• Søren Peter Nielsen

    Søren Peter Nielsen is Head of Product at MakerDAO where he does Product Management for the system that creates Dai – the first fully-decentralized asset-backed stablecoin on Ethereum. A stablecoin is a cryptocurrency that has low volatility relative to commonly used fiat currencies, making it significantly more useful as digital money. MakerDAO sponsored the conference. Again we want to thank MakerDAO for the financial support.

The Dai Credit System, A new infrastructure for financial applications on the Blockchain

Summary:

  • 1 Dai = $1
  • Maker keeps Dai at $1 using a system of collateral and price feeds. This collateral is carefully managed by the MKR token holders.
  • MKR holders act as a buyer of last resort.
  • Smart Contracts are blockchain magic.
  • Global settlement provides a final layer of safety.
  • You need stablecoins to realize the full potential of blockchain technology.
  • Maker also provides decentralized leverage, which is awesome.
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