How YFI becomes the leading world bank — The Restaurant Era of Digital Finance Ethereum ends the oligopolized banking industry, just as the internet ended the oligopolized journalism industry. Banks on Ethereum have one product to sell: yield [1], so we occasionally refer to Ethereum banks as yield-optimizers. Anyone will be able to launch their own bank, a.k.a. their own yield-optimizer, on Ethereum with…

How Public Blockchains Go from Niche to Mainstream — Co-written by Cameron Sepahi Moore’s Law For those unfamiliar, Moore’s Law is the primary reason why iPhones today possess more processing power than the rockets that defined the Apollo moon missions. In 1965, Gordon Moore observed that the number of possible transistors in a circuit doubled every year; he predicted the trend…

An Upgrade to the Internet — Public blockchains will be as important to the world as the internet. The internet allowed for the frictionless flow of information. Public blockchains allow for the frictionless flow of value. Value has been a second-class citizen on the internet, until now. Value has been largely overlooked by businesses, who have…

Changing the Properties of Currencies — Today, a currency must assume three roles to achieve widespread adoption: a store of value [1], a medium of exchange [2], and a unit of account [3]. Store of value tends to separate itself entirely from the other two characteristics. The assets that make the strongest stores of value have…

While Ether is very likely to become the biggest winner in crypto, usurping gold in the process, its competing blockchain-based commodities will assume roles as digital silver, digital bronze, etc.. Like Ether, these neo-commodities will live their metaphors based on the usefulness of their corresponding blockchains [1]. It is still…