Unearthing the keys to innovation
EP. 09 | THE INNOVATION COOKBOOK
When Patrick Baron learned about cryptocurrency from a colleague at a retail bank in 2013, his intrigue sparked a timely exploration of the technology and its potential applications. Several years, prototypes, and iterations later, Patrick is now leading his own three-fold charge in the rapid-emerging realm of crypto; as a steward of Celo Community Fund, GP at Vladiator Capital, and founder of blockchain non-custodial money market, Moola Market, Patrick is materializing his vision of building impactful technology that democratizes access to yield and credit.
- Patrick is materializing his vision of building impactful technology that democratizes access to yield and credit. He speaks about the general profile of a borrower in Moola.
- He explains the difference between traditional markets and stock markets, like NASDAQ and the automated maker market.
- When asked about how the crypto ecosystem behaves, Patrick reveals his opinion about how this new ecosystem realigns incentives to create a thriving environment with many different types of participants.
- Patrick adds that in the crypto ecosystem, if your goal is to experience the freedom to do whatever you want with money—whenever you want—there are many different tools you can use.
- Per Patrick, if you aren't looking for exponential growth and understand that crypto will unlock tremendous amounts of capital that didn’t exist before, you'll understand that the crypto ecosystem is going to bloom over the course of coming decades.
- When Andrew asks whether crypto is more a force of good or a force of bad, Patrick makes an analogy with the internet, which generated a lot of debate in its early days, but its moral compass depends on who’s using it.
- The best way to understand the NFT is to understand what a fungible token is. A US dollar is equal to all paper $1 bills I can hand you, while a non fungible token means that when I hand it to you it’s a snowflake, it is unique, it is the only one that exists, in a cryptographic sense.
“The general profile of a borrower in Moola is either somebody who’s looking to unlock capital, unlock value from their assets, to use for purchasing something else, putting to work into another financial instrument. Or a speculator who wants to leverage and magnify gains. Or a speculator who thinks that the price of an asset is going to drop.”