Ep. 355 - Deep Dive on Crypto Oracles w/ Band Protocol founder Soravis Srinawakoon

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 16 December 2020

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of CRYPTO 101, brought to you by pNetwork and pTokens, we got some great insight into the future of DeFi with Band Protocol Co-Founder Soravis Srinawakoon. Soravis is our very first guest from Thailand and he gives us the insider scoop on the crypto landscape thriving in the land of Boon-nam. As an early investor in crypto oracle technology, Soravis is an expert and gives us the 101 on why this is such a critical piece of infrastructure. The main topic we kept returning to is the real potential of DeFi; would it remain a growing niche, or perhaps replace the entire financial system? On one hand, you have all of the power built on smoke and mirrors on a hidden over leveraged balance sheet that has been compounding for hundreds of years. On the other hand, DeFi brings fundamentally pure value on transparent blockchain, that can decide for itself what rules to comply with and what rules to disregard. At some point, the threat of DeFi becomes a promise, but it has a long way still to go. Lastly, we got his thoughts on the Kucoin hack, and the collaboration of many other exchanges to help out. There is a long ongoing debate on immutability vs intervention when these enormous security breaches take place. While Kucoin has mostly recovered at the time this podcast airs, the actions and inactions that took place industry wide will be felt forever. Sponsored link: https://p.network/ https://twitter.com/pNetworkDeFi Guest Links: https://twitter.com/BandProtocol https://twitter.com/SSrinawakoon Show Links: https://CRYPTO101podcast.com https://CRYPTO101insider.com Twitter: https://twitter.com/Crypto101Pod https://twitter.com/BrycePaul101 https://twitter.com/PizzaMind https://instagram.com/crypto_101 Facebook: https://www.facebook.com/groups/101Crypto https://www.facebook.com/CRYPTO101Podcast **THIS IS NOT FINANCIAL OR LEGAL ADVICE** © Copyright 2020 Boardwalk Flock, LLC All Rights Reserved ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Fog by DIZARO https://soundcloud.com/dizarofr Creative Commons — Attribution-NoDerivs 3.0 Unported — CC BY-ND 3.0 Free Download / Stream: http://bit.ly/Fog-DIZARO Music promoted by Audio Library https://youtu.be/lAfbjt_rmE8 ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

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0:00.0	All right, everybody, welcome back to another awesome episode of the Crypto 101 podcast where we speak to founders, CEOs, and the smartest people building up the Bitcoin blockchain and crypto industry.
0:13.6	Today's episode is brought to you by our sponsor, P tokens and P Network.
0:19.8	And if you've been listening to Crypt crypto 101 for any amount of time,
0:23.3	you've heard us call 2020 the year of interoperability. Over and over again, we're talking
0:29.0	about this concept. And that's because the smartest teams in crypto are all focused on
0:35.0	bridging the divide between the many different cryptocurrencies.
0:38.7	So imagine in the future, you won't have to worry about managing a million different addresses
0:45.1	for your Bitcoin and your Ethereum and Lightcoin and Tezos and Eos and all that stuff, right?
0:50.1	Rather, you'll be able to send any crypto to any address at any time.
0:56.0	Well, that future is here and it's made possible by P Networks P tokens.
1:01.0	And the ticker symbol for that is P-N-T.
1:04.0	So beyond that, P-tokens are able to be staked with a 42% annual yield.
1:10.0	Wow. So that means if you stake a thousand tokens, by the end of the year, you would have earned an additional 420 tokens.
1:17.6	I mean, that is serious business and it's a great way to be earning passive income.
1:22.6	So if you want to learn more about the P network, the leading protocol enabling interoperability,
1:28.8	or how you can earn 42% annual yield on your P tokens, click the link in our show notes or go
1:34.6	to www.p.p.network. Again, that's www.p, as in the letter p.network. Before we dive in to our awesome, awesome guest and conversation today, I want to remind you guys of two things.
1:48.9	And the first one is that if you go to Crypto101insider.com, you can join our private community.
1:55.8	Here's where we have our model portfolio and all of our top picks.
1:59.3	We also have Crypto 101 University where we have hours and hours and all of our top picks. We also have a Crypto 101 University where we
2:02.8	have hours and hours and hours of written and video content that explains blockchain and
2:08.6	explains cryptocurrency in a very bite-sized and easy to understand way. And we have a weekly
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