I’ve often commented that crypto feels like they’re creating in from first principles the whole financial industry. See FDIC insurance being discovered in real time!
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@friedmandave
I first had this thought about two years ago when crypto was breathless as they’d just invented the REIT!
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@sarah_cone
Having worked with our 100 projects now I can say this:
Unlike tech/vc which is clearly regulated and structured
In crypto founders have to first discover how to manage the inc; structure and raise of org..
Then pivot to product and distribution.
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@sarah_cone
Some people have to learn the hard way.
The one thing the great crypto experiment has proven is the exact opposite of what it was intended to prove:
Financial markets need regulation.
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@0xSaam
@retheauditors
It’s the general principle that it’s a good idea for government to provide insurance for small accounts so the banks can use $ more effectively, and reasonable regulations around reserves are probably a good thing. (Lots of reasonable fights to be had in the details or course.)
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@sarah_cone
The way I see it, Engineering a Web3 (crypto) economy requires designing coherent Tech, Finance & Law dimensions based on what's largely proven. "Move fast and break things" projects based on personalities & # go up, sexy ideas flame out. Boring solutions to real problems win.
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