They used to talk about blockchain and the future of finance.
10000 rug pulls, exploits, failed projects with no funding, etc later, with billions in raised funds that have gone through the VC -> whale flows via DeFi 1.0, 2.0 etc, this industry is now feeling a lot closer to a finance industry. It’s taken 6 years since I started but a lot of the pieces have been figured out.
The biggest hurdles are still larger financial instititions considering “how can I get our leadership comfortable with your permissionless chain defi protocols etc” although step by step, these are being figured out, gradually. We will see repos onchain with stablecoin settlement, we will see other structured products launching. I imagine a world where JP offer BTC as the underlying alongside gold / index funds etc and there’s some other derivatives priced on top. Crypto as a commodity that can serve as collateral, also as an exchange currency etc.
The internet was adopted because it was big and permissonless and opened up opportunities. Same for public blockchains. We’ll have our https:// through various secure privacy solutions (flare is building these), segregated vaults etc via qualified custodians like BitGo etc.. there will be granular modular systems that people can use to sign with faceID or with their ledger devices.. we’ll deploy agents on our behalf, agents will deploy their own sub agents. Cross chain private margin trading, TCLEs, all of it. There will still be gambling. There will still be trading. Stablecoins have been the constant growth engine behind the space.
It’s all exciting. It’s slow. It’s sometimes arduous, but it’s happening.