Cryptocurrencies like Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) have risen dramatically in price and have received a ton of attention over the past couple years. But the real game changer could be the underlying blockchain technology. In this Fool Live video clip, recorded on March 18, Gemini cryptocurrency exchange co-founder Cameron Winklevoss explains to The Motley Fool’s Anand Chokkavelu why decentralized finance is such an important innovation.
Anand Chokkavelu: What’s something in the blockchain/crypto universe most people today can’t envision at all, but will take for granted five years from now?
Cameron Winklevoss: I think one of the most interesting developments has been decentralized finance. That’s really had a boon over the past year, where people are building projects that are permissionless, where you can lend and borrow funds. You can trade. You can just show up to these smart contracts and send your collateral in and transact, you don’t actually need permission to do that.
It’s really rearchitecting big pieces of the financial system in a decentralized, permissionless manner, which is super exciting, and it’s all being built on Ethereum. I think the next question a lot of people would have would be, “How