Crypto Was the Experiment. Now Wall Street Is Taking the Best Parts
The first decade of crypto can be seen as a sequence of bubbles, hacks, memes, and projects that disappeared almost as quickly as they appeared. I see a decade of financial experimentation. An open, global laboratory operating 24/7, with an unusual combination of innovation, speculation, fraud, successes, and failures. Not everything created in that environment
Our Summary:The first decade of cryptocurrency has been marked by experimentation, innovation, and failures. Traditional finance is now adopting some of the mechanisms developed in crypto, including faster settlement, programmable assets, and automated market makers. The goal is to converge these innovations without importing the risks and deficiencies of the original laboratory.