Implementing Web3 will define ETH's role beyond money as the monetary glue holding together a DAO. Crypto as a currency will stabilize to exchange rates, compared to today's birthing issues. The Humanist Union Society I am founding now will morph into a DAO Hus .Eth as it comes up to scale and into focus as a truly decentralized institution, for its own integrity, for sure..

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Nov 7, 2022Liked by Michael Weiss

In the short term, it will be interesting to balance the "existential relevance" and capital requirements. For example, say we all believe a World's Fair is existentially relevant and the bounty, through contributions, is $10M but it requires $100M to pull off - stalemate?

A venture capitalist has two roles - educated speculation (do I think there's a market for it aka will people buy it) and resource allocator (can I provide enough capital to make a difference).

Distributed bounty system provides the first, but not the second. But maybe it's the "seed" rounds to get going and we have some ultra long term LPs as they get traction.

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