Join Alex Tapscott and Andrew Young as they decode the world of DeFi. Listen in as they discuss a roundup of current macroeconomic themes, the looming debt ceiling situation in the United States, potential Bitcoin selling pressure resulting from the U.S. government’s Silk Road seizure, newfound popularity of Bitcoin ordinals, and all things OpenAI CEO Sam Altman’s crypto project, WorldCoin!
The United States’ Treasury Department has marked June 1st as the deadline in which the U.S. government may no longer be able to service its debt, barring any raise or suspension to the limit; Alex and Andrew break the situation down and debate its influences on crypto. There have been two sizeable Bitcoin “flash crashes” in the past few weeks, with many individuals in the space pointing fingers at the U.S. government, who obtained and announced plans to periodically sell 50,000 BTC from the Silk Road seizure. Sam Altman’s WorldCoin is a crypto project that was launched in 2019 to establish the largest identity and financial network in the world; it has amassed cumulative funding of $100 million to date with over 1.7 million users. WorldCoin distributes a free token for future utility and governance in the ultimate “global economy” to users who participate in an iris-scan, proving their unique “humanness,” and could serve as an effective channel in the distribution of a universal basic income.
Tune in to the 96th DeFi Decoded episode to hear Alex and Andrew discuss all things DeFi and WorldCoin. What’s the latest on the approaching deadline for the U.S. debt ceiling limit, and how has this affected the crypto market? What is WorldCoin, and which global challenges does it aim to solve? How might WorldCoin holders capture value, and is it a realistic universal basic income opportunity?
[1:08] U.S. Debt Ceiling & Impact on Crypto
[4:32] Potential BTC Selling from Silk Road Case
[7:50] Bitcoin Ordinals & Implications
[9:50] WorldCoin Crash Course
[18:01] Theory on WorldCoin’s Token Value
[23:40] Reality of WorldCoin’s Global Implementation
[27:28] Trivergence of Emerging Technologies
ABOUT DEFI DECODED PODCAST
Alex Tapscott, Andrew Young and guests break down the fundamentals of Decentralized Finance (DeFi) and how this cutting-edge technology enables individuals and institutions to transact, and create value, without the need for traditional financial intermediaries.