Centrifuge, Connecting Real World Assets with DeFi

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Relay Chain

Parity Technologies

48 episodes

9 months ago

Relay Chain is a podcast covering blockchain development and building the decentralized web. We focus on the cutting edge of blockchain tech, including Substrate (https://parity.io/substrate) and Polkadot (https://polkadot.network). Brought to you by Parity Technologies (https://parity.io), a core blockchain infrastructure company. Parity is creating an open-source creative commons that will enable people to create better institutions through technology. Follow us at @paritytech (https://twitter.com/paritytech) and @relaychain (https://twitter.com/relaychain). To be informed of new episodes, subscribe to the podcast and our newsletter (https://parity.io/newsletter).

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Centrifuge, Connecting Real World Assets with DeFi

Relay Chain

57 minutes 11 seconds

3 years ago

Centrifuge, Connecting Real World Assets with DeFi

This week Jorrin Bruns (Support Engineer, Parity Technologies) is joined by Cassidy Daly, token design and research specialist at Centrifuge, a Substrate-based blockchain that recently won a parachain slot on Polkadot. Centrifuge aims to bring an archaic financial system into the Web3 space, enabling users to unlock financing for their real world assets by bringing them on-chain.

Daly describes why the team chose Substrate to build Centrifuge and its canary network Altair, and why Centrifuge became a Polkadot parachain: to reconcile issues with Ethereum including scalability and fees, and the difficulty in maintaining an ETH bridge. They also discuss bringing the Tinlake DApp from Ethereum over to Centrifuge to tap into the specialization between interoperable parachains and drive efficiencies, lower the cost of financing and guarantee the custody and ownership of physical assets on-chain.

Useful Links
Centrifuge's website
Tinlake's website
Altair's website
Kilt's website

Highlights
01:47 What is Centrifuge?
07:27 Creating real-world assets on Centrifuge to use on Ethereum
12:10 Integrations with MakerDAO and Aave
15:55 Guaranteeing custody of physical assets on-chain
22:40 Centrifuge’s potential uses cases
26:15 Use cases of Altair vs Centrifuge parachains
33:25 Decentralizing Altair
36:50 Altair roadmap and the NFT studio DApp
44:10 Building functionality into the runtime
46:37 How Centrifuge fits into DeFi 2.0
49:20 Plans for Centrifuge as a Polkadot parachain

Special Guest: Cassidy Daly.