More

    Compound General Counsel Welcomes Prominent Crypto-Minded Lawyer Jake Chervinsky

    Jake Chervinsky recently took to Twitter to announce that he will be taking a new role of General Counsel for Compound Finance.

    Compound Finance is an algorithmic, open-source protocol that allows for the creation of money markets on the Ethereum blockchain. Individuals and institutions are able to earn interest on digital assets that they supply to the protocol. Whilst those that are seeking to borrow digital assets can do so directly from the protocol itself, without having to negotiate with a counterparty or peer.

    In a blog post explaining his move, he writes:

    “Compound is building a decentralized protocol for autonomous interest rate markets on digital assets, a key piece of infrastructure for the open finance movement. In my view, open finance (or “DeFi”) strikes at the heart of cryptocurrency’s prime use case: creating a fairer, more transparent, and more accessible financial system for the world. This goal originally sparked my passion for crypto, and I couldn’t be happier about devoting my full energy to helping Compound achieve it.”

    He cites 3 reasons why he thinks Compound’s money market protocol is among the most interesting and important. They are decentralizing the risk-free rate, promoting control over personal finances, and securing long and short positions.

    Regarding his role with the company, he says that he will be handling all of the company’s legal needs. Currently, many companies are struggling with regulatory uncertainty with US lawmakers unable to pass laws around the crypto ecosystem. He is confident that with the right education, regulators and elected officials will come to appreciate the revolutionary goals that open finance seeks to achieve.

    If you were wondering why this news is important, even Anthony Pompliano Tweeted about it.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Sritanshu Sinha
    Sritanshu Sinha
    Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,262FansLike
    2,712FollowersFollow
    4,095FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Uzbekistan Gov't And Cardano’s Emurgo Partner On Blockchain Task Force For STO Regulations

    Emurgo, Cardano’s blockchain commercial wing, has inked a partnership deal with the Uzbekistan government to help with setting up a task force which will...

    Binance Adds 2nd Fiat To P2P Trading Platform, Vietnamese Dong VND-To-Crypto Now Open

    Binance crypto exchange announced the second fiat currency on their peer-to-peer (P2P) platform on Monday, January 20, 2020. The Vietnamese Dong (VND) was...

    Fed’s “Not” QE Pushing Dow and S&P 500 to ATH makes Investors Nervous, Driving them into Bitcoin

    Buy Bitcoin today while the US Stocks markets stay closed in observance of Martin Luther King Jr. Day Federal Reserve Chairman Jerome Powell might...

    Crypto Payment Processor BitPay Adds XRP Support On Apple iOS And Android

    BitPay, a crypto payment service which provides users a wallet as well as gift cards which can be bought using different coins, is now...

    $7 Trillion AUM Giant Fidelity Posts Job Opening For Bitcoin Mining Engineer

    Fidelity is looking to expand operations and as a result, is hiring a Bitcoin (BTC) mining engineer to help with the design, maintenance, and...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.