Day 3: Crypto vs Internet growth

I was listening to the /moz episode with @barmstrong this week and found one section that surprised me a bit.

Dan asked Brian what north star he thinks accurately measures economic freedom (Coinbase's mission). In my head I just defaulted to # of crypto DAUs. Instead, Brian went full Collison brothers mode and said:

"% of global GDP that runs on crypto rails"

He then mentioned something that caught me off guard...today only 20% of GDP is done over the internet! And even that number only recently grew a ton because of covid; before 2020, it was closer to the 10-15% range.

How is crypto doing relatively?

It's too early to make any GDP comparisons...even the internet was at less than 1% back in 2000

It's worth noting that it only took 4 years for the internet to go from 500m to 1b users. My guess is that something similar will happen for crypto (s-curve growth). It seems likely that stablecoin payments will be the answer here to quickly onboard the next 500 million users.

/toc  Writing at terminallyonchain.xyz | co-host /latenightcrew

interesting! that makes sense though, I think base is triggering the s-curve in this situation. 

I also think we'll continue to see more and more economics shift to the Internet (e-commerce) as AI develops and remote work becomes the norm.