One of the main reasons that protocols from the early internet have faded in comparison to centralized platforms is the business model issue. Having your own platform (if it catches on) has been a model that appears to print lots of money for the companies. However, building and maintaining a protocol has long been a struggle.
Decentralized governance in some contexts is both necessary and dangerous, for reasons that I will get into in this post. How can we get the benefits of DeGov while minimizing the risks? I will argue for one key part of the answer: we need to move beyond coin voting as it exists in its present form.
@VitalikButerin Podcasts give access to knowledge which would not otherwise have been shared, since most interesting thinkers are to busy doing things to write down most of their insights. Con: it is often hard to extract knowledge by listening. But it generates an ambient milieu which is good.
One important conclusion for me from this is the importance of culture (and that oh-so-important word that crypto influencers have unfortunately ruined for me, "narrative"). If a project having a high moral standing is equivalent to that project having twice as much money, or even more, then culture and narrative are extremely powerful forces that... See more