Hi everyone, welcome to the A6NZ podcast. I'm Sonal. Today's episode is all about stable coins. What are they? Why do they matter? So our special guest is Andy Millennius, CTO of Maker, which is one of the oldest and longest standing projects on the Ethereum blockchain. They are the makers of the stable, which is a cryptocurrency that tries to remain stable in terms of volatility.

Joining me to interview Andy, we also have Jesse Walden, who is the former CEO and co-founder

of media chain and a partner on A6 and Z crypto. Speaking of, please note that A6 and Z

crypto is an independent fund, managed by CNK Capital Management, a registered investment

advisor with the SEC. It is separate from the

Andresen-Horwitz family of funds. The content here is for information only and should not be

taken as legal, business, tax, or investment advice. It does not constitute an offer or solicitation

to purchase any investment or a recommendation to buy or sell a security. And in fact, the content

is not directed to any investor or potential investor and may not be used to evaluate or sell a security, and in fact, the content is not directed to any

investor or potential investor and may not be used to evaluate or make any investment.

For more details, please see A6 and Z Crypto.com slash disclosures.

So, back to the overview.

Our discussion covers the trend of stable coins in general, as well as how it fits into the

broader landscape and evolution of crypto.

We also discuss the super interesting challenges in designing this kind of, quote, hard software.

And finally, we discuss how to build and run a distributed organization

because Maker is one of the first decentralized autonomous organizations or DAOs,

which has all sorts of interesting implications for the future of the firm,

innovation, leadership, and more. But first, we begin with a brief history of money, and more

specifically, the big picture and concept of debt. Gold itself is only part of the story of what

money is, right? In terms of the day-to-day lived experience of people's lives

working with money over the last, you know, 5,000 years, a lot of it actually hasn't been

...