Tag: Weed

Weed Out the Soviet-Era Ponzi Scheme Eating Ethereum

Lex Sokolin, a CoinDesk columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter.

We have a beautiful Ethereum garden. In it we grow cash equivalents called stablecoins powering applications that run on open-source, programmable blockchains. It promises to be the new economy – free, permissionless and global. It saw more than $50 billion in transaction volume in June 2020 alone.

But there is a hungry weed growing underneath. In our beautiful public garden, there spreads corruption. Can we root out this plant? Can we turn the soil?

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