added by Jason Badeaux · updated 2y ago
Multicoin Capital: Proof of Physical Work
- Crypto-economic protocols allow for people to coordinate their economic activities without a centralized, rent-extracting party, and will help move these industries from corporate feudalism to meritocratic capitalism and freer markets.
from Multicoin Capital: Proof of Physical Work by Multicoin Capital
Jason Badeaux added 2y ago
- A corporation making central planning decisions and compensating its stakeholders at its discretion will never be as effective as a properly designed permissionless network that scales and compensates its most productive actors using the free market’s conceptions of supply and demand.
from Multicoin Capital: Proof of Physical Work by Multicoin Capital
Jason Badeaux added 2y ago
- We refer to this thesis as “proof of physical work.” Protocols that fit this thesis incentivize people to do verifiable work that builds real-world infrastructure. Relative to traditional forms of capital formation for building physical infrastructure, these permissionless and credibly-neutral protocols:1. Can build infrastructure faster—in many ca... See more
from Multicoin Capital: Proof of Physical Work by Multicoin Capital
Jason Badeaux added 2y ago
- One of the most powerful features of crypto-economic protocols is their ability to create incentive structures that allow anyone in the world to permissionlessly contribute to a set of shared objectives. These incentive structures can be finely tuned to facilitate large-scale coordination to achieve specific goals. This represents a step-function i... See more
from Multicoin Capital: Proof of Physical Work by Multicoin Capital
Jason Badeaux added 2y ago