summary: Rune Christensen is the CEO and co-founder of MakerDAO and creator of the world's first stablecoin, Dai, on the Ethereum blockchain. He studied International Bu...
content: Rune Christensen is the Chief Executive Officer and Cofounder of MakerDAO, where he is responsible for establishing the vision and organizational structure of the protocol and the economic foundations of the Dai stable digital currency. MakerDAO is known for issuing Dai, the world’s first stablecoin on the Ethereum blockchain, which eliminates volatility through a system of smart contracts designed to respond to market dynamics. Early Life & Education Christensen was born in Denmark. He studied International Business at Copenhagen Business School and Biochemistry at the University of Copenhagen. For some time he lived in China and co-founded Try China, a company offering international recruiting services. Career Before entering the world of cryptocurrencies, Christensen had already established a business which involved recruiting Westerners to teach English in China from 2011 to 2014. MakerDAO In 2011, Rune Christensen came across Bitcoin and eventually decided to sell the previously established business in order to invest in the cryptocurrency. However, following the hack and collapse of Mt. Gox in 2014, he became intrigued by the concept of stablecoins. As a result, in 2015, MakerDAO was launched by Christensen with the aim of providing individuals globally with the opportunity to participate in a financial system that is more improved and transparent. Over time, Maker has expanded significantly and evolved from being one of the first protocols on Ethereum to becoming one of its most prominent. During 2019, MakerDAO announced plans to expand into the Asian market, with a focus on establishing a strong presence through partnerships with knowledgeable and well-connected partners. This is deemed important by the Maker Foundation, as China is a key player in the blockchain industry. “It's really the country that, other than the US essentially, is like running the entire crypto space when it comes to things like trading volume and just really adopting and actually using in real life the new technologies that are possible with blockchain. This was known even in the early days of Bitcoin, [which] only got really big once it started getting traction in China. It was a very sudden and massive escalation of interest. That's how technology is adopted in Asia versus the more organic growth that happens in the West typically.”- Rune Christensen In 2022, Christensen attempted to step aside from the organization to allow it to become decentralized. However, this resulted in a power vacuum and a fracturing of the community. Christensen returned with a plan known as Endgame, which aimed to set MakerDAO on a path towards true decentralization. The plan involved disbanding existing departments and replacing them with mini-DAOs within the MakerDAO. The goal was to unbundle bureaucracy and ensure long-term growth. 