Bankless Year-End Summary: Encrypted Networks Will Overthrow Old Power Systems

To repeat this year, I would like to take this opportunity to slow down and concentrate.

2021 is a good year for cryptocurrencies. This year, the crypto community has followed a number of approaches.

The increase in money pushes people into other forms of inefficiency.

Silicon Valley's business model allows people to embrace the new platform.

Banks have relied on people to wipe out many of the bank's assets.

This year is the big W for all crypto disciplines and the big L for all existing ones.

What to do?

The world is now changing stages. According to old age organizations, the news manages the pain of growing up. The old world, which amazes young people, is transformed by the changes created by people who were not free in the past.

The other side of this change is a better future with seamless integration and seamless integration for all users.

The end is not guaranteed, but expect it to be.

The beneficiaries of the newly developed encrypted network can easily become the sponsors of the future. Just as baby boomers learned the skills of the post WWII period, thousands of years gave up the skills of the digital age.

Will our children ever recognize our social background as we have in the past?

The answer to this important question is ours.

kev pom zoo shipwreck theory

The Right Sink Thesis was a key idea that Ryan and I promoted when creating Bankless. He stressed that businesses, organizations, individuals and countries will be created by reliable and neutral legal processes rather than by third parties in exchange.

Decentralized processes often penetrate the foundation of community beliefs as the fluid thickens to the bottom of the glass.

ETH is honey

Take the example of a start-up.

It is safer for a company to start developing contracts in a fair manner than you think other companies would not break the law. These contracts allow strong recognition of economic models and medium-term developments. Since contracts are a public good, it's easier for startups to get an offer than an offer.

You can configure AOL over the Internet, but you cannot configure AOL over the Internet.

In February 2020, Ryan wrote: “Banks won't use their own loans, they will use Compound. Last week, Coinbase announced that it would join the Compound to increase DAI revenue. Coinbase uses two trusted DeFi apps and media, Compound and Maker, to create commercial products.

The services provided by this contract are the products offered by Coinbase. You can create the same product on Binance, Kraken, Gemini, or any other company that needs Compound money and send it to their customers.

Fortunately, people can benefit directly from themselves.

This model shows that the scalability of a contract is stronger than the scalability of a company. Many companies can offer a contract, and these companies can extend the contract products to more people than a single legal person.

Contracts can involve more than one person per company.

This is why the design of these rules is so important.

Many companies will harness the power of the DeFi app in conjunction with other DeFi apps to develop products.

Lego Tricks - Another meme with no money.

Application Position Depth In the process pool, multiple applications and resources are created at the top of the process. Uniswap liquidity is accessible through the defi app, DEX aggregators and businesses. Design decisions were made when Uniswap was designed to impact all of its users, the algorithm of interest defined by the compound affected for each company and each individual was low on their risk value, and the risk of MakerDAO's risk also affects DAI's income. every $ 9 billion. . in US dollars.

Since these rules have relative scalability, design options are critical. Perhaps the underlying consequences of a good or a bad choice can change the course of humanity.

don't start a war

When I signed up for Facebook in high school, I had no idea that Facebook would start a world war and make the world the most powerful country in the world. We have no way of knowing the long term impact of Facebook's business model or all of the benefits of Web2.

But we have come now. We have a rich man from Silicon Valley who can challenge the power of the nation state. Humans, Web2 businesses, and people-states use them as energy resources.

The way we create social systems matters. Today, an unimportant design decision can lead to long-term damage. Even the slightest hint of revival can build lasting relationships for generations to come.

If we want these models to work for us, our children, and our children, we have to think big when designing these processes. When a relationship prefers one team over another, that difference will eventually become large enough to help the failing team clear up the issues and start over.

party

"Clean up the slate" (forgive or forget past mistakes and start over) is a tradition in human culture. As servants, we seem to let go of the need to pay our bills and start over.

We have one word to describe it: Jubilee.

