Prelude
'The ethics of those who provide the worlds solutions, determine how we may live in this world.'
Motivation.
The following notes are my own opinions resulting from reflections I have had of the crypto-space since I entered it in 2012:
BitCoin is an asset capable in design and function of being a reserve asset to a native-rail, but it is not suited to being a currency.
Unfortunately BitCoin does not, at time of writing, have its own native-rail and so its ongoing adoption has come at the expense of its original promise.
Reiterated:
Centralised finance (CeFi), has positioned itself as BitCoin's (adopted) rail.
Validated by:
The centralisation of BitCoin via gated on / off ramps + the lack of a native-rail has (in my opinion) resulted in it (BitCoin), becoming an integrated feature of the existing financial system rather than the foundations of a new one.
Pivoting to Ethereum (being 3's primary chain), the above opinion does not suggest Ethereum is without challenges that affect those goals and objectives being pursued by 3. The greatest of which I believe will be in achieving: 'Privacy with Accountability.'
Mechanics.
3 seeks a return to the original promise of BitCoin: a new foundation to our financial architecture. This brings with it enormous challenges. Here are just two of my favourites:
Usurpation.
In a world of centralised 'money' printing, where any 'perceived' threat can be usurped by printing as much as is needed to purchase a controlling share.
'Without a distinct alternative, can the status-quo really change, ...is there a defence?'
Multi-polarisation.
As the baton of financial dominance transitions west to east, currency rails are fragmenting in order to be remade under the auspices of a new power hierarchy. This re-org' brings with it a great many questions surrounding the financial solutions being designed, implemented and pushed for adoption.
'For who's benefit are these solutions being designed, ...is there an alternative?'
'My understanding of my world informs my opinions, my opinions shape my ethics, my ethics impact my solutions and my solutions guidepost my future endeavours.'
'The greatest challenge we each face: is to ensure our opinions remain Sovereign.'
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