ABOUT →
Gerrehbenta Finance is an independent research firm studying the technologies that will define the next financial internet.
RESEARCH →
We map six adjacent territories — from local-first software to trusted hardware — before the rest of the market has names for them.
THE LETTER →
Field notes from the frontier, written for people who allocate capital and people who write code. Twice a month.
We map the territory before the maps exist.
EST. 2021 · INDEPENDENT · NO OUTSIDE LPs IN OUR RESEARCHSix quadrants of the survey
FULL RESEARCH PROGRAM →Local-first software
Applications that treat the server as optional: CRDTs, sync engines, and what ownership of data does to business models.
Read the survey → Q-N2 · INFRASTRUCTUREDecentralized protocols
Consensus, rollups, and shared sequencing — the settlement fabric on which open finance actually clears.
Read the survey → Q-N3 · MARKETSDecentralized finance
Market microstructure without intermediaries: AMMs, intent systems, on-chain credit, and where the real yield lives.
Read the survey → Q-S1 · INTELLIGENCEPrivacy-preserving AI
Inference and training under encryption — federated learning, FHE, and models that never see your plaintext.
Read the survey → Q-S2 · HARDWARETrusted execution
Enclaves, attestation, and confidential compute as the quiet substrate of verifiable cloud and verifiable AI.
Read the survey → Q-S3 · CONVERGENCEAI × fintech
Agents that hold balances, underwriting that reads the world, and the regulatory line both will have to cross.
Read the survey →Recent fieldwork
ALL PUBLICATIONS →The Sovereign Stack: local-first software meets confidential compute
What happens when applications keep data on the device and verify computation in hardware? A 60-page survey of the architecture, the teams building it, and the financial rails it makes possible.
Intent is the new order book
Solver networks are quietly re-centralizing DeFi execution. We measure how much, and ask whether it matters.
Attestation as a market primitive
Remote attestation lets strangers trust hardware they don't own. The financial applications start with custody and end somewhere stranger.
Sync engines and the end of the request
A technical reading of five production sync engines, and why the request/response web is becoming a replication web.
How the survey is done
RESEARCH PHILOSOPHY →Primary sources only
We read the code, the papers, and the chain — not the press release. Every claim in our work traces to something we ran, measured, or proved.
Working systems
The team builds reference implementations of what we study. If a protocol can't survive our test harness, it doesn't survive our thesis.
Decade horizons
We publish on what compounds, not what trends. Most of our coverage begins two to five years before a category has a name.
Field notes, twice a month.
One idea per issue, argued carefully. Read by engineers, founders, and allocators in 40 countries. No sponsorships, no token shilling, unsubscribe anytime.