Governance rights face similar challenges with both fungible and non-fungible tokens: ownership naturally tends to have a power-law distribution so the question becomes: what do you do about whales? This recent essay by Vitalik paints a clear picture for why this will become an increasingly problematic issue for DAOs, both in terms of incentive... See more

Payments and identity are attractors for wealth, power, centralization, and all the problems that come along with those things.Aggregators emerged at the intersection of these attractors, and broke the evolutionary loop of technology, leveraging network effects to fend off componentization and freeze the evolutionary landscape in place.Now into... See more