Historically, banking, lending and trading have been managed by centralized gatekeepers. Regular consumers depend on financial middlemen to get access to everything from auto loans and mortgages to trading stocks and bonds. However, a new system challenges this centralized financial system by disempowering gatekeepers, and enabling everyday people via peer-to-peer exchanges. Chicago man Isaac Masters joined this new wave Wednesday morning, when he decided to decentralize his portfolio, and relationship.
“Decentralized finance is an unbundling of traditional finance,” explained the 27-year old trader in a zoom call with Hard Money. “DeFi takes the key elements of the work done by banks, exchanges and insurers and puts it in the hands of regular people. Decentralized dating is similar; I’ve shifted the decision making and power away from my girlfriend, and into the hands of my boys.”
As his girlfriend yelled in the background, Masters gave us more insight into his world. “When you make a transaction in your conventional checking account,” he continued, “it’s recorded in a private ledger which is owned by a large financial institution. Blockchain is a decentralized, distributed public ledger where financial transactions are recorded in computer code, and The Boys are the blockchain of my social life.”
Decentralization isn’t the only concept from the world of finance Isaac has repurposed for his love life. “I’m finding that diversification, a key for any successful portfolio, is also great for a relationship.”
By Wednesday evening Isaac’s girlfriend had broken up with him, but his investment in Bitcoin Cash was paying off.