By their nature, cryptocurrencies and decentralized finance (DeFi) are decentralized and permissionless. We are not sure how they would be ‘outlawed’, as Dalio describes in this story.
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finance.yahoo.com/news/ray-dalio…
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finance.yahoo.com/news/ray-dalio…
His example of gold being banned was only possible because of the government’s centralized system. Governments could ban the exchange of fiat for cryptocurrencies, but the DeFi system is being built to work on its own merit, with no ties to fiat.
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Furthermore, countries that attempt to outlaw cryptocurrencies would risk their seat at the table. As the chart below shows, crypto adoption is highest among impoverished nations, lowest in the developed world.
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These countries will continue to design the new financial system, with or without any input from current world powers.
If/when this system becomes robust enough, these countries could demand trade (including oil) be conducted in these new financial systems.
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If/when this system becomes robust enough, these countries could demand trade (including oil) be conducted in these new financial systems.
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This may seem farfetched, but progress in the DeFi world is happening at a staggering pace.
Technology has disrupted many industries. DeFi is in the process of reimagining the financial system.
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Technology has disrupted many industries. DeFi is in the process of reimagining the financial system.
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When I put this post together, I fully expected a lot of FUD about DeFi.
Instead I’m getting full blown Stockholm syndrome.
It’s almost as if they want and need the big banks to continue to rip them off.
Instead I’m getting full blown Stockholm syndrome.
It’s almost as if they want and need the big banks to continue to rip them off.
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