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.
Like a central bank applying monetary policy to control its currency, tokenomics applies policies to cryptocurrencies. These policies are the core of a currency. Without carefully thinking through the rules, the currency is likely to fail. The rules of tokenomics are implemented through code and are quite difficult to alter as they require... See more
Our generation is blessed with a chance to observe how technology is shifting the economic paradigm toward something previously unavailable to our imagination. Blockchain technology, which initially just offered an alternative model of transactions processing, has evolved into a whole new economic framework with its unique set of principles and... See more
The shape of this future is rapidly coming into focus and centers around an organization referred to by technologists as “decentralized autonomous organizations,” or DAOs. These DAOs operate with different assumptions than many of today’s traditional legal entities and other business associations. DAOs are not run by boards or managers, but rather... See more