[Web3] Taxonomy of Aspirations and Claims
Solve wicked problems in governance and coordination e.g. fund public goods, operate at scale in teams and organizations without oppressive hierarchy or sclerotic bureaucracy
Make money or raise money
Non-profit fund-raising
Make money from trading or investing in crypto
Raise money for my city e.g. MIAMI Coin
A better, easier way to raise money for my venture (issue shares and do IPOs)
Revolutionise cooperation (e.g. flat collaborative organizations at scale)
Fund public goods and commons esp in a voluntary (non-state) way e.g. gitcoin (software), removing plastic from ocean, increasing the cost of carbon
Broader and better mechanisms for pricing / financializing value …
Create global organizations with membership and able to manage money etc with the click of a button
Better economy: more stable, more efficient, more dynamic
It can gather a critical mass of interested people ... (with high trust, good aspirations ...)
Create securities markets without regulation allowing for greater participation and innovation
Negative for economy and society
Proof of Work is harmful to the Environment
Crypto investments negative-sum games and predatory investments
Crypto assets are a risk to the state
Crypto assets present a systemic risk to the economy
Censorship resistant payment rail for dissidents
A new, better payment system (visa 2.0)
Algo-stablecoins work and are useful for X
Stablecoins work and are useful for X [Tether, USDT]
Neo-metallism: Bitcoin is new digital gold and can give us a new gold standard "The Bitcoin Standard".
Crypto is hyper financialization
Crypto won't work and is a huge misallocation of resources
Crypto is very unequal and will increase inequality
Important fintech innovation enabling more and better financial products meaning a more efficient market
Exemplar ones
Fund public goods e.g. software, research, solving climate crisis
Reinvent money separate from existing power structures so as to distribute wealth and power more fairly
Get power (and redistribute it)
Fairer, more equal distribution of wealth? More equal ownership of the "means of production"?
More sustainable planet?
Avoid monopolization in tech and its -ve consequences for freedom of choice, enterprise, innovation ... e.g. solving the platform ownership (coop) problem
More stable economy without credit driven boom and busts?
Secure store of wealth for the long-term
Crypto is a hedge against the "debasement" of the dollar
Crypto tokens an inflation hedge
Crypto assets are a bubble
Crypto assets are a form of gambling
Blockchain can help with supply chain tracking problem (e.g. blood diamonds, co2, blood metals etc)
Smart contracts can replace traditional contracts enabling much more frictionless commerce
Better society: fairer, freer etc [everyone has (at least) enough to survive and people can do what they love (rather than what’s needed to put food on the table)]
Crypto is a means to accelerate the the collapse of capitalism
Third iteration of internet/web technology that it is more decentralized / democratic
Crypto is a solution for the unbanked (economic inclusion of the global south)
A fairer deal for artists … (via NFTs)
Reinvent money independent of existing power structures as a means to democratise the power of money
Financial inclusion of historically disenfranchised groups (in global north?)
censorship resistant social networks
Web3 is basis for fairer, more dynamic tech platforms and thereby a means to reduce or eliminate tech monopoly
Route to a global universal basic income
Overcome hegemony of the dollar
Improve/expand democratic participation in economy and ensure fairer allocation amongst producers e.g. workers/creators can own the means of production