Finally, as de Soto has written, Latin America has been held back by an informal economy that lacks clearly defined property rights.
Crypto can mitigate this, as it’s rule-of-law as a service. Smartphones allow access to sound money & smart contracts. en.m.wikipedia.org/wiki/Hernando_…
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Let’s be clear: these data dredging requests by Treasury will result in violent attacks on crypto users.
Why? Because Treasury got hacked and can’t secure their data. Lists of home addresses of crypto users will keep leaking, as they did with Ledger. And criminals will use them.
90k households reportedly left SF this year, out of about 360k total.
Voting with their feet against poop, needles, car break-ins, fires, power outages, housing shortages, dysfunctional schools, physical assaults, exorbitant costs, and all the rest.
Point being: the exodus is real, as are the problems. Don’t let anyone tell you they’re not.
The silver lining is: SF will never get its monopoly back. Neither will Silicon Valley writ large.
Tech was overconcentrated, and decentralization was overdue.
Note: I thought the numbers were huge, which is why I included cites. It’s possible the 2 definitions of households don’t exactly match, or that in-migration has partially offset loss. More analysis welcome.
Start by sketching out the frontend and backend as normal. Then replace a few key backend calls with reads and writes to a decentralized database, namely a blockchain. balajis.com/yes-you-may-ne…
In other words, you don't need to throw out everything you know about web or mobile development. And you can often still use a standard DB as the data store for much/most of your app.
But for certain key functions, like sending/receiving funds, that's an on-chain operation.
Anyone who's built anything over the last decade is familiar with the concept of using multiple databases. At a minimum, you have your main Postgres plus a data warehouse or the like for analytics.