TLDR:
- Lily Liu says DeFi is the main economic engine that makes non-Bitcoin blockchains exist.
- Liu draws on ancient and modern history to argue that no vision can scale without a strong economic engine.
- Networks must be neutral, global and enforceable to deliver open financial access to 5.5 billion users.
- Liu separates corporate blockchain infrastructure from open systems, calling the division philosophical rather than technical.
Solana Foundation President Lily Liu made a bold case for decentralized finance as the foundation of any blockchain network.
In a recent post, Liu argued that DeFi is not an independent application category in the crypto space. Instead, he positioned it as the primary economic engine that gives non-Bitcoin blockchains their reason for being.
His statement has attracted the attention of the entire industry to directly outline the original purpose and long-term direction of blockchain.
Liu links Blockchain’s future to economic viability and open access
Liu opened his argument by reviewing the original vision behind blockchain technology. This vision has had several names over the years.
He wrote that terms like “open finance, decentralized finance, internet of money, tcp/ip for money” all point to the same goal. The goal has always been to move the financial infrastructure from analog to digital for the 5.5 billion Internet users.
He has anchored his position in historical examples from both ancient and modern times. He said no big vision can scale without a strong economic engine.
“Look at history, both ancient and modern,” Liu wrote, “and there is no vision that reaches scale without an economic engine recording it.”
Ancient empires suppressed major religions, and successful city-states built economies before spreading influence abroad.
Liu was direct in connecting this history to today’s blockchain ecosystems. He stated that “the path to sovereignty is based on a strong and diversified economy.”
For him, DeFi represents that decentralized economy. It gives non-Bitcoin networks a real and defensible reason to grow beyond speculation.
For blockchain to reach 5.5 billion users, Liu added, networks must be “neutral, global and enforceable.” They must also be committed to open systems that protect their sovereignty at every layer.
Economic strength is important, but structural openness must accompany it. Together, these qualities define what a legitimate blockchain network is.
Corpo Infra vs. Open Systems: The Main Split
Liu also drew a clear distinction between corporate blockchain infrastructure and truly open systems. He acknowledged that corporate infrastructure would benefit from significant distribution at startup.
However, he argued that it “ultimately serves the same ownership structures and private interests that characterize finance today.” This feature separates it from the fundamental mission of blockchain.
Liu was careful not to dismiss corporate infrastructure entirely. He noted that these projects “can have their role” and “can definitely create value for their owners.”
However, he was adamant that they should not be treated as legitimate successors to the original blockchain ethos. This difference, for him, has real weight in the whole field.
He described the true ethos of the blockchain as “self-independence, open access, equal opportunity to serve the broadest set of humanity at once.” These principles, according to her, are not compatible with private property structures.
Any infrastructure that centralizes control or restricts access is contrary to that initial commitment. The difference between open systems and corporate infrastructure, in his view, is more philosophical than technical.
His framework puts DeFi at the heart of how blockchain fulfills its original promise. Networks that remain neutral and open are better positioned to advance this mission at scale.
Those who favor private interests instead risk mirroring blockchain financial systems.
The post Solana Foundation President Lily Liu: DeFi Is What Will Give Blockchain Its Real Economic Purpose appeared first on Blockonomi.
Source: https://blockonomi.com/solana-foundation-president-lily-liu-defi-is-what-gives-blockchain-its-true-economic-purpose/
