There is a lot of hype surrounding cryptocurrencies and DeFi technology, with excitement around the potential innovations they offer financial systems. Often lacking in the discussion is an objective and critically informed viewpoint, leading to confusion and misunderstanding. In today’s conversation, we get the balanced perspective that we need with Professor Hilary Allen, who has a wealth of experience in banking, law, financial regulation, corporate finance, and business administration. She is a law professor at the American University of Washington College of Law and her research focuses on the impact of new financial technologies on the stability of the current finance system. She has written many academic papers on the subject, including the book Driverless Finance, which provides readers with a balanced perspective on the opportunities and threats of fintech innovations. In our candid and fascinating conversation with Professor Allen, we learn about the threats and opportunities DeFi technologies pose to the financial system. We hear what shadow banking is, the similarities that decentralized finance has with shadow banking, the risks of cryptocurrencies, if innovation in finance is always positive, why regulation is essential, whether DeFi is actually decentralized, the basics of stablecoins, how you can help affect change in the financial system, if you should invest in cryptocurrencies, and much more. Tune in to get the clarity you need about the world of crypto with expert Professor Hilary Allen! Participate in our Community Discussion about this Episode: https://community.rationalreminder.ca/t/understanding-crypto-10-discussion-thread/18437 Book From Today’s Episode: Driverless Finance: Fintech's Impact on Financial Stability — https://amzn.to/3oRCdnY Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Shop Merch — https://shop.rationalreminder.ca/ Join the Community — https://community.rationalreminder.ca/ Follow us on Twitter — https://twitter.com/RationalRemind Follow us on Instagram — @rationalreminder Benjamin on Twitter — https://twitter.com/benjaminwfelix Cameron on Twitter — https://twitter.com/CameronPassmore Prof. Hilary Allen on Twitter — https://twitter.com/ProfHilaryAllen 'DeFi: Shadow Banking 2.0?' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4038788 'What Is 'Financial Stability'? The Need for Some Common Language in International Financial Regulation' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2484070 'Driverless Finance' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3366016 'Testimony of Hilary J. Allen, U.S. Senate Committee on Banking, Housing, and Urban Affairs Hearing on 'Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3989323