\u00a0\u6700\u8fd1\u767a\u8868\u3055\u308c\u305f\u8ad6\u6587<\/a> \u5206\u6563\u578b\u91d1\u878d\u306f\u30012000\u5e74\u4ee3\u5f8c\u534a\u306e\u91d1\u878d\u5371\u6a5f\u306b\u5148\u7acb\u3064\u73fe\u8c61\u3067\u3042\u308b\u300c\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u300d\u306e\u904e\u3061\u3092\u7e70\u308a\u8fd4\u3057\u3066\u3044\u308b\u3068\u4e3b\u5f35\u3057\u307e\u3057\u305f\u3002\u30a6\u30a9\u30fc\u30c8\u30f3 \u30b9\u30af\u30fc\u30eb\u306e\u6559\u6388\u3067\u3042\u308b Joanna Green \u3068\u5171\u540c\u57f7\u7b46\u3057\u305f Allen \u306e\u8ad6\u6587\u306f\u3001\u300cDefi \u306f\u65b0\u3057\u3044\u30b5\u30d6\u30d7\u30e9\u30a4\u30e0\u3067\u3059: 2008 \u5e74\u304b\u3089\u306e\u5206\u6563\u578b\u91d1\u878d\u306e\u6559\u8a13\u300d\u3068\u984c\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n\u30a2\u30ec\u30f3\u306f\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3001\u30c7\u30d5\u30a3\u306f\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u306e\u540c\u3058\u30e2\u30c7\u30eb\u306b\u57fa\u3065\u3044\u3066\u3044\u308b\u305f\u3081\u30012008\u5e74\u306e\u5371\u6a5f\u306e\u7e70\u308a\u8fd4\u3057\u3067\u3042\u308b\u3068\u4e3b\u5f35\u3057\u3066\u3044\u307e\u3059\u3002\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u306f\u3001\u5f93\u6765\u306e\u9280\u884c\u6cd5\u3067\u898f\u5236\u3055\u308c\u3066\u3044\u306a\u3044\u6d3b\u52d5\u306b\u8cc7\u91d1\u3092\u63d0\u4f9b\u3059\u308b\u305f\u3081\u306b\u50b5\u52d9\u3092\u4f7f\u7528\u3059\u308b\u6163\u884c\u3067\u3059\u3002\u3053\u308c\u306b\u306f\u3001\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30a8\u30af\u30a4\u30c6\u30a3\u3001\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u306a\u3069\u304c\u542b\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n
\u3053\u306e\u8ad6\u6587\u306e\u4e2d\u3067\u3001\u30a2\u30ec\u30f3\u3068\u30b0\u30ea\u30fc\u30f3\u306f\u3001\u5f93\u6765\u306e\u9280\u884c\u30b7\u30b9\u30c6\u30e0\u306e\u5916\u3067\u306e\u501f\u308a\u5165\u308c\u3068\u8cb8\u3057\u51fa\u3057\u306b\u57fa\u3065\u3044\u3066\u3044\u308b\u305f\u3081\u3001Defi \u306f\u30b7\u30e3\u30c9\u30fc \u30d0\u30f3\u30ad\u30f3\u30b0\u3067\u3042\u308b\u3068\u4e3b\u5f35\u3057\u3066\u3044\u307e\u3059\u3002\u30a2\u30ec\u30f3\u306e\u8ad6\u6587\u306f\u3001DeFi \u306e\u9769\u65b0\u7684\u306a\u501f\u5165\u3001\u8cb8\u51fa\u3001\u4fdd\u967a\u3001\u304a\u3088\u3073\u652f\u6255\u3044\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u53d6\u308a\u5dfb\u304f\u9ad8\u5ea6\u306a\u8907\u96d1\u6027\u304c\u3042\u308b\u3068\u3044\u3046\u3082\u306e\u3067\u3059\u3002\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c7\u30d5\u30a9\u30eb\u30c8\u30fb\u30b9\u30ef\u30c3\u30d7\uff08CDS\uff09\u3084\u50b5\u52d9\u62c5\u4fdd\u8a3c\u5238\uff08CDO\uff09\u304c\u91d1\u878d\u5371\u6a5f\u4ee5\u524d\u306e\u4e0d\u52d5\u7523\u30d0\u30d6\u30eb\u3067\u52a9\u9577\u3057\u305f\u8feb\u308a\u6765\u308b\u30ea\u30b9\u30af\u306b\u3064\u3044\u3066\u306f\u3001\u660e\u3089\u304b\u306a\u4e0d\u660e\u78ba\u3055\u304c\u898b\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n
