Freakonomics Radio 510. What Problems Does Crypto Solve, Anyway?
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Jul 7, 2022 
Antoinette Schor, an economist from MIT's Sloan School of Management, dives into the complexities of blockchain technology. She discusses how blockchain could revolutionize power dynamics, shifting control from corporations to users. Schor highlights the challenges of implementing decentralized finance and the implications of digital currencies. The conversation also touches on the necessity of new evaluation metrics for crypto, the historical context of regulations, and a humorous tale of a failed NFT rocket launch, illustrating the unpredictable nature of this emerging landscape.
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Stablecoin Instability
- Stablecoins, pegged to real-world currency, aim for price stability.
- However, some stablecoins, like TerraUSD, have collapsed, revealing instability.
Intermediary Dilemma
- Removing intermediaries in transactions offers benefits like lower costs.
- However, it raises regulatory concerns regarding fraud and illicit activities.
Coinbase's Centralization
- Brian Armstrong, Coinbase CEO, was inspired by Argentina's hyperinflation.
- Coinbase, despite promoting decentralization, functions as a centralized exchange.