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The centuries-old monetary system higher than DeFi


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IN THE historical past of harmful naivety, the decentralised finance mania of 2021 will maintain its personal in opposition to the 2007 increase in collateralised debt obligations. It took a monetary disaster for the world to clever as much as CDOs, which repackaged dangerous mortgage bonds to make them look safer than they have been. “CDOs are nothing but a massive Ponzi scheme,” mentioned the villain of a fictional account of the 2008 meltdown. How way more carnage will it take this time to know that blockchain-based lending is equally reckless?

The centuries-old monetary system higher than DeFi.
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