Richard Shibi

𝗧𝗛𝗘 𝗖𝗥𝗬𝗣𝗧𝗢 𝗥𝗘𝗩𝗢𝗟𝗨𝗧𝗜𝗢𝗡 : 𝗧𝗢 𝗗𝗔𝗢 𝗢𝗥 𝗡𝗢𝗧 𝗧𝗢 𝗗𝗔𝗢 𝗔 𝗗𝗔𝗢 𝗶𝘀 𝗮 𝗗𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘀𝗲𝗱 𝗔𝘂𝘁𝗼𝗻𝗼𝗺𝗼𝘂𝘀 𝗢𝗿𝗴𝗮𝗻𝗶𝘀𝗮𝘁𝗶𝗼𝗻 and is now a genuine option for any new blockchain token or NFT. The emergence of DAO's initially in 2016, is potentially the biggest revolution in organisational structures since the first public stock exchanges became prevalent in the late 19th Century - further background on Stock Exchanges and how they evolved in the Notes. The creation of the Dow Jones Industrial Average, formalising the modern joint stock company in the USA - was very much a 2nd IR creation, cementing the divorce of ownership and control still familiar in quoted companies and private companies too in the PE era. 𝗧𝗵𝗲 𝗗𝗔𝗢 𝗶𝘀 𝗮𝗿𝗴𝘂𝗮𝗯𝗹𝘆 𝗮 𝟱𝘁𝗵 𝗜𝗥 𝗲𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗮𝘀 𝗶𝘁 𝗹𝗲𝘃𝗲𝗿𝗮𝗴𝗲𝘀 𝗺𝗮𝗻 𝗮𝗻𝗱 𝗺𝗮𝗰𝗵𝗶𝗻𝗲 - the blockchain working in tandem with humans. Whereas the pursuit of SHAREHOLDER VALUE is the goal of most companies, 𝘁𝗵𝗲 𝗽𝗿𝗲𝘃𝗮𝗶𝗹𝗶𝗻𝗴 𝗴𝗼𝗮𝗹 𝗼𝗳 𝗮 𝗗𝗔𝗢 𝗶𝘀: 𝗖𝗢𝗜𝗡 𝗢𝗥 𝗧𝗢𝗞𝗘𝗡 𝗨𝗧𝗜𝗟𝗜𝗧𝗬 via an ever increasing macro economic excess of demand over supply, thereby creating ongoing utility for the coin or token. Increasingly, DAO's engage global leaders in gamification to enhance community engagement and coin/token utility, 𝗧𝗛𝗘𝗥𝗘𝗕𝗬 𝗗𝗥𝗜𝗩𝗜𝗡𝗚 𝗧𝗛𝗘 𝗖𝗢𝗜𝗡/𝗧𝗢𝗞𝗘𝗡 𝗣𝗥𝗜𝗖𝗘 𝗘𝗩𝗘𝗥 𝗨𝗣𝗪𝗔𝗥𝗗𝗦. 𝗞𝗘𝗬 𝗘𝗟𝗘𝗠𝗘𝗡𝗧𝗦 𝗢𝗙 𝗔 𝗗𝗔𝗢 A flat structure, minimal hierarchy and no prescribed board or management. The efficiency of execution perceived in a more traditional autocratic company culture may be diminished, albeit the blockchain itself is designed to protect the integrity of the DAO democracy, where voting is highly transparent. 𝗧𝗵𝗲𝗿𝗲 𝗶𝘀 𝗻𝗼 𝗦𝘁𝗮𝘁𝗲 𝗼𝗿 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁𝗮𝗹 𝗷𝘂𝗿𝗶𝘀𝗱𝗶𝗰𝘁𝗶𝗼𝗻 𝗯𝘆 𝘃𝗶𝗿𝘁𝘂𝗲 𝗼𝗳 𝗯𝗲𝗶𝗻𝗴 𝗗𝗘𝗖𝗘𝗡𝗧𝗥𝗔𝗟𝗜𝗦𝗘𝗗. One of the perceived challenges of a DAO is preserving the ethos intended in the founder's White Paper, which sets out the strategic intentions and purpose. And yet it is the very essence of a DAO that strategic developments are determined by the Community. This is the antithesis of the way a Private Equity board is run with institution, Chairman and CEO ideally collaborating. 𝗖𝗢𝗡𝗖𝗟𝗨𝗦𝗜𝗢𝗡 DAO's have neither super-ceded corporate structures nor are they necessarily superior in all ways. 𝗛𝗼𝘄𝗲𝘃𝗲𝗿 𝗶𝘁 𝗶𝘀 𝗰𝗹𝗲𝗮𝗿 𝘁𝗵𝗮𝘁 𝗗𝗔𝗢𝘀 𝗮𝗿𝗲 𝗵𝗲𝗿𝗲 𝘁𝗼 𝘀𝘁𝗮𝘆 𝗮𝗻𝗱 𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝗹𝘆 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲 𝘁𝗵𝗲 𝗽𝗿𝗲𝘃𝗮𝗶𝗹𝗶𝗻𝗴 𝘃𝗶𝗲𝘄 𝗼𝗳 𝗰𝗮𝗽𝗶𝘁𝗮𝗹𝗶𝘀𝗺 𝘁𝗵𝗮𝘁 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗹𝗮𝘁𝗲 𝟭𝟵𝘁𝗵 𝗖𝗲𝗻𝘁𝘂𝗿𝘆, 𝗲𝘀𝗽𝗲𝗰𝗶𝗮𝗹𝗹𝘆 𝗯𝘆 𝗱𝗲𝘁𝗮𝗰𝗵𝗶𝗻𝗴 𝗼𝗿𝗴𝗮𝗻𝗶𝘀𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲𝘀 𝗳𝗿𝗼𝗺 𝘀𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁𝗮𝗹 𝗮𝗻𝗱 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗷𝘂𝗿𝗶𝘀𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝗯𝘆 𝗰𝗵𝗮𝗺𝗽𝗶𝗼𝗻𝗶𝗻𝗴 𝗱𝗲𝗺𝗼𝗰𝗿𝗮𝗰𝘆 𝗼𝘃𝗲𝗿 𝗮𝘂𝘁𝗼𝗰𝗿𝗮𝗰𝘆.

