1/ As people start working for DAOs, and get paid in their tokens, the nature of economic cycles will change
If my neighbour gets paid in EUR, or even $ETH, and I get paid in $ADA, then I have more in common with someone in Japan who gets paid in $ADA than with my neighbour
If my neighbour gets paid in EUR, or even $ETH, and I get paid in $ADA, then I have more in common with someone in Japan who gets paid in $ADA than with my neighbour
2/ Put simply, if enough people get paid in a non-local currency, the nature of recessions changes.
If someone is in an ecosystem that is doing well, their newfound wealth counterbalances the people who are doing poorly. So crashes in the economy are thus much milder.
If someone is in an ecosystem that is doing well, their newfound wealth counterbalances the people who are doing poorly. So crashes in the economy are thus much milder.
3/ The key thing though is that #crypto markets have to decouple from #BTC so that projects can succeed or fail on their own merits, rather than the whims of their decrepit grandpa
Not only that, but Decentralized Autonomous Organizations (DAOs) must rival LLCs as employers
Not only that, but Decentralized Autonomous Organizations (DAOs) must rival LLCs as employers
4/ Of course, you can still have a local currency
But every transaction could be settled with whatever you might prefer; much like how nowadays I can have a card in EUR, go to the UK and pay in GBP, without ever actually having GBP in my account
The nature of money is changing
But every transaction could be settled with whatever you might prefer; much like how nowadays I can have a card in EUR, go to the UK and pay in GBP, without ever actually having GBP in my account
The nature of money is changing
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