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I feel like web3 continues the trend (in a good way) of the financialization of everything. The primitives of web3 effectively enable the fine grained economic

I feel like web3 continues the trend (in a good way) of the financialization of everything. The primitives of web3 effectively enable the fine grained economic measurement and distribution of every element of value-exchange, and gives folks the ability to participate in these cashflows where they were previously not able to. Now that there's standards for representations of value / governance / etc (ERC-20) now any protocol that supports ERC-20 tokens can be applied to any ERC-20 token. Ditto for NFTs. As an example, if you want to split cashflows from any source based on some pro-rata ownership of tokens: there's a off-the-shelf battle tested contract for that. This composability and remixability of economic value flows has never existed before. Mix that with governance concepts in DAOs and you effectively have a parallel system of capital allocation and investment decision making. p.s. Charles Stross was amazingly prophetic in Accelerando where the Superintelligent AIs create a system of economics called Economics 2.0, which is indecipherable to humans. Reminds me of smart contracts interacting :)

thr0waway2 5y ago
Like a company can literally spin off a division and make it public in a similar way. Or you can securitize cash flows into an ABS. The investment bank's fees will be a lot lower than the gas fees.
XorNot 5y ago
Economics 2.0 in Accelerando was considered a failure state for civilizations.
shagie 5y ago
Btw, for anyone who wants to read this book (its an interesting one) - https://www.antipope.org/charlie/blog-static/fiction/accelerando/accelerando-intro.html https://www.antipope.org/charlie/blog-static/fiction/acceler... Economics 2.0 starts at "Welcome to decade eight, third millennium" A bit further down: > Collapse of the trans-Lunar economy: Deep in the hot thinking depths of the solar system, vast new intellects come up with a new theory of wealth that optimizes resource allocation better than the previously pervasive Free Market 1.0. With no local minima to hamper them, and no need to spawn and reap start-ups Darwin-style, the companies, group minds, and organizations that adopt the so-called Accelerated Salesman Infrastructure of Economics 2.0 trade optimally with each other. The phase change accelerates as more and more entities join in, leveraging network externalities to overtake the traditional ecosystem. Amber and Sadeq are late on the train, Sadeq obsessing about how to reconcile ASI with murabaha and mudaraba while the postmodern economy of the mid-twenty-first century disintegrates around them. Being late has punitive consequences – the Ring Imperium has always been a net importer of brainpower and a net exporter of gravitational potential energy. Now it's a tired backwater, the bit rate from the red-shifted relativisitic probe insufficiently delightful to obsess the daemons of industrial routing. In other words, they're poor.

thr0waway2 5y ago

Like a company can literally spin off a division and make it public in a similar way. Or you can securitize cash flows into an ABS. The investment bank's fees will be a lot lower than the gas fees.

XorNot 5y ago

Economics 2.0 in Accelerando was considered a failure state for civilizations.

shagie 5y ago

Btw, for anyone who wants to read this book (its an interesting one) - https://www.antipope.org/charlie/blog-static/fiction/accelerando/accelerando-intro.html https://www.antipope.org/charlie/blog-static/fiction/acceler... Economics 2.0 starts at "Welcome to decade eight, third millennium" A bit further down: > Collapse of the trans-Lunar economy: Deep in the hot thinking depths of the solar system, vast new intellects come up with a new theory of wealth that optimizes resource allocation better than the previously pervasive Free Market 1.0. With no local minima to hamper them, and no need to spawn and reap start-ups Darwin-style, the companies, group minds, and organizations that adopt the so-called Accelerated Salesman Infrastructure of Economics 2.0 trade optimally with each other. The phase change accelerates as more and more entities join in, leveraging network externalities to overtake the traditional ecosystem. Amber and Sadeq are late on the train, Sadeq obsessing about how to reconcile ASI with murabaha and mudaraba while the postmodern economy of the mid-twenty-first century disintegrates around them. Being late has punitive consequences – the Ring Imperium has always been a net importer of brainpower and a net exporter of gravitational potential energy. Now it's a tired backwater, the bit rate from the red-shifted relativisitic probe insufficiently delightful to obsess the daemons of industrial routing. In other words, they're poor.