There is a lot of excitement in the Decentralized Finance (DeFI) space. Can you comment on what you see as the particular opportunities there and what aspects you see as hype?
Much of the excitement is around wholesale disintermediation and reduction of transaction costs and thus opportunities abound for entrepreneurs and established corporations alike, to nurture payment, investment and financing products. DeFi protocols inherently allow creation of platforms for specific use-case and their variations. That is to say, there is a risk of creating overlapping, incompatible, erroneous or extraneous layers. That the space is unregulated, and transactions are irreversible mean that the widespread adoption depends on trustworthy protocol providers and the decentralized app builders. In some ways, this is counter to the promise of disintermediation, and threatens the entire field. From a larger perspective, this is setting a stage for more regulated or government backed cryptocurrency based platforms. I believe that the smart money would be on creating agnostic layers mirroring current DeFi protocols to facilitate mainstream use cases for a much larger audience.