Bankless Tarun Chitra on whether Code is Law | Layer Zero
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Mar 15, 2022 In this lively discussion, Tarun Chitra, Founder and CEO of Gauntlet, shares his unique insights into the interplay of finance and law, highlighting the elegance of smart contracts. He reflects on New York's post-pandemic transformation and the shifting dynamics of its populace towards cryptocurrency. Tarun navigates the challenges within U.S. regulatory frameworks and the urgent need for legal reform in our tech-driven world. He explores innovative governance models like DAOs, emphasizing how decentralized finance can reshape our understanding of law and community.
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NYC's Creative Boom
- Tarun Chitra moved to New York City in 2011 after the financial crisis.
- He observed a shift in population, with "shitty" people leaving for San Francisco, fostering a creative boom in NYC.
Latin America Leapfrogging US
- Tarun Chitra predicts Latin America might leapfrog the US in crypto adoption, similar to Asia skipping landlines for mobile.
- He observed increased credit card adoption in Latin America, suggesting a readiness for digital finance.
US Regulation vs. Innovation
- US regulation hinders financial innovation, leading to other countries leapfrogging with simpler, faster solutions.
- This forces the US to play catch-up, creating a cycle of exceptionalism, stagnation, and then rapid adoption.