Stablecoins: An Important Application of Blockchains
Jun 14, 2019
Steven Becker
Stablecoins: An Important Application of Blockchains

  Please join us Friday when our speaker will be our own Steven Becker. If you have been wondering about the arrival of cryptocurrency and what it portends for the greenbacks under your mattress, Steven should be able to help explain where we are headed. One direction is stablecoins which are defined as “cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some "stable" asset or basket of assets. A stablecoin can be pegged to a currency, or to exchange traded commodities (such as precious metals or industrial metals). Stablecoins redeemable in commodities are said to be backed, whereas those leveraging fiat money or other cryptocurrencies are referred to as unbacked.”

  Steven Becker is the President and COO of the Maker Foundation. The organization behind facilitating the development of MakerDAO. MakerDAO is a community and a blockchain protocol that generates Dai, the world’s first fully functional collateralized and decentralized digital cash.

   Steven is responsible for strategic business operations, partnerships, and marketing. An alternative investment professional with 20 years of experience, Steven owned and managed an alternative investment consulting company for six years prior to joining MakerDAO. In this role, he developed risk and investment management solutions through joint ventures in the UK as well as running a proprietary options and futures portfolio in the US.

   Furthermore, Steven previously was an owner and manager of a diversified financial services company, a company whose hedge fund was awarded for best risk-adjusted performance during the financial crisis. The private equity and securities financing arm of the company completed international deals with Areva, Rolls-Royce, Metropolitan West, and CalPERS along with a number of local resource deals of which one was listed. Steven has also been a market risk manager and interest rate derivatives trader for an investment bank before joining a startup securities financing and lending company that attempted to create a securities lending exchange.

   Steven is Chartered as an Alternative Investment Analyst (CAIA) by the CAIA Association and certified as a Financial Risk Manager (FRM) by the Global Association of Risk Professionals and remains a member of both associations. Steven is also a member of the Palo Alto University Rotary club. He has a Bachelor of Business Science degree in Finance, Financial Accounting and Economics and has completed post-graduate work in Financial Engineering all from the University of Cape Town.