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I think you could just say: "Instead of relying on the concentrated capital of VC firms, we should rely more on individuals investing smaller amounts in compani
by beepbooptheory 3y ago
I think you could just say: "Instead of relying on the concentrated capital of VC firms, we should rely more on individuals investing smaller amounts in companies they want to use. The individuals collective stake in the company can help protect them from the company going against their interests."
That's just the main point right? Everything becomes essentially Kickstarter/Patreon subscriptions, and maybe you pay a little more fees to exchange your money to tokens?
Its surely an appropriate argument to make I guess, just falls a little flat to me personally. Like I just want to use a service and not get ripped off, I don't want to enter into and have stake in some distinct governance structure for every service I want use.
- EGreg 3y agoWell yes, and now you can do it using open protocols, without relying on centralized platforms for the money part. Utility tokens need a decentralized network so there is no single point of failure. Just like the Web itself (1.0) disrupted gatekeepers at newspapers, TV and Radio stations, etc. that you used to have to pay (“payola”) to get the word out. VOIP lowered the cost of long distance phonecalls to pretty much zero by eliminating middlemen, too. The infrastructure providers shouldn’t ALSO control your app layer, that’s the point!