Starby Four

According to this article, the total value of the losses from 122 attacks in 2020 would be worth $3.8 billion today. We know how some hackers passed away their time during the lockdown: By running Bitcoin-related hacks and potentially netting “nearly $3.78 billion” in 2020, according to a report from Atlas VPN. Data collected by Slowmist Hacked showed that there were 122 attacks in 2020, targeting three major areas: –Decentralized apps running on the Ethereum platform had 47 attacks (current value $437 million)  –Cryptocurrency exchanges had 28 attacks (current value $300 million in losses) –27 attacks on blockchain wallets Via ZDNet—Billions were stolen in blockchain hacks last year

This article from the Financial Times looks at the algorithms and blockchain technology that may be required for 21st century regulation. DeFi turns all this on its head. It leverages blockchain technology to deliver services with no human intermediation. One example is creating money markets with algorithmically derived interest rates based on supply and demand — rates that traditional banks set by committee. Other DeFi projects include decentralised exchanges that allow users to trade without brokers, and protocols for lending that do not involve loan officers or credit committees. Although these “self-driving banks” are new, they are not small. They are likely to be mainstream before self-driving cars start to…