The Big Question at Ethereal Summit NY: Is DeFi Enough for Ethereum?

Ethereum’s true believers think the world’s second-largest blockchain can still be all-encompassing. Others think a more-focused path would be best.

That was the tension on display at Day 1 of the ConsenSys-organized Ethereal Summit NY, a Blockchain Week gathering held at Pioneer Works in Red Hook, Brooklyn on Friday.

“Ethereum’s going to eat everything,” Ameen Soleimani, SpankChain founder and summoner of the MolochDAO, said during one panel.

Earlier in the day, Messari founder Ryan Selkis offered a counterpoint. If ethereum, he argued, truly reinvents finance, that would be plenty.

“If you think about ethereum as programmable money and decentralized finance (DeFi) applications, that’s probably good enough,” Selkis argued.