For the first time in human history, blockchains empower any digital object to enjoy the properties of verifiable scarcity, durability, divisibility, and globally networked markets.
As a result, these internet-optimized objects now have the same or greater potential to become globally networked as a (1) product/service;... See more
Google, Facebook, and Amazon are monopolizing digital ad spend, and even newsfeeds and search results are finite. Limited supply + growing demand = rising prices
Dao efficiency parity forecast. The flipenning of DAOs creating more value than tradcos - Tradcos learn linearly - DAOs have strong network effects, both internally but also learning from each other. This creates an exponential learning rate.- We're still early in DAOs. Figuring stuff out - Bitcoin is a dao - We’ve learned about Governance tokens -... See more
Imagine a company that combs your camera roll and—with stunning accuracy—recommends a new wardrobe for you. Or the company simply asks you to link your Instagram account, and then it digests every like and follow you’ve ever made to deliver incredibly accurate, incredibly personalized fashion recommendations.
The core question explored in this post: do highly decentralized DAOs work, or should their governance start to more closely resemble trad corporations?
Vitalik's main point: there are certain use cases where decentralization is very important. There may be a relatively small number of these orgs, but they will be the very important ones.... See more
Over the years, plenty of responsible experimenters – think of the more pragmatic elements among the back-to-the-landers, kibbutzim, Tolstoyan farmers and so on – have managed to demonstrate that new societies can form successfully at modest scales. The best among them also managed to establish a productive and beneficial relationship with the... See more
Progressive decentralization is not enough - continuous decentralization is important. Because even in true DAOs, there will always be forces that tend towards centralization
There is a peculiar attitude, here at the beginning of the 21st century. On the one hand, we agree things aren’t fine. On the other hand, there’s a widespread feeling that there’s nothing to be done.
The first thing to recognize is that this isn’t always how the present feels: often in the past, people had a sense that there was something—something huge — to be done. Essays like the Communist Manifesto give people this sense. Before that, at the dawn of modern democracy, documents like Common Sense (in the US) and the Declaration of the Rights of Man and of the Citizen (in France) gave people the same sense. There was something to be done.
Human nature, far from being fixed, is read differently from age to age. These different readings give rise to totally new ideas for institutions. And these new readings and new institutions seem to reshape us. Often, what works out in practice would have seemed impossible on the previous views. Furthermore, the traits we are supposedly balancing — autonomy, collective responsibility, equality, etc — are themselves changing. They, also, are expressions of one view of human nature or another.
Indeed, each of our present-day institutions can be traced to a vision of human nature which swept through society. Each new vision led designers to focus on different features of a desirable society, and to recognize different approaches as viable. This made new institutions attractive.