Sly
@sm-sly
263 Following
335 Followers
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
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...) 9 replies
38 recasts
154 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
4 replies
5 recasts
24 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
0 reply
1 recast
0 reaction
1 reply
16 recasts
27 reactions
0 reply
0 recast
0 reaction
0 reply
1 recast
0 reaction
2 replies
15 recasts
30 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
5 replies
5 recasts
22 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
