Centralization has defined technology, finance, and government for decades. Bill Barhydt, co-founder and CEO of Abra, considers the 1969 moon landing the peak of centralization: people working together, pooling massive amounts of resources, achieving the near-impossible. Centralization has its benefits. It’s also had its day. History shows that global change often corresponds with the introduction of new technology. The present shift from centralization to decentralization, according to Barhydt, is being catalyzed by blockchain. And Abra’s global DeFi hub is at the cutting edge of this revolution. In addition to his big-picture philosophy, Barhydt explains how yield is generated in the DeFi economy and shares his views on the future of several mainstream layer 1 tokens. Interviewed by Real Vision’s Ash Bennington on February 9, 2022.