There is perhaps no single technology that fits today’s zeitgeist more than crypto. Declining trust in institutions across advanced societies, unsustainable government spending among G7 countries, blatant currency debasement from the largest fiat currency issuer in the world, deglobalization and fragmentation of the international order, the growing... See more

In fact, with enough time, the idea of self-sovereign ownership of onchain cash flows may come to be understood as a similar scale unlock as self-sovereign digital stores of value. Afterall, when else in history have you been able to hold digital bearer assets that are paid autonomously every time a program is used, from anywhere on earth?

• Peer-to-peer internet platforms that enable users to transact and enforce contractual relationships without government or corporate intermediaries


• Digital dollars that can be stored and transferred anywhere on earth where there's internet, providing billions of people with cheap and reliable money


• Permissionless exchanges that enable anyone,

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In 2021 the cryptoeconomy pulled forward expectations far greater than most people appreciated. In some ways it was obvious, like DeFi blue-chips trading at 500x price-to-sales multiples, or the fact that there were 8 smart contract platforms that eclipsed $100B valuations. Not to mention all the metaverse and NFT nonsense. But the chart that... See more

• The asset class pulled forward expectations too far in 2021; since then valuations have been rationalizing and are now reasonable for quality assets


• As the U.S. regulatory environment eases, alignment and value capture issues for tokens are finally turning a corner, making tokens more investible


• Growth across the cryptoeconomy is transitioning from

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