Monday, December 23, 2024
HomeDeFiCrypto ethos has been strangled by crypto culture: Andre Cronje

Crypto ethos has been strangled by crypto culture: Andre Cronje

In a blog post published Monday, popular DeFi architect Andre Cronje criticised the nature of “crypto culture,” stating that it violates the ethos of the growing ecosystem.

According to Cronje, the drive for wealth in crypto culture is stifling the more noble objectives associated with the crypto ethos.

Cronje stated:

“I’ve long been open about my disdain for crypto culture and my love for the crypto ethos. That may seem strange, but crypto ethos is a concept similar to self-sovereign rights, self-control, and self-empowerment. Wealth, privilege, enrichment, and ego are all ideas in crypto culture.”

Cronje also said that many cryptocurrency developers lack a basic knowledge of monetary policy. He believes DeFi developers seem to study Wikipedia pages on bonds, debt instruments, and seigniorage and believe “they can do it better.”

According to the article, today’s crypto developers seem to be replicating the same errors committed by those who developed mainstream finance’s current monetary policies.

The well-known DeFi developer called for further regulation, claiming that a strong legal framework is required to safeguard players. Cronje predicted the creation of a new crypto economy driven by trust rather than greed under such a legal framework.

Related Posts:

Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

4 × 2 =

- Advertisment -

Most Popular