Musings on Cryptoassets
Blockchain is going to change many things that we are used to do in traditional ways that many people find it difficult to grasp the magnitude of revolution that blockchain is bringing. Some areas where the change has already begun include: Lending & Borrowing: Lending and borrowing, which is the backbone of banks and financial institutions is going to be shifted onchain. MakerDao is the pioneer of this field. There are many other projects that are emulating the breakthrough of MakerDao. Payments: No need to hold govt issued depreciating currency. There are multiple alternatives that include Bitcoin (with lightening)and fiat stablecoins (like Tether, USDC), and algorithmic Stablecoins (like DAI and UST). Exchanges: All digital assets that are native to blockchain can be exchanged on-chain so the business of all financial intermediaries related to exchanges are going to be affected. Uniswap is the leader of this area that pioneered the successful implementation of Automated Market