One thing we are saying loads right here on the Bloomberg Crypto group is, “every part outdated is new in crypto.” And what we imply by that’s that whereas there’s a notion that concepts just like the blockchain are novel and groundbreaking, the truth is there’s a number of precedents for ideas like DAOs (decentralized autonomous organizations) or ICOs (preliminary coin choices). That is notably clear proper now, as crypto experiences its personal model of a “Bear Stearns second.” Which all begs the query: Is decentralized finance simply reinventing conventional finance with extra complexity and a sprinkling of blockchain? Or is there real novelty right here? Bloomberg Opinion columnist Matt Levine and Bloomberg reporter Muyao Shen be part of host Stacy-Marie Ishmael on this episode.
–By Victoria Vergolina (Bloomberg)