The attendees at the decentralised conference entitled The Pooh Corner Debate on DeFi cheered Tigger when he went on stage. This was not surprising because a) most of the attendees were DeFi fans and b) Eeyore’s advice to investors to be wary of DeFi was a bit depressing.
Tigger, bouncing up and down in his characteristic style, focussed on 4 bullish points about DeFi:
- Wall Street IS a big broken market and there is a ton of money to be made fixing it. Quoting from a chapter in the Blockchain Economy book entitled Blockchain Bits Of Destruction Hit Wall Street, Tigger talked about the huge wave of financialization starting in 1973.
- If DeFI is crazy, negative interest rates are double crazy.This one got an extra big cheer from the crowd. Tigger went on to laud DeFi’s free market in contrast to the Soviet-like central bank economy. Even the small group of legacy finance people were seen nodding discretely and some spotted an uncharacteristic smile on Eeyore’s face.
- Rome was not built in a day but it did get built. He went on to talks about how the DeFi ecosystem provide a layered architecture and highly composable building blocks. Another big cheer went to his statement that “this will enable a very fast pace of innovation” and “you ain’t seen nothing yet”.
- DeFi originated during the 2019 crypto bear market. DeFi is fairly mature and has already been tested in a bear market.
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