Omid Malekan is the Explainer-in-Chief of blockchain technology. He is an adjunct professor at Columbia Business School, where he lectures on blockchain and crypto. In addition to Re-architecting Trust, he is also the author of The Story of the Blockchain: A Beginner’s Guide to the Technology That Nobody Understands. An eight-year veteran of the crypto industry, he spends most of his time as a consultant, educator, and advocate for this new way of building trust. He advises individuals, investors, and seed-stage startups to Fortune 100 companies. Malekan’s essays on crypto and related topics have appeared in the New York Times, Wall Street Journal, Financial Times, Spectator Magazine, various industry publications, and his blog at Medium.com. Prior to his work with crypto, he was best known for several viral videos in the heyday of YouTube, an animated one of which found its way into the financial zeitgeist, possibly to the chagrin of former Federal Reserve Chairman Ben Bernanke. Malekan has spent years being confused about crypto, so you don’t have to be. When not writing or teaching, he plays the part of ambassador, sitting between the people who push the envelope on what is possible and those who will be impacted should they succeed. He resides in a quiet corner of the Metaverse. Learn more about his work at omidmalekan.com.
One of the leading arguments against crypto is its volatility. In the wake of the most recent downturn, critics have doubled down on this point. But the argument misses an important insight about how crypto assets differ from those in traditional finance. While different coins are meant to serve different functions, today they all more or less act as startup equity — and often serve as hybrid assets, treated as commodities, currency, store of value, and incentive for the validators that make a project function. Unlike traditional equity, crypto assets have liquidity and price discovery from the start. This does mean that crypto markets are more sensitive to signals and changes. The overlooked feature of this, however, is that price swings communicate important information to founders and investors, and builds previously unseen levels of transparency into the system.
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Omid Malekan, adjunct professor at Columbia Business School, explains what could be next for stablecoins after Terra's meltdown.
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The second they turn on user withdrawals again, every single user is going to withdraw every single penny.