MakerDAO: A New Hope for Financial Reform by Andy Milenius (Devcon4)
Channel: Ethereum Foundation
Date: 2018-12-11

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https://archive.devcon.org/archive/watch/4/makerdao-a-new-hope-for-financial-reform

Aside from its practical applications, the blockchain movement can be seen as a populist response to the lack of meaningful reform within the financial sector since the crisis of 2008. This is the sentiment that was famously captured by the indignant inscription on the Bitcoin genesis block: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”  At MakerDAO we believe that by adding the key feature of stabilization, Dai fully realizes Satoshi Nakamoto's vision of a peer-to-peer electronic cash system. To do this, we have borrowed many different ideas from traditional finance and in the process created a truly holistic foundation for a more rational financial system. In this talk we will dive deep on the philosophical similarities and differences between MakerDAO and the world of traditional finance. We will discuss how MakerDAO represents significant reform of the global financial system by better aligning its incentives and radically increasing its transparency. 

Speaker(s): Andy Milenius
Skill level: Intermediate
Track: Society and Systems
Keywords: maker, defi

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Devcon 4 was held in Prague, Czech Republic on Oct 30 - Nov 2, 2018.
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