✳flâneur — a map of the web's best reading

Blockchain's two cultures: The computer vs. the casino - a16z crypto

a16zcrypto.com · 1,868 words · saved by 1 readers

Two distinct cultures are interested in blockchains. The first sees blockchains as a way to build new networks. I call this culture the computer because, at its core, it’s about blockchains powering a new computing movement. The other culture is mainly interested in speculation and money-making. Those of this mindset see blockchains solely as a way to create new tokens for trading. I call this culture the casino because, at its core, it’s really just about gambling. Media coverage exacerbates confusion over the two cultures. Tales of fortunes won and lost are dramatic, easy to explain, and attention-grabbing. In contrast, the technology story is nuanced, slow to develop, and requires historical context to understand. Casino culture is problematic — and, in the extreme case of the defunct offshore exchange FTX, it’s outright destructive. It takes tokens out of context, wraps them in marketing language, and encourages speculation in them. Whereas responsible token exchanges provide usefu

Blockchain's two cultures: The computer vs. the casino - a16z crypto { Alpine.store('searchHistory')?.hide() }, 150)" @keydown.enter.prevent="saveToHistory()" @keydown.escape="closeModal()" autocomplete="off" :value="searchQuery" type="text" placeholder="Search a16zcrypto" class="w-full bg-white dark:bg-black h-12 md:h-[51px] lg:h-[53px] xl:h-[58px] outline-none pl-xs pr-[120px] py-2xs text-body--md md:rounded-t-2xl"> Results 0"> 0"> Bios 0"> 0"> Pages 0"> 0 || pageResults.length > 0"> Tags 0"> 0 || pageResults.length > 0 || tagResults.length > 0"> Content / No matches We couldn't find any mat

Explore this link on the map →

related reading