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E43: Benedict Evans on Automation Crypto, VR, and Predicting the Future of Tech
"Turpentine VC" | Venture Capital and Investing
Exploring Transparency, Governance, and Economics in Blockchain Systems
The concept of running systems on a blockchain is to allow transparency by sealing the code for users to see how it works. Users would have a vote to make any changes, and early adopters would have more ownership in the system. Users could have a share in the economics based on their engagement and followers. However, the model raises questions of governance and practicality, similar to historical challenges faced by democracies. It poses the risk of financializing social networks and the application of Goodhart's law where attaching money to all metrics can alter the system dynamics. While the ideal scenario is to have no gatekeepers, there is skepticism that new types of gatekeepers may emerge in a financialized environment.
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