The FIRST decentralized stablecoin: DAI. How does it work?

DAI is the first decentralized, collateral-backed cryptocurrency. It strives to maintain a stable 1:1 value with the U.S. dollar by locking other crypto assets in contracts, and it is run by a decentralized application on the Ethereum blockchain rather than a centralized company.

The open-source software behind DAI is called the Maker Protocol, and the governance token of the system is called MKR.

Paul Puey (Edge CEO) and I explain how exactly it works.

We also put our money where our mouths are: we each decide whether to invest $100. This is not investment advice, we're just giving you a peek into our own portfolios and how we make decisions for ourselves. Keep in mind, I'm more interested in the team, the tech, and whether it's a cool project than in short term gains.

If you’d like to see my extended interview with Nik Kunkel, MRK/DAI dev, head to the members' content at https://NaomiBrockwell.com/memberships

To have your question answered on the show, send a message to https://cointr.ee/naomibrockwell

If you would like to send me a message and support my channel, visit https://cointr.ee/naomibrockwell
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Huge thank you to all the supporters who keep this channel running!

To watch on LBRY: https://open.lbry.com/@NaomiBrockwell:4/The-FIRST-decentralized-stablecoin-DAI-How-does-it-work-:0?r=JBjAdauAdeysMGVDbHMJpNSQzbcMyqYg

Here are a bunch of products I like and use. Using these links helps support the channel and future videos!

Recommended Books:

Permanent Record - Edward Snowden
https://amzn.to/305negc

What has the government done to our money - Rothbard
https://amzn.to/2KMzmcu

Naomi's Privacy Bag: some of my favorite products to help protect your privacy!

Use the Brave browser! https://brave.com/nao076

USB-C to ethernet adapter:
https://amzn.to/2lOVBoy

Lightening to ethernet adapter:
https://amzn.to/2nWyNns

Faraday bag wallet (signal stopping, to protect your fob, credit card, and phone)
https://amzn.to/2SUkPhu

Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)
https://amzn.to/2SVh0J2

Computer privacy screen (use your computer in public? Keep your information safe!)
https://amzn.to/2SXYHmf

Phone privacy screen (don't let people in public see your private data)
https://amzn.to/2YyJMnH

Camera cover (for computers and phones, so no one can access your camera without you knowing)
https://amzn.to/2Mt7Hic

Privacy Tip: Don't use wifi, and if you must, append the tag ‘_nomap’ or ‘_optout’ to your SSID to stop other websites tracking your location.