Howdy. Let’s see if we can start to build ourselves a new economy on this here piece of internet paper. This post focuses on making an “Ideas Market” happen using web3. In the last post I called this Ideas Market an “Ideas Economy.” I changed the name in this post since the proposed upgrade is really more of a market than an economy for now. I also tweaked the COS architecture image to place this “Ideas Market upgrade” alongside the economy as opposed to a completely new segment. Semantics. Moving on.
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..
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.
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..
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.