Crypto.
Cryptonetworks, tokens, decentralization, identity
- Minimum Viable Economy
One of my favorite things about the cryptocurrency / blockchain space is that our conception of “what it all means” is still very much in flux. Nic Carter just published a nice analysis of how the functional narrative around bitcoin has changed over time – (roughly) from e-cash, to e-gold, to privat...
- The path to decentralization: self-destructing companies
In June, the SEC gave some of its most concrete guidance to date that cryptoassets can start out as centralized projects, possibly initially sold under securities laws, and eventually become “decentralized” and thus no longer sponsor-controlled, and no longer sold or transferred under securities law...
- Trust and fairness
I was at an event last night, where the moderator, Preeti Varathan from QZ observed that there seemed to be a lot of cynicism in the blockchain / crypto space — in other words, that the whole thing was essentially premised on a distrust of existing systems (fiat currencies, large internet companies,...
- just_work = true
One of my former colleagues, Rob Marianski, and I used to have a running joke — we would be building and debugging something, and he’d finally say, “Oh, so you just want me to set just_work = true?”. That was over 10 years ago, but it still gets me every time for some reason. (as… Continue reading
- Digital scarcity
As readers of this blog can tell, I’ve been spending a lot of my time recently focused on cryptonetworks and blockchains, and in particular, working through the complex legal and regulatory issues involved. Explaining what cryptocurrencies, cryptonetworks and blockchains are is hard to do. As Naval...
- Zombies eating kitties
On Tuesday we announced our investment in Cryptokitties, and, as you might expect, received a combination of enthusiasm and skepticism in response. Bitcoin and cryptocurrencies already sound ridiculous to most people, and virtual “real” kittens made out of cryptocurrency take it a step further. But...
- Cryptonetworks and why tokens are fundamental
“Cryptonetworks” can help us build a more competitive, innovative, secure and decentralized Internet. “Tokens” (also known as cryptocurrencies or cryptoassets) are integral to the operation of cryptonetworks. As we design new laws and regulations in this emerging space, we should keep these concep...
- On the blockchain: platform first or app first?
I was emailing with a friend recently, who asked: “On the web, in order to build a platform you first need a hit app. Do you think this dynamic is different in blockchain?” It’s a great question, and one I have been thinking about a lot lately. First, let’s unpack the idea that the way… Continue re...
- Learning by doing
I had lunch yesterday with someone who has been investing in the crypto / token space recently — having pooled together a small “fund” from friends and family. It’s a short-term vehicle (like, 6 months), and a large part of the goal is simply to become hands-on familiar / capable investing in token...
- For web platforms considering a token strategy: cryptocurrency vs. dollars?
A lot of founders / teams have been asking if they should be adopting a cryptocurrency strategy. This is understandable given the frenzy of fundraising recently and the ongoing dialogue about the potential for cryptocurrencies as an alternative business model for web platforms. As “traditional” web...
- Entering the world of smart contracts
One thing that’s interesting about yesterday’s Basic Attention Token sale is how quickly it went – $36M transacted in 30 sec. Lots of people were surely disappointed as they attempted to buy into the token sale only to have their orders canceled for missing the sale window. I haven’t nailed this dow...
- Mechanics of the token sale
In case you missed it, today Brave raised $36M for the Basic Attention Token. They had allocated 30 days for the token sale, but sold out of 1B BAT in 24 seconds. The Basic Attention Token (BAT) ICO just raised 30 million dollars in 24 seconds. VC’s didn’t even have time to put on a sweater… Contin...
- Open source leadership vs. corporate leadership
As cryptocurrencies and blockchains have continued to gain steam (and attract capital), a common question in the air is, what type of leader does it take to be successful in this space? A common variant on that question is: “will [leader] need a grownup in the room once they get ahold of all that mo...
- Cryptocurrenices: the native business model of attention
There has been lots of attention this week on cryptocurrencies and blockchains, what with Consensus conf and the Token Summit and lots of related announcements. And with like lots of new things (thinking back to Twitter circa 2010) I find myself spending a lot of time explaining to people what block...
- The Blockchain as verified public timestamps
Two weeks ago at USV’s annual CEO Summit, Muneeb Ali from OneName explained the blockchain in a way I hadn’t heard before, and which I thought was really helpful: the blockchain is time. That’s a somewhat abstract way of saying it, so more concretely we could say that: The blockchain is database of ...
- OuiShareFest Paris: Venture Capital vs. Community Capital
Photo: Rudy (Loïs) Pignot I am in Paris this week for OuiShareFest, and spoke yesterday morning during the opening session. OuiShareFest is in its third year as a large international gathering of folks interested in the peer/collaborative/sharing/networked society, put on by the community organizat...