Hi Reddit! I’m a long-time, active lurker. Here's proof. This week I was featured on Laura Shin's 'Unchained' Podcast talking about Compound, and a few people asked if I could do an AMA. In the spirit of crypto, I thought I would provide some radical transparency from the perspective of a project founder -- so ask me anything! My Background I began my career as an economist, forecasting interest rates and managing interest rate risk for a bank, and then for a private wealth management company. And my favorite book is unironically A History of Interest Rates (it starts back in Mesopotamia!!) In 2011 I founded a software company, and moved to Silicon Valley, which is where I’ve been ever since, doing the same ever since. My latest company, Compound, is the third venture I’ve launched with my co-founder (Geoffrey Hayes) -- we’re creating money markets for Ethereum assets. I’m happy to answer your questions about: Will crypto ever go up again Developing on Ethereum Building a company, hiring, etc Anything crypto. Seriously--I’ll read your whitepaper How the Compound protocol works, and our plans Standard reddit things... Nothing I share in this AMA should be construed as financial advice. Do your own research, reddit bros and brosettes. So what’s Compound? Why should you care? Right now, most crypto assets sit completely unused in wallets, and on exchanges -- even though there are borrowers who would love to make use of your assets (to use, speculate or trade with). For traditional assets, like a dollar, it would sound crazy to say that it yields 0% interest, and that it’s not being used elsewhere -- but in crypto its normal. Money markets for crypto assets will unlock value for even the smallest of investors and increase the attractiveness of holding blockchain assets, and that’s what we’ve set out to do at Compound -- ensure that every crypto asset has an interest rate. Compound is backed by some of the most well-known investors in crypto, including Coinbase Ventures, Andreessen Horowitz, Bain Capital Ventures, Polychain Capital, and we've partnered with 26 hedge funds. Also, we’re planning to launch soon! submitted by /u/dotcomedy [link] [comments […]
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An interesting news I met up today: RippleNet will be used to process international payments for its customers by PNC bank, which is ranked among the top ten U.S. banks. As the article says, a particular PNC unit — Treasury Management — will use Ripple’s blockchain solution xCurrent to speed up overseas transactions held by U.S. commercial clients. Using xCurrent in banking is the first step towards adoption of other Ripple products, such as the xRapid, senior vice president for product management of Ripple reports. Is this a new step in applying the blockchain technology Where this is going to lead? source: cointelegraph submitted by /u/Argentww [link] [comments […]
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