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Kazuki Nakayashiki's avatar

Great summary of how blockchain technology and crypto assets could evolve capitalism in exciting new ways. Lowering barriers to entry and friction in markets enables more experimentation and innovation. But we have to build the infrastructure in a responsible way that aligns with social values. Crypto idealists need pragmatism.

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Ernest Prabhakar's avatar

Packy: while it might be true that "Crypto’s ideal state is to make capitalism more effective" -- I would find that, well, Boring.

The REAL ideal state is for crypto to solve Number 8 (right after your cutoff):

> Alignment of business interests with long-term societal welfare. 

By decentralizing ownership, on-chaining externalities, and enabling incorruptible public accountability, crypto could -- and should --make capitalism (more precisely, “marketism”) not merely more effective, but more -aligned- with the greater good we all want.

It is admittedly not obvious how to get there. But like you say, the first step is imagining the right possible future. Do that, and you may write something even socialists would find Not Boring!

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