Tag: Hawala

[ad_1] In a history of dangerous naivete, the decentralized finance frenzy of 2021 will hold its own against the surge in collateralized debt obligations of 2007. The world had to face a financial crisis to be wiser CDO, which repackaged risky mortgage bonds to make them safer than before. “CDOs are nothing but a massive Ponzi scheme,” said the villain of a fictional account of the 2008 recession. How long would it take to learn that blockchain-based lending is equally reckless? The idea that one could bypass regulated intermediaries such…