<
https://theconversation.com/cryptocurrencies-are-great-for-gambling-but-lousy-at-liberating-our-money-from-big-central-banks-173901>
"The dream that decentralised finance – or “DeFi” – can free the monetary
system from the clutches of governments and banks has helped launch 20,000
cryptocurrencies.
But with 2022 proving to be more of a crypto-nightmare – including for the
vaunted “stablecoins” that held the most promise as rivals to central
bank-issued currencies – questions are now being asked as to whether DeFi
really has any future.
There are predictions the cryptocurrency market, having lost more than half its
value in the first six months of 2022, could collapse further – or be on the
point of a rebound. This speaks to that fact that crypto is great for gambling,
but still lousy as usable currency. It lacks other useful attributes too.
To assess DeFi’s prospects, it is useful to consider how finance became
centralised in the first place."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
