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Crypto Hedge Funds Explored | Eric Wall Interview (2020)


Eric Warwick name who Just the Goddamn John. Let's be honest. We wanted a lot more about what he does. Thank you so much for Tonga's thanks for. Thanks for early on you to this as I look for all the energy the tillery a little bit about your background. What you do Yeah so I was the blockchain lead for a company called sin over and it's not. It's not a company that most people know about but we were the largest competitor versus Nasdaq in the exchange business. So we build the technology for the Metal Exchange Securities Exchange and we build the. We were the market leader in building clearing systems so we built that for the traditional markets. I joined the company as a structure. They blockchain strategy. So I worked there building. Enterprise solutions for how to settle a securities on a on a distributed ledger. I did it for a while eventually. I did get bored of that because I kind of I kind of found out that I originally got into the space excited crypto. And then after. You're getting excited about crypto. You get excited about the technology so working on blockchain stuff and then. I found in amazing interest in the financial industry and using this for their stuff however at the end of it I kind of realized that okay so I got tricked into building database synchronization mechanisms for financial institutions. That's not very disruptive and I. I think that I've lost belief in that. The incumbents of the industry can really change by using new technology. I think that the change is GonNa come from outside. I think it's GonNa come from block. The public watches like bitcoin theory. So I wanted to move away from that so when I did this the at Snowbo- started to build Cryptocurrency exchanges. So we built a matching engine that we sell soul to them and then we got acquired by Nasdaq. You built that. I was the project lead and the architect of of of of the specific components that would make our matching engine work with cryptocurrency engines. So I wasn't the architect of the matching engine I just made it work for cryptocurrency basically and so yeah but after the Nasdaq's acquisition unfortunately Nasdaq is a bit more about blockchain. Then crypto. So that's why I left them. Did my own. I'm doing my own thing now which is starting a cryptocurrency fun. So let's get into that we do. I mean that's expecting my supply of you being true to what you really love. Cook Day walk kind of what the application of block China's venues a through many big centralized companies one of the world. But we know that we very where it's the buzzword toting what China's longtime that would you left that because you deals about what tripped or. How does the decision was that the Mike Was it? Just an as you will but you know what I love this. This is where I want. Yeah I mean I. I realized that after about one year of working with enterprise solution that it wasn't at all what I signed up for the beginning so I got interested in Bitcoin around two thousand twelve and started trading and after that I became interested in technology. I was studying computer science at the time so I had the opportunity to align my studies with my interest in Bitcoin and so I began studying the blockchain technology I've ever technical level and I did write a master thesis on our Walk Technology Works and then I found that the the space which bitcoin occupies. It's it's an. It's a mix of so many different aspects. That makes it so interesting. It's game theory politics. Monetary theory psychology markets. Everything if you are intellectually curious person there is nothing more. There's no space this more interesting than the space to be. Because there's so many different facets can interact with and you can challenge yourself every day. So that's why I want to be and I didn't feel that type of intellectual stimulation from the enterprise space because you know what I mean. They sat in the beginning. We're going to be a little bill. Decentralized architectures for that for financial enterprise but but if you look at technically like how some of these platforms work so I began. Working with the hype. Alleged fabric platform and I was trying to use that to build a securities settlement system for central securities fosters. However that was in two thousand fifteen when they launch. Still to this day they don't have a Byzantine full-time consensus algorithm which means they haven't sold the centralization problem they still have centralized architectures which they call Mark Chernoff wondering reality. They're not so what's what's the intellectual challenge they're just building regular type of software for financial companies and couldn't get better over time. I don't know but but if you look if you look at what's going on like the defense base that's just you know all the innovations happening in the public blockchain space right now. So that's that's kind of where you WANNA be. If you're interested in this from like technical talking about becoming a theater a lot of people say a lot of things about five at the moment of course there's the divide this with. Bitcoin is sign of the theory of just going to go to nothing doing nothing. Nothing where do you stand on? That saw things main. Do you have an opinion on what the real big Wayne is? And all this back and forth between these warring parties so to speak and also isn't there don- yeah so the thing that bitcoin. What makes bitcoin interesting and unique is that you have for for for for a precious metal like gold. You have these attributes that makes gold valuable. It's it's the fixed supply if you WANNA get the digital assets to behave sort of like a precious metal then the rules. I mean the the physical world. The roofs are enforced upon the item by natural law. So if you WANNA make a digital item that can compete at that level. You've gotTa have those same. I mean you've got to have a really strong mechanisms to keep the rules of the item intact because if they're vague everybody can change it and it's not valuable so bitcoin The the main the BTC is the one that is focused most strongly on maintaining the properties of the system. And that's the only way if you WanNa create something like digital go. It's all about having something with predictable. Strict you know properties. That you so that you can look at the supply and say well this is only going to be a twenty one million so the rules have to be in a very constrained and rigid in order for it to behave like a precious method so that people can be with us at digital and that's I think the easiest case for cryptocurrencies to to to to challenge is digital store value property. So when I'm saying that a lot of people would consider me. Bitcoin maximalist all those roles from late. Yes what are your thoughts on that? Yeah so theorem is an extremely complex project. And they're trying to Innovating complex ways. I think there are two things that make six theory extremely attractive. And it's that the what they're trying to do in the second layer scaling solutions. It has promise. So the the turing completeness of the bitcoin sorry Theorem scripting language. Those allow you for more complex Second layer contracts and those are showing promise so that's one very promising thing about the second. The second promising thing is the defy space so I think some people are brushing off defiance as a fad. But what it's really about this building financial primitives smart contracts and a Theorem and allowing those to interact and composed with each other so that you get an ecosystem of financial apps that you can leverage us and the Nice thing about it anybody can build and tweak one of those components and put them together in various ways and anybody can interact and use the services for free without checking some. Some of them have feast. But I mean you don't have to sign a paper you don't have to diagreement. And that the programs execute the way that you want him to to sort of collaborative computing for finance and the of permission less innovation that opens up for is going to be used. I used to work in the traditional financial space if If somebody would come up to an exchange that we that is operational for example in the long the Metal Exchange. And they say okay. So let's take a securities exchange. We want we want to distribute the security according to a specific auction If they want to tweet the parameters of that ultra then the exchange has to go to the technology provider and ask them to build a whole new thing yet. Costs a lot of money.

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