Andre Cronje, who is called the father of decentralized finance (DeFi), sensationally for many called the public to regulate the cryptocurrency market. The leading blockchain developer, founder of the Yearn.Finance (YFI) protocol and several other popular digital platforms, spoke about why he considers it necessary to control the industry.
Cronje published his own essay titled “The Rise and Fall of Cryptoculture”. In the research pages, he compared two phenomena of Web3 global adoption, referring to cryptoethos and digital culture.
According to the specialist, ethos is about sovereign rights and empowerment, while culture is about wealth, common rights and talking about ego. According to Cronje, by 2022, the second concept has become the personification of cryptocurrencies and blockchain. He noted that in order for the entire technology sector not to go in the wrong direction, it is necessary to take control of the cryptocurrency industry. This will be especially important in bad times for the market. It is necessary to prevent negative consequences, and not to deal with them when they come.
The developer noted that the evolution of blockchain technology will lead the world community to a completely new economic model based on trust. According to him, this is exactly what is needed in a modern society that is mired in corruption, deceit, theft and lies.
Earlier, the editors reported that the Fantom Foundation spoke about the future of its own Fantom project after Andre Cronje left the team. Representatives of the firm said: the actions of one of the most important people in the world of decentralized finance (DeFi) will not affect the further evolution of the startup. Recently, Cronje has only acted as an adviser, but did not influence the development.