Knowing who one is trading with is crucial to having large institutional players participate in DeFi, said BlackRock's head of strategic partnerships at the StateofCrypto Summit on Thursday. egreechee reports
. Given its size, its desires might have a greater shot at becoming industry rules than the often-anonymous folks who have long steered crypto.
"The first issue is, who am I trading with?...We go to jail, if we don't know who we're trading with," Chalom said of institutions such as BlackRock, adding that he is not optimistic that the digital identity issue will be solved in the short term. Issues such as the automated market making in DeFi instead of central order limits books are just fig leaves, said Chalom."We need clear understanding of who is in a pool," Chalom noted.
A panel on the future of financial services at the Coinbase State of Crypto Summit in New York, featuring BlackRock, Fidelity and Franklin Templeton.
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