Bankless Ethereum and The Trillion Dollar Internet Bond | Chris Perkins
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Feb 29, 2024 Chris Perkins, President of CoinFund and a former Marine Corps officer, shares his journey from combat zones to the world of crypto. He discusses the need for a standardized reference rate for Ethereum, akin to LIBOR, which could revolutionize financial products. The conversation touches on the evolving relationship between traditional finance and crypto, regulatory challenges, and the crucial role of transparency. Perkins also explores how Ethereum could be a new financial frontier, promoting freedom and innovation in an increasingly digital economy.
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Ethereum, the Internet Bond
- Ether can be viewed as an internet bond, offering yield denominated in ETH.
- A standardized global reference rate for ETH daily yield is crucial for unlocking trillions in new financial products.
From Marine to Crypto
- Chris Perkins, President of CoinFund, served as a Marine Corps officer in Iraq, experiencing heavy combat.
- He transitioned to Lehman Brothers, witnessing its collapse, and then to Citigroup, working with Gary Gensler during the financial crisis.
The Importance of Interest Rates and LIBOR
- Interest rates are central to modern finance, driving everything from individual loans to complex derivatives.
- LIBOR, a benchmark interest rate, underpinned trillions in assets but was susceptible to manipulation.