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Personally the reason it blows my mind is because it’s now permissionless to craft a unique structured product or derivatives protocol, deploy it globally, and

by Dwolb 5y ago

Personally the reason it blows my mind is because it’s now permissionless to craft a unique structured product or derivatives protocol, deploy it globally, and anyone on the planet can participate in that market. It’s fully customizable and accessible to anyone with an internet connection.

jodrellblank 5y ago
In what way "permissionless"? In the way "the government has agreed that they can be unregulated financial products" or in the way "hopefully it can evade government financial regulation"? or in some other way?
- Dwolb 5y ago
  Sure there’s definitely US-centric issues given the current regulations in place. But it’s permissionless in that if the financial markets don’t support a structured product you or your community needs, you can create and deploy it yourselves with instant global accessibility.
  - jodrellblank 5y ago
    Why could you not do that with a few webservers in 2001?
    - Dwolb 5y ago
      You could (Matt Levine talks about his ExcelCoin he tracks in a spreadsheet), but with the rise of AMMs [1] (and SSOV’s) it’s easier to make the market in the DeFi space. [1] https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399 https://medium.com/dragonfly-research/what-explains-the-rise...
- SanJacobs 5y ago
  Evasion of regulation. Not just from governments, however. From anybody who wants to control people without consent.
  - jodrellblank 5y ago
    That feels like saying stealing food is a permissionless new way to get food. And I'm not at all convinced that the governments of the world could not regulate blockchains, or their use, if they wanted - either in ways like outlawing it, or auditing / regulating / taxing companies which use it, or pressuring insurance companies to put limits against insurance cover, or numerous other ways.
mikeg8 5y ago
Call me old fashioned my I prefer regulations in the markets I participate in. I still fail to see how “permissionless market creation”, while impressive, actually solves a problem. Where is the demand coming from, besides people in tech??

by Dwolb 5y ago

jodrellblank 5y ago

In what way "permissionless"? In the way "the government has agreed that they can be unregulated financial products" or in the way "hopefully it can evade government financial regulation"? or in some other way?

Dwolb 5y ago
Sure there’s definitely US-centric issues given the current regulations in place. But it’s permissionless in that if the financial markets don’t support a structured product you or your community needs, you can create and deploy it yourselves with instant global accessibility.
- jodrellblank 5y ago
  Why could you not do that with a few webservers in 2001?
  - Dwolb 5y ago
    You could (Matt Levine talks about his ExcelCoin he tracks in a spreadsheet), but with the rise of AMMs [1] (and SSOV’s) it’s easier to make the market in the DeFi space. [1] https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399 https://medium.com/dragonfly-research/what-explains-the-rise...
SanJacobs 5y ago
Evasion of regulation. Not just from governments, however. From anybody who wants to control people without consent.
- jodrellblank 5y ago
  That feels like saying stealing food is a permissionless new way to get food. And I'm not at all convinced that the governments of the world could not regulate blockchains, or their use, if they wanted - either in ways like outlawing it, or auditing / regulating / taxing companies which use it, or pressuring insurance companies to put limits against insurance cover, or numerous other ways.

mikeg8 5y ago

Call me old fashioned my I prefer regulations in the markets I participate in. I still fail to see how “permissionless market creation”, while impressive, actually solves a problem. Where is the demand coming from, besides people in tech??