Join local innovators for a fascinating discussion on the disruptive power of decentralized finance and blockchain technology at the Friday Coffee Meetup
Join local innovators for a talk about how cryptocurrency and blockchain technology are transforming the financial industry at the Friday Coffee Meetup, a weekly speaker series presented by Echo-Factory and Innovate Pasadena in Old Pasadena.
This week’s Meetup takes a closer look at decentralized finance, a financial technology that uses cryptocurrency and blockchain technology to manage financial transactions – and the developments surrounding the new financial paradigm.
Robert Mowry, who teaches the Blockchain Technology Management Certificate Program at UCLA, and a partner at FinTech management consultancy Rekt Tech, and a partner at Altcoin Accelerator, will be a keynote speaker for the event titled “Friction in Finance: Open & Closed Blockchains’ Walled Garden War.”
The in-person event will be held on Friday the 3rd. March from 8:30 a.m. to 10 a.m. in FoundrSpace Coworking at 87 N. Raymond Ave.
One of the unique features of decentralized finance is “trustless technology” that allows anonymous counterparties to be accountable to each other, minimizing counterparty risk, but over the years, permissioned and private blockchain technologies, which provide more security and privacy, have increased.
“The talk will focus on how there are different paths in decentralized finance,” Mowry said of the upcoming discussion.
He continued: “Embrace trustless technology, essentially smart contracts that allow you to trade with opaque counterparties, and face the world. The other uses a closed blockchain where all counterparties are known and have validated their identity and trustworthiness using Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.”
“The friction is that the open protocols largely want these closed protocols not to operate behind a walled garden and play with everyone else. Those who prefer a closed blockchain prefer to reduce their exposure and trading partners to prevent potential conflicts.”
Mowry said there is an appetite for both closed and open blockchains.
“The FTX situation and the downfall of so many centralized exchanges and financial firms have shown that centralization is not ideal and abhorrent to decentralization purists. That said, it is difficult to navigate an ownership structure where a few project participants do not have broad, authoritative control.”
“Horizontal organizations are difficult to build, but the potential to disrupt the traditional vertical organizational structure and deliver greater value to all participants in a company’s success is an exercise worth doing.”
Mowry said the upcoming event is ideal for those interested in how the nation’s financial infrastructure is being upgraded and how economies are being connected using distributed ledger technology.
Presented by Echo-Factory and Innovate Pasadena, FMC is a weekly speaker series that features local innovators and gives the community a glimpse into the innovation happening in the city.
To attend the upcoming event, register via:
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