"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
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.