up doing in response to Libra.
2. Banking. Banks, like eco, dharma, and onjuno, built on top of Ethereum altcoins can offer higher interest rates than traditional banks.
Other things I'm excited about and looking forward to:
1. Anonymous assets. Monero enables truly anonymous transactions. It isn't a stable coin, so that's a bummer. MobileCoin, which I believe is built on Stellar, is private but I don't think its anonymous or stable.
2. Web3. Storage (FileCoin, Sia), Compute (Golem, ElastOS), Network (Orchid, Mysterium), Content (IPFS)... may yet emerge as a credible distributed alternative to the current centralised cloud computing model.
3. Inter-chains. Today, a lot of innovation is concentrated on Ethereum, because of its versatility. Upcoming entrants like Polygon, Polkadot, and Cosmos would make inter-chain interactions much smoother. This has potential to upend the current status-quo and probably give rise to many more applications previously not possible.
Read also: https://blog.coinbase.com/what-will-happen-to-cryptocurrency-in-the-2020s-d93746744a8f https://blog.coinbase.com/what-will-happen-to-cryptocurrency...