[Taklimakan Blog] Kraken CEO Jesse Powell: “DeFi Is Really Eating up the World of Finance”

In a recent interview with Yahoo Finance, Kraken co-founder and CEO Jesse Powell talked about bitcoin, Ethereum, decentralized finance (DeFi), stock tokenization, and Dogecoin (DOGE). Below are a few key comments made by the CEO of Kraken during a conversation with Akiko Fujita and Zach Guzman of Yahoo Finance.

Stock Markets

Powell argues that the lack of transparency in stock markets contributes to “bad things”:

“… The people who were the first to trade cryptocurrencies were shocked to learn how the stock markets actually work with so many intermediaries in the process who do not actually own your shares, but technically someone else owns them, someone keeps them third, and there is no way to instantly move them anywhere … “

“This is a completely different system, and I think that now that we have a cryptosystem, it is no longer necessary. And I think we would be much better off with a system of simple instruments where people can take their shares, move them anywhere, trade them anywhere and trade directly on the exchange. “ “And since they can’t do it now … you have so many opportunities for something bad to happen … And the notorious little guy is really at a disadvantage in such a system.”

Pop culture fanatic. Hardcore coffee junkie. Food ninja. Bacon expert. Hipster-friendly introvert. Crypto expert on Taklimakan.Network.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Hup Life: The Most Game-Changing Technology for NFTs

CryptoTycoon becomes a partner of Binance Smart Chain #1 of learning incentive program

Crypto Markets are highly volatile and needs exclusive expertise to trade crypto assets and new…

How to buy Hero Galaxy: Heroes NFTs — A Step-by-Step Guide

How to buy Hero Galaxy Heroes NFTs

Get RLI tokens for free Share $50 million in promotional rewards https://www.ixecx.com/

Crypto Signals That You Need To Know

Project #013 MOON — Explore And Colonize In The Moon Metaverse

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Anatole Strum

Anatole Strum

Pop culture fanatic. Hardcore coffee junkie. Food ninja. Bacon expert. Hipster-friendly introvert. Crypto expert on Taklimakan.Network.

More from Medium

XRP: Will the gains continue

What happened this January in the cryptocurrency world? (2022)

A Quick Guide into Cryptocurrency Exchanges

Finscanner Weekly News