Read_857 - Instant Settlement: The Construction Industry
Dec 2, 2024
Explore how Bitcoin and the Lightning Network could revolutionize the construction industry by providing instant settlements. Discover the inefficiencies caused by conflicting stakeholder incentives and how realignment could promote collaboration. Hear about the significance of a shared reference point in preventing disputes and enhancing communication. The discussion also highlights how decentralized systems can rebuild trust and efficiency, likening project roles to sports team dynamics to emphasize the importance of collective goals for successful outcomes.
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insights INSIGHT
Instant Settlement's Impact
Instant settlement changes how we think about organization.
It aligns incentives and reshapes economic interactions.
insights INSIGHT
Bitcoin's Societal Impact
Fiat currency's limitations create societal inefficiencies.
Bitcoin and Lightning offer a solution.
insights INSIGHT
Misaligned Incentives
Misaligned incentives cause friction in the construction industry.
Each stakeholder optimizes for individual gain, not project success.
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"Imagine a sports game where different players are motivated by distinct incentives, defenders aiming to pull the ball outside the field, midfielders prioritizing maximum passes, attackers focused on scoring the most goals, goalkeepers rewarded for saving the most shots, and coaches for the most words shouted from the bench. You can imagine that will not be an optimal team performance when they step on the field, the team winning should be prioritized over any individual player's performance." — Ivan Makedonski
Can Bitcoin and the Lightning Network provide a new foundation for aligning incentives and creating a more efficient and harmonious approach to construction and other industries? Join me as I read and discuss an article by Ivan Makedonski, exploring the potential for instant settlement to disrupt traditional industries and create new opportunities for collaboration and innovation.
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