The chief scientist at nChain, Craig Wright within his recent interview discussing DeFi [Decentralized Finance] & stablecoins, called such projects a “complete scam” and “illegal.”
While addressing at the virtual conference Reimagine 2020 published recently on Saturday, the controversial figure told host Patrick MacLain that both DeFi schemes offering lending and borrowing, and stablecoins, are “illegal, unregistered as well as unlicensed.”
Creators of DeFi projects are “conmen … criminal a**holes scamming money, full stop,” he told MacLain, adding an inflammatory combat oracle networks like Chainlink.
“‘We’ve got a decentralized oracle.’ Bullshit you do! Sue me!” Wright added, making an obscene gesture to the camera.
“Where is the damn backing?” Wright asked when discussing his thoughts on stablecoins.
Wright seemed to conflate all stablecoins – cryptocurrencies that aim to carry a stable value with backing from valuable assets like the USD or gold – with Tether [USDT], a widely used USD-linked cryptocurrency that has never even revealed a comprehensive audit of all its reserves.
While on the other hand, several other stablecoins, like USD Coin, have done so.
When MacLain asked Wright for his view on decentralized exchanges, Wright claimed there was “no such thing, full stop. … The exchanges are still being operated by some individuals.”
Wright added that he’s the creator of bitcoin, but has yet to provide convincing evidence to confirm his claim and has faced allegations of fraud, that he contests vigorously via lawsuits.
“I fight in court, I’m not a cowardly you-know-what who runs away,” Wright told MacLain, taking a swipe at bitcoin investor Roger Ver, who he’s suing for libel over such fraud accusations.
Wright is additionally fighting an ongoing court case involving the estate of his deceased former business partner, David Kleiman, that relates to the partnership of a 1.1 Mln [around $12.8 Bln] bitcoin fortune.
Wright’s credibility as the supposed inventor of Bitcoin [BTC] has suffered somewhat within the process, with a judge adding that he has sometimes argued in bad faith, perjured himself, and admitted false evidence.
He further took the chance to knock bitcoin within his interview, adding that it “isn’t a decentralized network of every node running things.”
“Your node doesn’t assist the network unless you are a miner,” he added.