Chief Information Officer, Equitable Holdings
Search every verified Michael Healy interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2023 appearance for the Unit Masters Cohort 14 program, Michael Healy discussed decentralization and the token economy. He described himself as one of the first users of FTX and expressed disappointment with the exchange's collapse, arguing that the industry should move from centralized to decentralized exchanges to reduce risk. Healy stated that proof of stake is more sustainable, scalable, and decentralized than proof of work, and described Bitcoin as the first technology enabling payments without trusting a central entity. Healy criticized the current economic model, saying that most value accrues to founders and investors rather than customers or employees. He advocated for a token economy where ownership is held in tokens, allowing communities to share in value. Healy promoted Unit Network as a platform for creating tokens and sharing value with communities, and described its treasury mechanism as providing price protection. He also characterized centralized exchanges as "highly corrupt" with wash trading, and said regulators are struggling to understand the technology, adding that regulation without understanding is not beneficial.
“Bitcoin was the first technology where you didn't have to trust a central entity. It allowed you to send payments in a distributed way without relying on a small number of individuals.”
“Most of the value in the world gets accrued by the founders and the investors, not the customers or employees. This is broken because users and contributors don't benefit from the significant upside.”
“The token economy represents an economy where ownership is held in tokens, allowing customers and communities to share in the value rather than just founders and investors.”
“Unit Network makes it really easy to create tokens and share value with your community, incentivizing people to support your success.”
“The treasury in a token provides protection by holding funds that back the token's value, ensuring the token price doesn't drop below a certain level.”
“Centralized exchanges are highly corrupt with a lot of wash trading; we want to drive trading value on our decentralized exchange for transparency.”
“Regulators are struggling to understand what this technology does; regulation without understanding is not good for the technology or ecosystem.”
“I was one of the first users of FTX and it was disappointing how it let people down. The industry must move from centralized to decentralized exchanges to reduce risk.”
“Proof of stake is more sustainable and scalable than proof of work and is also more decentralized.”
“The future of taxation and regulation for decentralized autonomous organizations (DAOs) is unclear, but it will likely be seamlessly integrated similar to how newspapers adapted to the internet.”
Learn from Unit Network Co-founder, Michael Healy, about the economic models and technology that will empower global ...
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