How much do I like DeFi? Why am I even working in this industry at all?
I spend the better part of my days, every day, thinking about how we might even the playing field out there for all the economic actors in a given system. I know what it's like to not make shit. There's nothing you can do about it. And it's not your fault (mostly). The system is skewed. And it's really good at fucking over the little guy.
The 3 richest Americans (Buffett, Gates, Bezos) have more wealth than the bottom half of the American pie.
The top billionaires in the world own as much as the bottom half of the world population, a total of 3.8 billion people.
The top 0.1% own as much wealth as the bottom 90% in America.
That's absolutely insane. It's got to stop. So what the hell do we do about it?
The answer is DeFi.
I believe that we stand at the cusp of a revolution in financial services. The power that has accumulated over the years in the powerful intermediaries that we call banks, brokers, and financial advisors is rapidly dissipating. And thank god for that. If you've ever interacted with these folks in real life, you know the barely know enough to be worth the shit coffee that most of them give you for free when you visit them. Sure there a few exceptions, but good riddance!
You can sense this change in the March to Zero Fees begun by Robinhood and now mimicked by Charles Schwab and TD Ameritrade.
You can see this change in the tens of thousands of layoffs at Deutsche Bank, Commerzbank AG, HSBC, Banco Santander & more.
It's a fact that the old banking business model of capturing the net interest spread just doesn't work well... well... when interest rates are negative! As I've said before, that's where I believe we're eventually headed.
So if you believe, as I do, that change has to happen now and fast to avoid disastrous consequences for regular folk, then pushing the DeFi movement forward is paramount.
That's why I'm helping build the Konstellation Network and that's why I'm advising FinNexus. We're not anarchists, though. We want to bring the TradFi and DeFi worlds together in meaningful and mutually beneficial ways.
But if we end up just rebuilding the current system with CeFi actors like Coinbase, BlockFi & tZERO, just to name a few, I will be sorely disappointed.
So let's go all the way with this.
LET'S DO DEFI RIGHT!