Alphatu

Centrally controlled network effects allow platforms to build unexpectedly dangerous incentive structures.

Three types of Decentralization

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.

Credible agreements are always over-collateralized.

Nevertheless, DAOs are not without their challenges. The ideal design of DAOs is still being explored, exposing challenging governance questions which may ultimately stymie their growth and development. DAOs are not formally recognized and do not fit neatly into existing forms of business associations, making it difficult for DAOs to interact with... See more

Beyond the network and protocol variety, DAOs come in many flavors. These include:Investment DAOs in which individuals, friends, and colleagues form clubs to invest in web3 startups;

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

NFTs have fundamentally changed the market for digital assets. Historically there was no way to separate the “owner” of a digital artwork from someone who just saved a copy to their desktop. Markets can’t operate without clear property rights: Before someone can buy a good, it has to be clear who has the right to sell it, and once someone does buy,... See more