Climate change is an undeniable threat, but we can do something about it and the MakerDAO founder has a solution- MakerDAO should get involved in making a difference today!
MakerDAO CEO Rune Christensen recently spoke about the need for MakerDAO to help solve this problem. He described different aspects of this issue in the latest Bankless podcast, but here the main focus was on the need for a purpose-driven rather than profit-focused DAO.
MakerDAO’s Founder Rune Christensen Recognizes The Need For Real Solutions
Christensen described different aspects of this issue in the latest Bankless podcast, but here the main focus was on the need for a purpose-driven rather than a profit-focused DAO. He highlighted the importance of a “clean money” trigger, stating,
“I came up with this concept of centering everything around this clean money vision. And the question of DAO’s, how a DAO should organize and this concept of a purpose-driven DAO, versus a profit-driven DAO. I think that’s a real age old kind of issue…”
Presently, the “fundamental game-theoretic problems” with DAOs include attacks on governance. If someone controlled the majority of votes, as with DeFi, they would be able to steal all the assets in the protocol.
“Bitcoin itself was driven by the same thing.” Christenses stated, adding that “the toxic maximalism was a way for Bitcoiners to work together towards a greater good.”
Also, the economic and environmental crises have surged, which together with the existing political instability could very easily result in hyperinflation for the US dollar.
Global warming has remained ignored by the current financial system. How can this be changed? To this, Christensen responded,
“…reality of climate change is that it’s not possible in the physical world. Unfortunately you don’t get these complete exponential transformations, it’s very incremental, what’s possible to do.”
The executive had written a post earlier on steps platforms could take to combat climate change concerns. Among them was ensuring MakerDAO’s commitment to decentralized collateral.
MakerDAO to Consider The Sustainable Development Concerns
“Not just sort of the direct risk of an asset, but then also the external risk that this asset produces for everything else..,” he stated.
Meanwhile, Maker remains optimistic about the approach and remains optimistic about the way it impacts Société Générale; other banks start to consider environmental issues and considerations too.
It is worth noting that Société Générale (SocGen), a French multinational banking giant, has requested that the DeFi lending platform accept on-chain bond tokens originating from the bank as collateral for a stablecoin DAI loan.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
