A Worse Greed than JPMorgan
DeFi products are often hailed as "for the people" due to their removal of intermediaries in financial services. However, is it really true that they have removed intermediaries or have they simply replaced them with a new one? In this video, I breakdown the basic premise of DeFi and the issues that are present in the management of DeFi products, specifically DAOs. In particular, I hope to highlight that they aren't as decentralized and "for the people" as they are often made out to be in most DeFi introductions.
0:00 - Introduction
0:29 - What is DeFi? Where's the issue?
2:17 - "Immutability"
3:09 - The Intermediaries of DeFi
6:12 - DAOs
7:56 - DeFi Product Example: DAI
10:17 - Centralization of Voting Power
12:12 - Greed
13:23 - DAO Conflict of Interests
14:14 - Conclusion
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