Or legal ones: like Richard Stallman's invention of copyleft/virality for the GPL. Still one of the most impressive intellectual judo moves around, on par with Bitcoin's PoW-majority.
In particular, you can design bespoke but scalable financial instruments, and therefore enable new forms of collective action. I love the example of the invention of maritime insurance in Genoa in 1471: it helped enable the age of discovery.https://twitter.com/decentralion/status/1032741855681630208 …
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Agreed. Perhaps a better framing for my original is "scalable contract" (rather than "financial instrument"), or something like that. Though copyleft itself seems to have stalled.
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Not enough credit is given to financial innovation for enabling other forms of innovation - we have the McNugget because of Bridgewater!
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I'm not sure that's a credit-worthy innovation, but I take your point
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Do you have good book/article recs on development of financial instruments / corporations you'd recommend. Always looking for more
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A fantastic book is Money Changes Everything. A small review by
@DianeCoyle1859 http://www.enlightenmenteconomics.com/blog/index.php/2016/07/civilising-money/ … excerpts about limited liability and first public financing. Really good but a bit longpic.twitter.com/BTN4RB7S9M
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Have you seen new categories of financial instrument made possible by crypto that will obviously have a big impact? Or is the point more about democratization of access to financial instruments that only institutions could access / make until now?
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I created financial instruments before, all the time, I'd say "hey friend, can I owe you?" and then BAM liquidity.
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