This is the story of an idea that took 5 years to blossom. It started with a manual task, turned into various apps and now a mission to help people.
Five years ago, my roommate and I took on a challenge. In an attempt to build better habits, we put a calendar on the wall to check off if we completed all our habits for the day — read, exercise and meditate.
Months went by and the challenge changed us. Fast forward two years later, I decided to create an app out of this idea. I taught myself how to code and soon after launched Habit Streaks. …
The financial stack outlined in this post is the set of technologies that enable decentralized financial applications and services.
A user recently took out a $10k USD loan denominated in DAI (a stable coin) via Bloqboard (a relayer for loans) on Dharma (a debt protocol) and then converted the principal from DAI to BAT via Bancor (a decentralized exchange) — all on Toshi (a browser that provides access to financial services).
No middlemen, within minutes and all that was needed was a phone.
We already have a functioning financial system, why try to rebuild it on the blockchain?
While blockchain as a platform is slow and costly when compared to what we have available today, it does have one property that no other platform enables: trust. The blockchain relies on cryptography and economic incentives instead of promises as its source of trust. Just like we can all agree that 1 + 1 = 2, we can mathematically verify that certain things are true on the blockchain. …
2017 was the year of the ICO. More than $2B were invested into tokens. This points to a very real and unmet demand from retail investors for assets with equity-like risk profiles. In the real-world, equity is a much smaller asset class than debt. Naturally, it makes sense to port the world of debt to the blockchain.
Dharma is a protocol for tokenized debt. It creates a common standard that all stakeholders can use to administer tokenized debt assets throughout their life cycle.
Debt is a massively varied asset class, and, in theory, virtually any type of debt agreement could be issued and underwritten via Dharma protocol. …