A THREAD on most thought provoking ideas on crypto, DeFi, NFTs, DAO++ by @FEhrsam:
1/
Pseudonymity online allows anyone to be judged solely on merits.
Crypto, as with many things, is a window into this future.
1/
Pseudonymity online allows anyone to be judged solely on merits.
Crypto, as with many things, is a window into this future.
2/
Crypto is just getting started.
We are ~1% into the most important technology of the coming decades.
Crypto will redefine money and information, the two fundamental ways the world coordinates.
Crypto is just getting started.
We are ~1% into the most important technology of the coming decades.
Crypto will redefine money and information, the two fundamental ways the world coordinates.
3/
Crypto is the testing ground for the future of governance: by algorithm, not by politician.
Crypto is the testing ground for the future of governance: by algorithm, not by politician.
4/
The golden age of DAOs is on the horizon.
Previously just a cool concept, they now solve a burning need, as protocols with clear product/market fit become community owned.
The golden age of DAOs is on the horizon.
Previously just a cool concept, they now solve a burning need, as protocols with clear product/market fit become community owned.
5/
Imagine a community DAO funding a movie and sharing in the investment upside/downside.
Imagine a community DAO funding a movie and sharing in the investment upside/downside.
6/
Blockchains are on course to become our shared source of truth & reality.
The effects of this over time are hard to overstate.
Especially mind-boggling as stage 1 of crypto rocket, redefining money, will itself be one of the most world-changing innovations of the century.
Blockchains are on course to become our shared source of truth & reality.
The effects of this over time are hard to overstate.
Especially mind-boggling as stage 1 of crypto rocket, redefining money, will itself be one of the most world-changing innovations of the century.
7/
Blockchains *are* The Metaverse.
Blockchains *are* The Metaverse.
8/
Crypto is a breakthrough in distribution model: it turns users into economically aligned distributors.
Users as distributors powers the network effects of many Web 2.0 companies (eg join Insta because friends on it).
Economic alignment supercharges it.
Users are...
Crypto is a breakthrough in distribution model: it turns users into economically aligned distributors.
Users as distributors powers the network effects of many Web 2.0 companies (eg join Insta because friends on it).
Economic alignment supercharges it.
Users are...
... compensated in the network's early days of lower utility and higher risk with higher potential economic reward.
9/
Crypto is a sprawling ecosystem quickly redefining money, the financial system, and, ambitiously, the internet itself.
Crypto is a sprawling ecosystem quickly redefining money, the financial system, and, ambitiously, the internet itself.
10/
2017: Crypto as a global application platform was an abstract idea
2021: Becoming concrete via DeFi and NFTs
2017: Crypto as a global application platform was an abstract idea
2021: Becoming concrete via DeFi and NFTs
11/
DeFi is the new financial system.
It is the "internet of money".
It is open and permissionless.
It is built from the ground up by entrepreneurs around the globe.
It is the new frontier where 2 people in a garage can change the world.
DeFi is the new financial system.
It is the "internet of money".
It is open and permissionless.
It is built from the ground up by entrepreneurs around the globe.
It is the new frontier where 2 people in a garage can change the world.
12/
The open nature of DeFi (relative to traditional finance) gives anyone and everyone the opportunity to examine systemic risk!
Hopefully that results in a more resilient system over time.
The open nature of DeFi (relative to traditional finance) gives anyone and everyone the opportunity to examine systemic risk!
Hopefully that results in a more resilient system over time.
13/
The events of the last year have forced us to question the foundation of the modern financial system and internet.
If only there were a technology which offered an opportunity to experiment with new forms of both...
The events of the last year have forced us to question the foundation of the modern financial system and internet.
If only there were a technology which offered an opportunity to experiment with new forms of both...
14/
Entrepreneur quantity and quality flowing into the ecosystem astonishes daily, tackling everything from centralized infrastructure (brokerages, exchanges, custodians), to crypto-native financial tools (DeFi), to new ways of owning and using digital media (NFTs).
Entrepreneur quantity and quality flowing into the ecosystem astonishes daily, tackling everything from centralized infrastructure (brokerages, exchanges, custodians), to crypto-native financial tools (DeFi), to new ways of owning and using digital media (NFTs).
15/
NFTs are internet-native property rights.
NFTs are internet-native property rights.
16/
Digital items had value in the past because a platform (a video game, Instagram, etc) gave them value.
What if NFTs work the other way around?
What if value accrues around digital items first and platforms are built out around them second?
Digital items had value in the past because a platform (a video game, Instagram, etc) gave them value.
What if NFTs work the other way around?
What if value accrues around digital items first and platforms are built out around them second?
17/
The most powerful uses of new technologies are novel, not shoehorned from the old paradigm.
For NFTs, this means novel digital media, not works ported from the "traditional" art world.
The most powerful uses of new technologies are novel, not shoehorned from the old paradigm.
For NFTs, this means novel digital media, not works ported from the "traditional" art world.
18/
Turns out the number of people interested in art/culture (basically everyone) is much larger than the number of people interested in digital money/finance.
Turns out the number of people interested in art/culture (basically everyone) is much larger than the number of people interested in digital money/finance.
19/
Digital assets require less energy than physical assets.
Digital assets require less energy than physical assets.
20/
Ethereum is the open social network of the future.
The apps to use it that way just haven't been built yet.
Ethereum is the open social network of the future.
The apps to use it that way just haven't been built yet.
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