1. Best thing I’ve read about the power of Blockchains
The world is run by networks - roads, money, corporations, religions, etc. For a network to work, there need to be rules in place and a mechanism by which these rules are enforced. Arguably, the most successful networks in the 20th century are markets run by money. It’s open and meritocratic, thereby incentivizing people immensely to participate, which resulted in some of the strongest networks (credit markets, stock markets, …). The applications of markets are limited (not everything can be priced that is valuable). This changes with Blockchains. In markets, merit is determined by the commitment of money. In Blockchain world, merit can be defined by a whole lot of things (computation, prediction, attention, power, storage, content, security, …), thereby increasing the number of possible applications tremendously. In markets, the reward is money, in Blockchains it is some coin with a specified utility. Corporations are so powerful in today’s world because they control a lot of money. We’re shifting from a world of very few different kinds of powerful incentives to a world in which there are thousands of different incentives that can determine why a person or an organization or a machine is valuable to a network. This has the power to replace nation states in its current form (a network of networks).
2. Mental Model: Persistence
Persistence means you never give up. Persistence means you go on when someone tells you ‘no’. Persistence is a bit like focus, but more precise. Persistence means you trust the process and don’t get sidetracked by the status quo. Being persistent means everyone around you knows that you will not stop until you achieve what you want to achieve. Nothing truly good will be achieved without persistence - the world likes to cling to the status quo. Find something to be 100% persistent about.
3. Song of the week