Allen \u306f\u3001\u300c\u8907\u96d1\u6027\u306b\u3088\u3063\u3066\u5f15\u304d\u8d77\u3053\u3055\u308c\u308b\u4e0d\u900f\u660e\u6027\u306f\u3001\u305d\u306e\u3088\u3046\u306a\u30ea\u30b9\u30af\u304c\u826f\u3044\u6642\u671f\u306b\u306f\u904e\u5c0f\u8a55\u4fa1\u3055\u308c (\u30d0\u30d6\u30eb\u3092\u5f15\u304d\u8d77\u3053\u3057)\u3001\u60aa\u3044\u6642\u671f\u306b\u306f\u904e\u5927\u8a55\u4fa1\u3055\u308c\u308b (\u30d1\u30cb\u30c3\u30af\u3092\u60aa\u5316\u3055\u305b\u308b) \u53ef\u80fd\u6027\u3092\u9ad8\u3081\u307e\u3059\u300d\u3068\u66f8\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n
\u3053\u306e\u610f\u898b\u3092\u6301\u3064\u306e\u306f\u30a2\u30ec\u30f3\u3060\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u72ec\u7acb\u7cfb\u7814\u7a76\u8005\u306e Hasu \u306f\u307e\u305f\u3001Defi \u306e\u6210\u9577\u306f\u5371\u6a5f\u4ee5\u524d\u306e\u72b6\u6cc1\u3092\u5f77\u5f7f\u3068\u3055\u305b\u308b\u3068\u4e3b\u5f35\u3057\u3066\u3044\u307e\u3059\u3002\u6700\u8fd1\u306e\u30d6\u30ed\u30b0\u6295\u7a3f\u3067\u3001\u5f7c\u306f\u300c\u5408\u6210\u8cc7\u7523\u3068\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e\u7206\u767a\u7684\u306a\u6210\u9577\u300d\u304c\u300c\u5371\u6a5f\u4ee5\u524d\u3068\u4e0d\u6c17\u5473\u306b\u4f3c\u305f\u72b6\u6cc1\u300d\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u308b\u3068\u66f8\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n
2020 \u5e74\u4ee3\u306e Defi \u30a4\u30ce\u30d9\u30fc\u30bf\u30fc\u3068 2000 \u5e74\u4ee3\u306e\u30a6\u30a9\u30fc\u30eb\u8857\u306e\u30a4\u30ce\u30d9\u30fc\u30bf\u30fc\u3068\u306e\u5727\u5012\u7684\u306a\u9055\u3044\u306f\u3001\u5f8c\u8005 (\u9280\u884c\u5bb6) \u304c\u5305\u62ec\u7684\u306a\u653f\u6cbb\u7684\u67a0\u7d44\u307f\u306e\u4e2d\u3067\u6d3b\u52d5\u3057\u3001\u524d\u8005 (\u6697\u53f7\u958b\u767a\u8005) \u306f\u5f71\u97ff\u3092\u53d7\u3051\u3066\u3044\u306a\u3044\u3053\u3068\u3067\u3059\u3002\u9280\u884c\u5bb6\u306f\u3001\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\u306e\u6d41\u52d5\u6027\u3078\u306e\u7279\u6a29\u7684\u306a\u30a2\u30af\u30bb\u30b9\u306b\u3088\u308a\u3001\u90e8\u5206\u6e96\u5099\u8cb8\u4ed8\u3092\u901a\u3058\u3066\u65b0\u3057\u3044\u901a\u8ca8\u3092\u4f5c\u6210\u3059\u308b\u529b\u3092\u6301\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u5f7c\u3089\u306f\u56fd\u50b5\u3092\u58f2\u8cb7\u3059\u308b\u529b\u3092\u6301\u3063\u3066\u304a\u308a\u3001\u4f55\u304b\u304c\u3046\u307e\u304f\u3044\u304b\u306a\u304b\u3063\u305f\u5834\u5408\u306b\u306f\u6551\u6e08\u63aa\u7f6e\u304c\u5e38\u306b\u5b58\u5728\u3059\u308b\u3068\u3044\u3046\u6697\u9ed9\u306e\u4e86\u89e3\u3092\u6301\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u5f7c\u3089\u306f\u3001\u30e1\u30c7\u30a3\u30a2\u306e\u6240\u6709\u6a29\u3068\u9078\u6319\u3078\u306e\u8ca2\u732e\u3092\u901a\u3058\u3066\u3001\u9078\u51fa\u3055\u308c\u305f\u5f79\u4eba\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u529b\u3092\u6301\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u5f7c\u3089\u306f\u81ea\u5206\u305f\u3061\u306b\u6709\u5229\u306a\u3088\u3046\u306b\u6cd5\u5f8b\u3092\u5909\u3048\u308b\u529b\u3092\u6301\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u8981\u3059\u308b\u306b\u3001\u5f7c\u3089\u306f\u5dde\u3092\u5360\u9818\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n
