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The Breakdown

Tom Shaughnessy & Jordan Clifford on Layer 1 Wars, Token Economics and A Shift to Applications

The Breakdown

Blockworks

Investing, Business

4.8806 Ratings

🗓️ 31 December 2019

⏱️ 25 minutes

🧾️ Download transcript

Summary

Tom Shaughnessy is a co-founder at Delphi Digital as well as the host of the Chain Reaction podcast. Jordan Clifford is managing director of Scalar Capital. In this end of year interview for The Breakdown, Tom argues that the big story of 2019 was actually the fact that it was all about quiet building. When it comes to 2020, however, watch out for fireworks. Tom predicts we’ll see a major increase in the layer 1 smart contract platform wars, as well as an increased in the perceived importance of token economic design. Jordan meanwhile argues that we’re likely to see a shift back to development at the application layer.

Transcript

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0:00.0

Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW.

0:15.0

The Breakdown is distributed by CoinDesk.

0:21.2

Welcome back to the breakdown's end-of of Year extravaganza, and today I'm excited to share

0:25.8

this interview with Tom Shanasi. Tom is the co-founder of Delphi Digital, one of the best

0:30.8

independent research houses in crypto, as well as the host of the Chain Reaction podcast.

0:36.2

And part of why I was excited to bring Tom on is, one,

0:38.9

he thinks in a really broad way. He has to think in a really broad way, in fact, about the entire

0:43.9

crypto landscape. And he also digs into details in his work, right? He isn't just someone who

0:49.5

kind of skips across the pond like a rock. He really goes deep on a huge number of different topics.

0:54.7

So I was excited to see what he thinks the story of 2019 was and what he thinks about the go

0:59.8

forward. And in some ways, I think that the go forward, his answers to those questions are the

1:03.8

most interesting. He's really betting on a much more significant layer one platform war and a real

1:10.7

return to a focus on token economics

1:13.5

and token economic design. So it's a really interesting interview. I hope you enjoy it. And if you

1:18.4

do, please subscribe so you catch all of these end of year breakdown episodes going through

1:24.0

January 1st. We will be back on January 2nd with our regularly scheduled

1:28.3

breakdown episodes. Thanks, guys, and let's dive in. All right, welcome back to another breakdown

1:36.3

end of year micro interview. We've got Tom Shaughnessy, the infamous Tom Shaughnessy of Delphi

1:43.4

Digital. Tom, what's going on, man?

1:45.0

Nothing much. Thanks so much for having me, narrative King. It's always great to chat with you.

1:49.6

Yeah, no, it's, I'm looking forward to hearing your insights. This is one where, you know,

1:53.8

I think it's great to get so many different perspectives on this kind of year-end, year-looking-forward

...

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