As the only podcast dedicated to open banking, our podcast strives to be one of the key voices in the global open banking community. The goal of the show is to educate people on how the world of finance is being shaken up by open banking, ultimately giving them more ways to save their money, move money around and improve their financial well-being. To those building open banking, we bring the unique perspectives of technology innovators, financial leaders and key influencers, as we aim to accelerate its continued evolution.
The Road to DeFi Banking
The world of modern cryptocurrencies has evolved beyond just money, with currencies like Ethereum providing programmable open platforms to build the financial instruments of the future. These new tools aim to re-create and radically improve the centuries-old systems we have today, a movement that has come to be known as decentralized finance, or DeFi. As the head economist of Decentralized Protocols at ConsenSys, Lex Sokolin is an expert on DeFi, as well as crypto and FinTech in general. In his current role, he focuses on protocol crypto-economics, digital assets, public and private blockchains and decentralized finance. In this episode, Eyal and Lex sit down to discuss how DeFi is creating the fabric of an entirely new economy, including where open banking fits into the picture. They cover the difference between different cryptocurrencies, the introduction of smart contracts, and how DeFi is ushering in the new world of finance.
Specifically they discuss:
- Overview of crypto
- Bitcoin vs. vs. other cryptocurrencies
- What are smart contracts?
- The emergence of DeFi
- Open banking as a bridge
- The old economy vs. the new