In Praise of DeFi
DeFi and cryptocurrencies are about more than “shadowy super coders” and millennials buying jpegs of diamonds.
In “Decentralized Finance Could Help Rebuild Lebanon’s Economy,” Hugo Dante makes an excellent point: DeFi and cryptocurrencies are about more than “shadowy super coders” and millennials buying jpegs of diamonds. Bitcoin, USDC, and the like may not be the first choice for most Americans, but these are resources that are not limited to America’s borders. There are countries across the world, such as Lebanon, where people cannot depend on state institutions. Whether it is due to overbearing authoritarians or inflationary regimes, people are turning more and more to alternatives.
It is indeed sad to see any country struggle so much, but Dante is absolutely right in saying that “we can look to the future with optimism, knowing the potential of technology to provide alternatives where traditional institutions fail.”
[Cross-posted from Discourse Magazine]