Another way to think about this thread: Money is the economic system’s equivalent of “working capital”. It’s a buffer between capital inflows and outflows. Blockchain tech enables faster settlement, reducing the need for working capital.https://twitter.com/tusharjain_/status/989653842257154048 …
how do you reconcile your views that "censorship-resistance is not a value prop for tokenized securities" with your view that "bundles of tokenized securities will replace money"? these bundles are unlikely to be censorship-resistant / as private / unseizable...
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... require enforcement / authority / governments / laws / attestation / probably will be KYC / heavy
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and more questions: 1) Which blockchain are $200T worth of tokens going to be placed on? 2) Since TAM of Money shrinks rapidly, can you put $200T of tokens on top of a $5T chain?
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3) Is it going to be a decentralized/permissionless chain? 4) If so, what native monetary coin will be used to secure this chain? 5) How will you natively incentivize miners/validators to secure this chain?
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These are great questions. I expect we will need to invent a mechanism for the security to be funded by more than just the base layer. Possibly a Cosmos style chain of chains would make sense here.
End of conversation
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