I was speaking with someone the other day about his crypto project and we got to a point in the conversation where I said,

“you know, it doesn’t really matter if your company succeeds or not what matters is that DeFi succeeds.”

“Yes,” he said, “this one is about legacy.”

That’s been resonating in my head ever since, thinking about what legacy means and why/if it’s important. I mean, after all, you are dead, right? So, you don’t really care all that much at that point.

But legacy is about knowing you made an impact, a proverbial “dent in the universe.”

Today, the world is facing an entirely new set of challenges, on a scale we’ve never faced before. That’s no secret, but what’s difficult to get agreement on is the causes.

In what is probably a “if you’re a hammer, everything is a nail” moment, I look at our fiat-based banking system and see the root of so many issues. [for more, see here]

For example, the inflation we have now was caused by the bank’s incredible money printing splurge.

Next, they’re probably going to raise rates and lead us into a recession.

My natural question is: why don’t we allow the market to tell us what interest rates should be?

The answer, of course, is unpredictable monetary policy.

However, if you knew that the inflation rate was 1%, 2% or 0%, then you could make better decisions about the rates you would need to see in order to loan out your money or invest it.

But we don’t have a predictable monetary policy.

We have a board of 12 people who get together and just “do their best.”

But what if we had a global market for money?

And all assets?

There may be other causes for many of our world’s challenges today, and I’m sure there are, but I’m also recognizing that we have an opportunity to really make things better (not perfect!) by replacing the infrastructure for the global financial system, to make it not only more suited for a digital age, but more fair and more accessible.

That’s a worthwhile legacy.