Niklas talks with Joshua Scigala, the Co-Founder and CEO of TheStandard.io, which offers over-collateralized stablecoins backed by Gold, Bitcoin and Ethereum.
Josh and Niklas talk about the recent events surrounding the collapse of FTX, the crypto trading platform. Josh has been in the industry since 2010 and has seen many collapses and creative destruction over the years. He believes the industry has a way of overcoming failed experiments and bad ideas by writing better code.
Better code instead of laws and regulation is at the heart of the ethos of DeFi.
Secondly, we talk about stablecoins and Josh's mission to create a privatized and decentralized Gold Standard for the 21st century.
Stablecoins create access to the financial innovation of the crypto ecosystem while allowing a host of important everyday transactions. Unlike algorithmic stablecoins, TheStandard.io is backed by rare assets, i.e. Gold, Bitcoin and Ethereum.
The Standard aims to solve inflation by leveraging devaluation to work for savers, not against them. Besides leveraging rare assets, TheStandard.io also aims to innovate when it comes to decentralized governance through prediction markets.
The pace of financial innovation in DeFi is mesmerizing, but the industry is threatened on multiple fronts by bad PR and regulatory overreach. However, they survived multiple crises and came out stronger by building antifragile systems.
Join us on the mission to create a better, decentralized financial system for the Prospera Fintech & DeFi Summit 2022 (Nov 18-20).
Niklas on Twitter: https://twitter.com/NiklasAnzinger
Infinita VC Website: https://infinitavc.com/
Discord: https://discord.gg/Z4H6UjbubK
Ep. 23: DeFi Against the Machine - Learnings from the FTX Meltdown & Building a Decentralized Gold Standard for the 21st century w/ TheStandard.io CEO Joshua Scigala