Hive Following The Eurodollar System.
Hive is laying a strong foundation. This stems from having people all over the world powering up the coin.
In this video I discuss how we can use this as a means to build a lot more on top of it. DeFi is an important part of our future.
▶️ 3Speak
0
0
0.000
!PIZZA
$PIZZA slices delivered:
@cryptohaytham(3/5) tipped @taskmaster4450 (x1)
Yeah the widespread nature of the coin and the system is going to be a huge benefit for us in the long run. We just have to increase the amount of monthly active users. If we could maintain 100,000 MAU what would the ecosystem look like? Hard to say but I know it would be a significant benefit!
Posted Using LeoFinance Beta
https://twitter.com/1415155663131402240/status/1641845150161993728
The rewards earned on this comment will go directly to the people( @rzc24-nftbbg ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Summary:
In this episode, Task discusses the geographical distribution of Hive and draws parallels with the Eurodollar system. He explains how a decentralized monetary system could be established within the Hive ecosystem, allowing for global peer-to-peer financial transactions and the creation of financial instruments tied to the value within the ecosystem. Task emphasizes the importance of transparency and the potential for Hive to create a decentralized finance (DeFi) foundation that operates outside the control of governments and central banks. He contrasts this vision with the challenges faced by Bitcoin in solving the DeFi problem and the involvement of traditional financial institutions in the cryptocurrency space.
Detailed Article:
The episode delves into the concept of the Eurodollar system as a model for cryptocurrency to follow, highlighting its characteristics such as a peer-to-peer system operating outside central bank control. Taskmaster discusses how this system, developed over decades, encompasses various financial instruments like Libor, interest rate swaps, and futures contracts, emphasizing the organic growth and lack of top-down governance.
Drawing a parallel to Hive, Task explains how people worldwide are engaging with the platform by "powering up" and filling their wallets, laying the foundation for creating financial assets and services within the Hive ecosystem. By enabling the development of financial products tied to Hive's value, there's potential for global peer-to-peer interactions without the need for financial intermediaries.
Task underlines the importance of DeFi to Hive's growth, highlighting the transparent nature of Hive's base layer compared to traditional financial systems prone to manipulation. He advocates for creating assets tied to Hive-backed dollars (HBD) that offer transparency and reduce counterparty risks, aligning with the ethos of a decentralized financial system.
In contrast to Bitcoin's focus on payments, Task discusses the limitations in addressing DeFi challenges, with Bitcoin's integration often mirroring traditional financial practices rather than revolutionary decentralized models. He criticizes past incidents within the crypto industry, comparing certain practices to those of Wall Street and emphasizing the need for transparency and authenticity.
The episode concludes by emphasizing the power of global distribution within the Hive community. Task envisions the spread of Hive's financial impact across various countries, enabling financial inclusion and mirroring the Eurodollar system's reach in facilitating global monetary flows efficiently. Task stresses how this decentralized model can outpace traditional financial systems controlled by central banks and governments, with the potential to empower individuals worldwide through transparent and peer-to-peer financial interactions.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.