How DeFi Could Disrupt Traditional Finance, Feat. Sergey Nazarov

"Imagine a world without counterparty risk..." - Chainlink's co-founder shares why the move from brand-based contracts to math-based contracts is inevitable.

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This episode is sponsored by Bitstamp and Crypto.com.

Today on the Brief:

• Big tech goes to Washington
• The debate on the next COVID-19 relief act heats up
• More on institutional investors’ move into gold

Imagine a world without counterparty risk.

That was Chainlink co-founder Sergey Nazarov’s answer when asked to describe the true disruption of decentralized finance to a traditional finance audience.

See also: A Simple Explanation of DeFi and Yield Farming Using Actual Human Words

On this episode of The Breakdown, Sergey and NLW discuss:

• Brand-based contracts vs. math-based contracts
• The history of smart contracts
• What it means to build an “abstraction layer” for “universally connected smart contracts”
• Key moments in the history of smart contract infrastructure
• Where smart contracts and DeFi are in terms of analogies to the early internet
• Why Sergey believes traditional finance will inevitably shift to a math-based contract model

Find our guest online:
Website: Chainlink
Twitter: @SergeyNazarov

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.