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#stablecoins - crypto backed by fiat dollars (and now Euros) - will hit trillions in issuance volumes before the end of the decade. The ECB sees SCs as private sector competition to it's own govt crypto - #CBDCs.. so expect them to regulate competitors into obsolescence or the fringe. The state should not be issuing money direct to the public. This is Soviet-style central control/planning of money - we all know how that worked out. it's completely anti-free markets. SAFE AS CRYPTO? Ironically the new European markets-in-crypto-assets regulations ( #MICA) rules - legalising stablecoins in the Eurozone will make them MORE - not less - risky! Simplistically the regs force stablecoin issuers to hold their #fiat-backed token reserves/collateral as deposits in European #Banks.... Vs say US Treasuries or other highly rated and liquid collateral. BlackRock Fidelity Investments [partially] owned stablecoin issuer Circle ($34bn) has been the first to comply. Market leader Tether.io $112bn) says it won't... What is key that these bank deposits are UNINSURED. So the EUR stablecoin exposes the holders to European Banks by design... We all know how safe they are... right? Circle themselves already lost ~3% of their stable coin collateral when their deposits were in the SVB banking collapse before depositors were made whole by a 'bailout'. So be mindful that not all stablecoins - despite being backed by the par USD or EUR value collateral - are not equal. Counterparty risk is very real. CRYPTO EURODOLLAR MARKET Indebted govts with 'hard currency' status (USD a continually weakening GBP, EUR, JPY) will discover new emerging market demand for their debasing currency - especially US #Dollars. The crypto version of the multi trillion EuroDollar market is on the way! The ECB is not happy. A dolarised world accelerates the inevitable demise of the Euro and constrains its ability to abuse citizens with stealth taxes. Currently stablecoin volumes are ~$160billion... but all EM countries want USD... Argentina, Nigeria, Turkey etc etc... Anecdotally 99% of SC volume is in USD. #DeFi is in USD. While SCs do not solve the fiat/debasement/money printing/inflation/corruption/riba/ monetary abuse angle.. .. they are still infinitely preferable to #CBDCs given the greater #decentralization and [control/privacy] layers between individual and the state. https://lnkd.in/djp6Pjn7

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📚 👀 « Everything Old is New Again », a great article about inscriptions on #Bitcoin by @MikeinSpace Ordinals, Stamps, and Counterparty. The history of NFTs on #Bitcoin is not something new, in fact it is a very old story. From "The Inscription Issue." « Let me start off by acknowledging that Ordinals are amazing! Ordinal Theory is a very clever method of tokenizing individual satoshis and Casey Rodarmor deserves high praise and recognition for gamifying the blockchain and Making Bitcoin Fun Again. For the first time in the history of Bitcoin, we have NFTs on the heaviest proof-of-work chain, preserved indelibly forever! Okay, now that we got that out of the way, let’s dive into some “inconvenient” history. Ordinals was not the first — far from it. Tokens have existed on meta layers on top of the Bitcoin blockchain for at least a decade. Most have been flashes in the pan like Colored Coins; never quite launched, like RGB; or under-the-radar this whole time, like Counterparty […] » The rest of the article 👉 https://lnkd.in/ePXqupWr

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"Be the Change" meets the Digital Age. As we approach Gandhi’s birth anniversary, it's time to ask: Are his principles of self-sustaining communities still relevant in the age of A.I., #blockchain, #Web3, #finternet, #quantumtech & #beckn ? For the past 7 years, we’ve been exploring what an economy of “Be the Change” would look like—and on October 2nd, we're launching The Internet of Value. On Oct 2 - 11:11 AM we are launching the offline installation of this new economic paradigm, if you would like to be a part of it, kindly RSVP here: https://lu.ma/kpebnofk It's a very small space so limited seats only.

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As blockchain applications in gaming and social gain mainstream popularity, the opportunity for #appchains, or application specific blockchains, grows larger and larger. General purpose blockchains may service current DeFi, NFT and stablecoin use cases well. The next generation of performant use cases will rely on performant blockchains. A quick look at solving these scaling challenges through a specific example of a game that’s growing on the blockchain, Pirate Nation, form Decrypt: https://lnkd.in/e5FccUfT Amitt Mahajan —founder and CEO of Proof of Play, the developer of crypto game Pirate Nation—predicts that eventually there will be thousands of dedicated blockchains that each support individual applications. This comes after his experience building the viral Facebook game Farmville. During his time developing the casual farming simulator, Zynga operated approximately 64 databases simply to prevent the game from crashing. To Mahajan, the blockchain is just an advanced database. “As soon as you're an application with any level of scale, you need to be able to predictably control your gas costs,” Mahajan told Decrypt. “My prediction is that there's going to be thousands and thousands of chains, as people split off from these shared layer-2s to application-specific chains.” Since launching on its own app-specific chain, Mahajan said that Pirate Nation has started to fill up the chain with transactions—with the team already eyeing up a second chain for support. “We’ve essentially reached the capacity of Apex,” Mahajan explained. “Now, in order to continue to scale the game, we need to add the B-chain, the C-chain, the D-chain,” he added. “We're going to be adding more chains in the future so that we can continue to add and scale the number of users in the game.”

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