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yuga.eth
@yuga
No one complains that there aren’t any “killer consumer apps” on TradFi rails. So why do we focus so much on this for crypto?
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yuga.eth
@yuga
Let me clarify what I mean here. For consumer crypto, there is a built-in assumption that the blockchain unlocks some novel feature or use case, rather than it simply being better financial rails than TradFi. For example, NFTs. Why are we held to a higher standard?
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rish
@rish
but there are though, right? PayPal, Venmo, Cash app, Apple Pay, Robinhood (originally no crypto)
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TheModestThief🎩
@thief
VCs need to eat
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Zinger ↑
@zinger
Wrong comparison imo, makes it seem like blockchains are all about finance when in reality they’re a new kind of database
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Zeronium
@zeronium
There are countless existing interesting and wide ranging ways to use fiat. It's ubiquitous.
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derek
@derek
I’m confused: no one complains about it because there ARE killer apps built on traditional rails. Even if we don’t count the financial apps like Venmo and Square Cash. FB Marketplace, Instagram, YouTube, Twitch, Amazon, etc. all use traditional rails. Not to mention the 🐐: WeChat.
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helladj™
@helladj.eth
Because crypto is modular & composable - and now that it is democratized - it seems like there should be a killer app because of the possibilities
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Travis
@unlessrx
The killer app is the Economics applied, and the economic incentives for the desired actions (current = Production Efficiency via any means to an extent; maximize shareholder wealth as top Coprorate Law; …. On your post, yeah, maybe during transition those of us with the knowledge can design arbitrage capabilities through the two types of economies that will - IMO - be concurrent for some time. Your post: Seems the same could be said about any (x)-fi or de-(y) in analyzing Industry. Hard industry. Physical Jobs to Be Done (JTBD). (L) in (L)abor is becoming less meaningful in current economic “Proofs” and equations. The same is true for the dislocation of the “No Risk Asset” (the US T-Bond), is no longer working effectively in the Financial and investment equations. This is scary for anyone in the Financial industry already! Economics and Finance, changing every day. For the better? Likely, put someone in charge. -What’s next?
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ProddleroSingarl
@proddlerosingarl
Focus on utility and innovation rather than just consumer apps in crypto.
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