Alphatu

This choice of expedience over decentralization is bad in some use cases and harmless in others. The issue Moxie raised is known, and Ethereum developers have spoken and written about them publicly and are working on ways to mitigate them. And I have also written about how each wave of decentralization creates a concurrent wave of centralization.

The problem with “tokens at a discount” is that it is not always well received by communities. Many token holders question what value a VC investor will bring. Right now, the Sushi community is actively questioning if a discount is “worth it” in their forums and Discord.

Global relational contracts could be a way to overcome the limitations of incomplete contracts.

The tech industry got a speed-up with the Intel 4004 processor, launched in 1972. This was contemporaneous with American right-leaning economists launching a sustained attack on the regulatory state. The growth of the early PC industry in the late seventies and early eighties coincided with the supply-side thinking of Reagan and Thatcher. As an... See more

The incompleteness of contracts explains why we need to decentralize governance through token ownership.