How DeFi Could Disrupt Traditional Finance, Feat. Sergey Nazarov

“Imagine a world without counterparty risk…” – Chainlink’s co-founder shares why the move from brand-based contracts to math-based contracts is inevitable.

Today on the Brief:

  • Big tech goes to Washington
  • The debate on the next COVID-19 relief act heats up
  • More on institutional investors’ move into gold

Imagine a world without counterparty risk.

That was Chainlink co-founder Sergey Nazarov’s answer when asked to describe the true disruption of decentralized finance to a traditional finance audience.

On this episode of The Breakdown, Sergey and NLW discuss:

  • Brand-based contracts vs. math-based contracts
  • The history of smart contracts
  • What it means to build an “abstraction layer” for “universally connected smart contracts”
  • Key moments in the history of smart contract infrastructure
  • Where smart contracts and DeFi are in terms of analogies to the early internet
  • Why Sergey believes traditional finance will inevitably shift to a math-based contract model

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Source Link