Kathleen discussed how DAO could improve the existing financial ecosystem disconnection in respect to accessibility, liquidity, flexibility and the control right owned by individuals.
Maker is public resources, a public toolkit. Dai offers new way to think of money by “reduce systemic rent-seeking from the point of money creation.” No traditional currency is available to anyone anywhere. However, it can be solved by Dai, a stable and decentralized currency that you have the right to control and generate.
How Dai works:
- Unit account of Dai is $1 at target price
- Dai as an exchange medium
- Dai’s store of value
- Dai supply is user-generated against user’s assets as collateral; Dai’s demand come from bank free mobile money, remittance, and micro-finance loans. Risk governance balances Dai supply and demand.
4 user cases of Dai:
- Social project: disaster relief program, donations and crowdfunding, sending Dai instantly to people in need.
- Business application: payment, tokenization of invoices and etc,.
- DeFi: trading, loans and leverage
- financial inclusion, as a way to avoid inflation.
