polynya pfp
polynya
@polynya
Though well-written and inspirational, I believe this post fundamentally misunderstands Ethereum and blockchains. Ethereum's distinctive property is objective, strict global consensus, and absolutely nothing else. It's great for usecases that require strict global consensus, but it's impossible for everything else, because Ethereum cannot parse any subjectivity or rough consensus at all. As such, while money, contracts, governance, identity, law are presented as examples, Ethereum can only parse very, very limited forms of the above, where it's objective. In some cases, like governance or law, it's almost entirely subjective with negligible scope for Ethereum to help. 99.99% of economics, institutions and the like are deeply human and subjective, which Ethereum or blockchains in general cannot interpret at all. Indeed, we've seen many a times how forcing subjectivity into objective code has led to many disastrous outcomes in crypto. (Contd...)
6 replies
4 recasts
77 reactions

nintynick.eth pfp
nintynick.eth
@nintynick.eth
feels like you're stuck in a thinking local maxima. guaranteeing the limited objective forms of money, governance, identity gives rise to emergent complexity, where meaningful subjective / social forms can thrive. sure, that's not Ethereum interpreting them, but they uniquely exist because of Ethereum.
1 reply
0 recast
1 reaction

Eric Siu 🐈 pfp
Eric Siu 🐈
@randomishwalk
example?
0 reply
0 recast
0 reaction