Relearning old lessons can be painful.
30 Nov 2022, 15:52
Relearning old lessons can be painful. In 2022, the crypto community has been confronted with the same problems that led to the fall of MtGox in 2014 - only with far greater consequences. 💥
We accepted a degree of centralization as the price of growth for the sector. However, placing Web3 services within a TradFi wrapper and mindset simply substituted one set of problems for another, at best, and compounded them at worst. 😒
2023 will see a resurgence of "true" DeFi. 💪 Ruby's view is that the answer to the failings that TradFi introduced into the blockchain space isn't simply better, more trustworthy platforms. It's more decentralization, greater transparency, and less need for trust. 🤩
Everything that can go on the blockchain, should go on the blockchain. ⛓