Ethereum and The Trillion Dollar Internet Bond | Chris Perkins
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 29 February 2024
⏱️ 95 minutes
🧾️ Download transcript
Summary
Chris Perkins has a fascinating background as a marine who was shot at in Iraq, was at Lehman bros when it all came crashing down, was a Citigroup trying to pick up the piece of the financial crisis where he first ran across Gary Gensler, and now he’s in crypto. We talk about all that, but that’s not even the main event.
The Main Event is Ether the asset and a new reference rate he’s building on top of it. This sounds in the weeds but it’s actually actually key to unlocking trillions in new financial products. You might call this new rate the Libor for ETH.
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TIMESTAMPS
00:00:00 Start
00:11:33 Intro to Chris
00:13:17 From Banks To Crypto
00:16:27 Hostility Towards Crypto
00:19:16 National Security
00:25:23 Takes on Regulation
00:31:12 TradFi Response To Crypto
00:33:58 ETH ETF
00:37:24 Libor for ETH?
00:42:43 Libor Recap
00:45:35 How Was Libor Corrupted?
00:53:21 ETH Reference Rate
01:04:13 Risk Free Rate
01:10:08 Real vs Nominal Returns
01:21:51 DeFi Applications
01:26:01 Market Size
01:33:17 Going Forward
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RESOURCES
CESR home page: https://www.coindesk.com/indices/ether/cesr
CESR methodology document: https://coinfund.io/cesr/
CESR Tearsheet: https://downloads.coindesk.com/cd3/CDI/CESR+Fact+Sheet.pdf
More Reading:
https://www.coindesk.com/consensus-magazine/2023/09/26/how-staking-rates-can-drive-the-crypto-economy-forward/
https://www.coindesk.com/business/2023/09/27/five-reasons-why-the-world-needs-a-standardized-ethereum-staking-rate/
https://www.risk.net/derivatives/7957405/new-hope-for-crypto-derivatives-as-markets-urged-to-hail-cesr
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https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | I think the Tradify Mind really understands Ethereum because like Bitcoin it's like okay what makes |
| 0:05.1 | Bitcoin special all right there's 21 million coins that there can't be any more than that so |
| 0:09.2 | like it's limited supply totally okay I get it store value Then they go to like Ethereum and they're like, |
| 0:13.8 | wait a second, you're telling me that there's yield on this thing |
| 0:16.5 | and I can have smart contracts? |
| 0:18.5 | That's pretty cool. |
| 0:20.0 | And so I do think that Eth as an asset class is going to be super appealing as people take the time to really understand it a little bit. |
| 0:27.1 | It's a matter of when, not if. |
| 0:29.3 | Welcome to Bankless or we explore the frontier of internet money and |
| 0:36.3 | internet finance. This is Ryan John Adams and I'm here to help you become more |
| 0:41.1 | bankless. Yep, just me today. |
| 0:44.0 | Solo episode, David's at a conference. |
| 0:46.0 | The guest today is Chris Perkins and my my, this is definitely frontier of finance material. |
| 0:52.0 | So Chris has a fascinating background as I've come to learn. |
| 0:56.4 | He was a marine. He was shot at in Iraq. He was at Lehman Brothers when all of that came |
| 1:02.1 | crashing down in 2008. |
| 1:05.2 | Then he was at Citigroup trying to pick up the pieces of the financial crisis. |
| 1:09.3 | That's when he first ran across Gary Gensler. |
| 1:11.7 | Now he's in crypto. |
| 1:13.4 | All of this, as you might imagine, gives Chris Perkins a very unique perspective on |
| 1:18.6 | crypto, on national defense, on traditional finance. So we talk about all of that in the episode, but that's not even the main event. |
| 1:27.0 | The main event is Ether, the Asset, and a new reference rate, an interest benchmark if you will, he's building on top of it. |
... |
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