\u5bfe\u7167\u7684\u306b\u3001\u6697\u53f7\u958b\u767a\u8005\u306f\u3001\u65e2\u5b58\u306e\u653f\u6cbb\u7684\u67a0\u7d44\u307f\u304b\u3089\u5b8c\u5168\u306b\u5916\u308c\u3066\u3044\u307e\u3059\u3002\u5f7c\u3089\u306f\u8ab0\u306b\u3082\u6069\u7fa9\u3092\u611f\u3058\u3066\u304a\u3089\u305a\u3001\u73fe\u72b6\u7dad\u6301\u306b\u65e2\u5f97\u6a29\u76ca\u3092\u6301\u3063\u3066\u3044\u307e\u305b\u3093\u3002\u5f7c\u3089\u306e\u552f\u4e00\u306e\u95a2\u5fc3\u306f\u3001\u65e2\u5b58\u306e\u3082\u306e\u3092\u6539\u5584\u3059\u308b\u65b0\u3057\u3044\u30d7\u30ed\u30c8\u30b3\u30eb\u3068\u30a2\u30d7\u30ea\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u69cb\u7bc9\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u5f7c\u3089\u306f\u3053\u308c\u307e\u3067\u306b\u898b\u3089\u308c\u305f\u3082\u306e\u3088\u308a\u3082\u306f\u308b\u304b\u306b\u6025\u9032\u7684\u306a\u5909\u5316\u306e\u529b\u306b\u306a\u308a\u307e\u3059.<\/p>\n\n\n\n
\u3057\u305f\u304c\u3063\u3066\u3001Defi\u306f2008\u5e74\u306e\u5371\u6a5f\u306e\u7e70\u308a\u8fd4\u3057\u3067\u3042\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u307e\u3063\u305f\u304f\u65b0\u3057\u3044\u3082\u306e\u3092\u8868\u3057\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002\u53e4\u3044\u8b66\u5099\u54e1\u306f\u6368\u3066\u3089\u308c\u3001\u65b0\u3057\u3044\u8b66\u5099\u54e1\u306f\u307e\u3060\u59cb\u307e\u3063\u305f\u3070\u304b\u308a\u3067\u3059\u3002\u5f7c\u3089\u304c\u4f55\u3092\u69cb\u7bc9\u3059\u308b\u306e\u304b\u3001\u5f7c\u3089\u304c\u79c1\u305f\u3061\u3092\u3069\u308c\u3060\u3051\u9ad8\u304f\u3059\u308b\u306e\u304b\u306f\u308f\u304b\u308a\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u78ba\u304b\u306a\u3053\u3068\u304c1\u3064\u3042\u308a\u307e\u3059\u3002\u305d\u308c\u306f\u3001\u4e16\u754c\u304c\u540c\u3058\u306b\u306a\u308b\u3053\u3068\u306f\u6c7a\u3057\u3066\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n
\u3069\u3046\u601d\u3044\u307e\u3059\u304b\uff1f\u30c7\u30d5\u30a3\u306f2008\u5e74\u306e\u5371\u6a5f\u306e\u7e70\u308a\u8fd4\u3057\u3067\u3059\u304b\u3001\u305d\u308c\u3068\u3082\u307e\u3063\u305f\u304f\u65b0\u3057\u3044\u3082\u306e\u3067\u3059\u304b\uff1f\u4ee5\u4e0b\u306e\u30b3\u30e1\u30f3\u30c8\u3067\u304a\u77e5\u3089\u305b\u304f\u3060\u3055\u3044\uff01<\/p>","protected":false},"excerpt":{"rendered":"
Charlie Warzel \u306e\u30cb\u30e5\u30fc\u30b9\u30ec\u30bf\u30fc\u306e\u30cb\u30e5\u30fc\u30b9\u30ec\u30bf\u30fc\u306b\u306f\u3001\u5148\u9031\u3001\u8208\u5473\u6df1\u3044\u898b\u51fa\u3057\u304c\u3042\u308a\u307e\u3057\u305f\u3002\u305d\u306e\u8a18\u4e8b\u306f\u3001\u5206\u6563\u578b\u91d1\u878d\uff08Defi\uff09\u306e\u53f0\u982d\u306b\u95a2\u3059\u308b\u3082\u306e\u3067\u3057\u305f\u3002\u3053\u308c\u306f\u3001\u30a4\u30fc\u30b5\u30ea\u30a2\u30e0\u4e0a\u306b\u69cb\u7bc9\u3055\u308c\u3001\u5f93\u6765\u306e\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u3092\u8986\u3059\u3053\u3068\u3092\u7d04\u675f\u3059\u308b\u6697\u53f7\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3068\u30d7\u30ed\u30c8\u30b3\u30eb\u306e\u65b0\u3057\u3044\u6ce2\u3092\u8868\u3059\u5305\u62ec\u7684\u306a\u7528\u8a9e\u3067\u3059\u3002 Warzel \u304c\u6307\u6458\u3059\u308b\u3088\u3046\u306b\u3001Defi \u306e\u6210\u9577\u306f\u9a5a\u7570\u7684\u3067\u3042\u308a\u3001\u30bf\u30a4\u30c8\u30eb\u306f\u4fee\u8f9e\u7684\u306a\u554f\u984c\u3067\u3042\u308b\u3053\u3068\u304c\u5224\u660e\u3057\u307e\u3057\u305f\u3002\u30c1\u30e3\u30fc\u30ea\u30fc\u30fb\u30a6\u30a9\u30fc\u30bc\u30eb\u306f\u3001\u30a2\u30e1\u30ea\u30ab\u30f3\u5927\u5b66\u306e\u6cd5\u5b66\u6559\u6388\u3067\u3042\u308b\u30d2\u30e9\u30ea\u30fc\u30fbJ\u30fb\u30a2\u30ec\u30f3\u306b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3057\u307e\u3057\u305f\u3002\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u306e\u4e2d\u3067\u3001\u5f7c\u5973\u306f\u3001\u5206\u6563\u578b\u91d1\u878d\u304c\u300c\u30b7\u30e3\u30c9\u30fc\u30d0\u30f3\u30ad\u30f3\u30b0\u300d\u306e\u904e\u3061\u3092\u7e70\u308a\u8fd4\u3057\u3066\u3044\u308b\u3068\u4e3b\u5f35\u3059\u308b\u6700\u8fd1\u51fa\u7248\u3055\u308c\u305f\u8ad6\u6587\u306b\u3064\u3044\u3066\u8a71\u3057\u307e\u3057\u305f\u3002[\u2026]<\/p>","protected":false},"author":8,"featured_media":2341,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_uag_custom_page_level_css":"","footnotes":""},"categories":[188,12],"tags":[223,172,222],"class_list":["post-2339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi-news","category-news","tag-crisis","tag-crypto","tag-defi"],"acf":[],"uagb_featured_image_src":{"full":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg.jpg",1600,1200,false],"thumbnail":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg-500x330.jpg",500,330,true],"medium":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg-300x225.jpg",300,225,true],"medium_large":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg-768x576.jpg",640,480,true],"large":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg-1024x768.jpg",640,480,true],"1536x1536":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg-1536x1152.jpg",1536,1152,true],"2048x2048":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg.jpg",1600,1200,false],"trp-custom-language-flag":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/04\/oyxis2kalvg.jpg",16,12,false]},"uagb_author_info":{"display_name":"Martin K","author_link":"https:\/\/bitcoinwisdom.com\/ja\/author\/martin\/"},"uagb_comment_info":0,"uagb_excerpt":"The newsletter from Charlie Warzel\u2019s newsletter had an interesting headline last week: \u201cIs Crypto Re-Creating the 2008 Financial Crisis?\u201d The The piece was about the rise of decentralized finance (Defi), a catchall term for the new wave of crypto projects and protocols that are built on Ethereum and that promise to upend traditional financial services. As Warzel…","_links":{"self":[{"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/posts\/2339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/comments?post=2339"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/posts\/2339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/media\/2341"}],"wp:attachment":[{"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/media?parent=2339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/categories?post=2339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/ja\/wp-json\/wp\/v2\/tags?post=2339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}