"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
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
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