Linda Xie: Decentralized networks can essentially replace entire corporations
Linda Xie · Beyond Cryptocurrencies · Dec 15, 2018 · at 13:19
Linda Xie, co-founder of Scalar Capital and former product manager at Coinbase, discusses the potential of decentralized autonomous organizations (DAOs) at the a16z Summit.
0:00 / 0:03exact quote · 3.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“And you can essentially have networks replace entire corporations.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Linda Xie
Xie: Decentralized applications are censorship resistant and cannot be shut down
“And we refer to these as decentralized applications, or dApps. And so these are applications that run on a decentralized network. They're censorship resistant and can't be shut down.”
Xie: Smart contracts enable crypto networks to replace entire corporations
“So you can now have networks that replace entire corporations, which is fascinating.”
Xie: Mitsubishi UFJ wrote a physical $9B check to Morgan Stanley in 2008
“So in 2008, Morgan Stanley needed an injection of capital to help prevent them from collapsing. So Mitsubishi U of J agreed to send this money, and they sent nine billion dollars, but it was a banking holiday in the US and Japan, and so they weren't actually a…”
Linda Xie: Bitcoin mining farms consume electricity comparable to small nation states
“Mining farms where they're actually consuming as much electricity as some small nation states.”
Xie: Centralized prediction markets failed due to regulation and corruption
“And we've seen prediction markets in the past. This is not a new concept. We've seen something like in-trade before. But they've actually been shut down. They've run into regulatory issues. The operators might have been corrupt. So, there's been a lot of issue…”
Xie: Augur's REP token model is an innovative decentralized oracle design
“So the way that Augur does it, I think, is really innovative. So Augur itself did a token sale, and they issued a bunch of tokens to the public, and these tokens are called REP. So now, these token holders are randomly selected to report on the outcome of thes…”