Chapter
The Future of Decentralized Finance and its Implications for Governments
13:03 - 18:19 (05:15)
The rise of decentralized anonymized wallets and other developments in decentralized finance (DeFi) such as Ethereum 2.0 and ERC 20 contracts is likely to create challenges for governments seeking to tax financial assets. However, proponents of DeFi argue that these developments will lead to a more legitimate financial system and decreased focus on physical currency.
Clips
The government's ability to monitor and tax financial transactions becomes more challenging with the rise of decentralized finance, but it also has the potential to create a more legitimate system.
13:03 - 18:19 (05:15)
Decentralized Finance
Summary
The government's ability to monitor and tax financial transactions becomes more challenging with the rise of decentralized finance, but it also has the potential to create a more legitimate system. Despite the focus shifting away from traditional forms of money, a solution still needs to be found for taxation purposes.