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Jake Chervinsky, lawyer, head of policy at Variant Fund and Blockchain Assoc., writes that the global financial system is being rebuilt in stages, moving piece by piece until traditional infrastructure is replaced by onchain solutions.
Chervinsky suggests that these changes may occur so gradually that many people might not notice until the transition is complete.
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Chervinsky has previously commented on shifts within the financial sector, recalling the start of DeFi summer and the move toward onchain perpetuals in U.S. agriculture. He has also identified pre-IPO perpetuals as a tool for pricing IPOs in crypto. These observations reflect his continued focus on the gradual integration of blockchain technology into traditional markets.