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balajis
@balajis.eth
Blockchains are most useful as a tool to innovate in regulated industries. You build a parallel state onchain that subsumes the function of the agency you are competing with. Legitimacy comes from millions democratically opting into the new system. Capital to defeat the old system comes from asset appreciation.
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Proto
@protocoel
This parallel state onchain can be regulated not by the value extracting traditional regulators but should be regulated by the startup societies focused on that particular industry. This brings competition among 'regulators'. But we're too early to tokenize physical industries. We need to tokenize digital goods.
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Proto
@protocoel
I'm wondering which digital goods are the best to tokenize. I know what physical goods need competition among regulators. Looking for problems in the digital goods industry. You know any kind sir? 🫂
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