on the blockchain

Stablecoin mechanisms and use cases.

Patrick McKenzie (aka patio11) reluctantly talks about cryptocurrency. “In principle, you could use stablecoins as money, like how you use deposits as money. Stablecoins are not used like money; rather than facilitating almost the entire diversity of transactions in the […]

tech, startups, internet

Why finance is such a hard industry for startups

Patrick McKenzie, the author of How Discount Brokerages Make Money, has 100 insightful thoughts on financial services. “Geeks underestimate technical sophistication of the financial industry by a scandalous amount, largely because most of it happens below the waterline and not in […]