CoinDesk: Deplatforming and the Evolving Crypto Narratives

Published on
January 26th, 2021
Duration
83 minutes


CoinDesk: Deplatforming and the Evolving Crypto Narratives

The Interview - Crypto ·
Featuring Michael Casey and Ash Bennington

Published on: January 26th, 2021 • Duration: 83 minutes

Michael Casey, chief content officer at CoinDesk, joins Ash Bennington, Real Vision senior editor, to discuss his work at Coindesk, the current state of crypto regulation, and some of the most exciting developments in the sector. Casey explains that Coindesk covers the narratives behind the growing crypto ecosystem, such as broad acceptance of cryptocurrencies and the emergence of DeFi, and they accomplish this with both an events arm of the company and a research arm to holistically cover the crypto space. He believes that regulation has been problematic, particularly on how the proliferation of KYC/AML has hurt financial inclusion. He looks forward to crypto enabling the removal of costly middlemen with automated systems and permissionless inclusion into new financial systems, and he discusses how recent high profile deplatforming may have ushered in yet another potential narrative for crypto – a home for those censored by online platforms. Filmed on January 19, 2021.

Key Learnings: Casey believes that regulation will soon be coming for DeFi, and if this is the case, then those projects who have worked toward full compliance will likely be less risky than those who have not. He believes that crypto can solve some of the problems of traditional finance such as making collateral and debt obligations more clear, stating that the transparency of blockchain is a major benefit.

Comments

Transcript

  • TR
    Theodore R.
    28 January 2021 @ 02:37
    Thank you both fir the discussion. A question for Michael. How are stable coins different (leaving aside the technology) from the payment platforms/apps you mentioned? You’re right in describing those apps in terms of sitting on top of the traditional banking system. But if stable coins are actually backed 1-1 by $ or euros deposited in some traditional bank, how can we be comfortable w/ them? I’m still holding a digitized IOU. Perhaps DAI is different say from USDC, but my focus here is in the latter. Thanks again.
  • LA
    Liz A.
    27 January 2021 @ 19:19
    Mr. Casey, talking about shifting thoughts and disrupting the legacy financial system, does the world really need debt relief? That's not a concern of those who play by the rules. Perhaps standards can be raised so the whole concept of debt relief can go away. It's called living within means, on a personal level and on a business level. Global financial crises...would they exist if this concept was abolished? Bad luck happens and that is when humans can help one another. Why else would we need a vehicle for debt relief?
  • EB
    Edward B.
    27 January 2021 @ 07:18
    Hey Casey, they stormed the capitol because of a lie, not because of their economic lifestyle being compromised.
    • LA
      Liz A.
      27 January 2021 @ 18:54
      Actually, a whole series of lies or platform designed to fool. Circus?
  • jb
    joseph b.
    27 January 2021 @ 04:56
    The "big fist " always talks about the bad guys using Bitcoin to get away with what they do. I am going to help you out here Ash. The really bad guys are JP Morgan, Credit Suisse, Goldman Sachs, Wells Fargo, HSBC etc. AML and KYC don't seem to be much of an issue for them. Their customers are the drug cartels, the arms dealers, the human traffickers, etc. The only mechanisms to "clean" that much money, and it is $trillions are the large banks. The entire Cap of the crypto market is a mere fraction of the black money going through the hands of the " banksters" How many times is JP Morgan going to get a slap on the wrist for manipulating the PM market? I enjoyed the interview because Mike offered at least a peripheral nod to the original ethos and vision of Satoshi. This might be something Raoul Pal and the "traders" populating the space might need to be reminded of. We are not about the "Wall Streetification " of BTC
  • AP
    Alex P.
    26 January 2021 @ 22:38
    Most of the crypto media has little to no journalistic integrity. There sole purpose is to “Hans and Franz” the industry. If you haven’t realized this by now in your research, wake dafuq up.
  • TV
    Tyrell V.
    26 January 2021 @ 19:54
    Really great take on how transference in our trust in concepts has occurred from classic money being gold and fiat backed to democracy and societal constructs and how that is now being eroded by digital globalisation and the new world we are heading.
  • AP
    Antonio P.
    26 January 2021 @ 19:18
    Nice guy but.... bit of waste of time...
  • TP
    Timothy P.
    26 January 2021 @ 18:57
    Here's a fact that seems to escape most when these topics are discussed. All on-ramps to crypto are ultimately temporary. The moment products/services become denominated in crypto, is the very exact moment that all that KYC/AML garbage goes out the window, including FINCEN and the rest. Schnorr Signatures are very close to being activated in Bitcoin, which will allow privacy functions. Other improvements are on the cusp of being activated as well. Good luck if you're a bank or central bank trying to play enforcer in this space -- you'll just get routed around. As Casey says -- its all about confidence, and the con-game the central banks have been running is nearing the end of the road.
  • AP
    Antonio P.
    26 January 2021 @ 18:51
    too much bootlicking for my taste...
  • JP
    John P.
    26 January 2021 @ 18:17
    “Sort of”, “kind of”; new 2020s smart person filler words.
  • JP
    John P.
    26 January 2021 @ 18:04
    Great interview