The Debt Jubilee offers the forgiveness of untied debts, the freedom from chains of debtors and the freedom to start a new life. There are many types of religious jubilees, but they are often associated with the forgiveness of serious sins (debt and sin are social norms, according to David Graebe).

Sometimes model relationships get too deep and lack independence. The organization seems to have gotten into the end, and the only way out is to take a few steps back.

The register is erased and the capital is damaged.

The course of the landscape is leveled and people start again.

It was the Protestant Reformation, the French Revolution, the Communist Revolution, the Cuban Revolution and many other wars. The public has become suspicious of important people and is cleaning up their books.

When people are different, dissidents are reluctant to go forward with important people. They are rebels. They force the elite to split the money until they are honest enough to get back into the joint venture.

The social models by which society operates determine how quickly people reach this state. Conflict patterns can quickly escalate into conflict, and the effects of a strained relationship will make the situation more stable over time.

I have never heard of TCP / IP or SMTP leading to war. And Facebook has been through almost two wars.

The goal is not to back down

The organization works small on a daily basis. We all get up in the morning, drink coffee and "work". This work has added success and innovation to the global community on a daily basis.

Success is expensive. In order to change the weight of the whole human being, the mechanical relationship must go through the speed of the snail, and even the smallest innovation requires substantive co-working.

And all of this can be changed by change. The organization still faces the threat of division. If so many people in the community believe that we are on the wrong track, it will be difficult for us to change the way we do things. If a lot of people in the community think we're coming to the end, we're going to start breaking up into groups ... and that's often bad.

Human success is a story of two steps forward and one step back. Sometimes, if you're lucky, you can take the following three steps. But if you're unlucky, you can take three steps back. If we're really messed up, we can make the mistake of restarting (big filter theory).

Consensus is a springboard

Steve Jobs once said that "the computer is the mind's bicycle". The tools we create let you do more with less. This comparison can be extended to all of humanity, where people can use the perception people have of using tools.

The Constitution is the basis for the creation of the United Nations.

Recognition is a tool for community engagement. There are many ways to "fix" an upgrade to a consensus that anyone can accept. We can be confident that the contracts we create will last forever, even if they come and go.

The Internet is a good example. All the organizations agree. Internet is awesome. We now have a new way of integrating global resources that we have never encountered before. The important thing is that we cannot lose the Internet. It cannot cause paralysis and cannot be cut.

This consensus makes it possible to measure the extent of human development because we all live in the same environment. The internationally recognized process allows people to "stand on the same starting line". We can all do better when we follow the same rules.

If you want to go fast, go alone; If you want to go far, go together.

Those who shout WAGMI know it. At least they know it.

Building trust by consensus

Looking at the advancement of human history from a macro perspective, it can be seen that expanding the trust, cooperation and economy of the population as a whole is the goal of the importance of humanity so far.

We are asked: what are you doing here? Or, alternatively, people have to “share” first before they can begin to develop answers to the question “For what purpose do we share?

However, our primary goal of a species is to create a collective commitment to help manage people of sufficient size so that we can work together for a common goal.

Our life is to kill the god Moro.

Religious, monarchical, national, and now encrypted networks are all advancements in social media technology. Based on the latest and most advanced collaborative technology, transparent communication has the potential to create huge collaborations and beyond anything that has been seen before.

This is why we are all here. That's all it means.

People are good but our bodies are not good

People have a good understanding of justice. Morality is written in our DNA. We have special radars that can identify "conflicts" between individuals and other members of a group.

Editor's note: It's not just for humans! This goodness is found in all kinds of animals, including bats, monkeys, and babies.

Thousands of years before our resources were plentiful, it was important to know which of us was not supporting us. While it can work, it's a matter of life and death.

We have lived as a species because we are constantly checking to see if someone can be "free" or spend more money than they should be.

But it is hard work. The self-assessment did not measure the quality. Transfiguration, governance and cooperation must establish fairness and integrity. Faith encourages kindness and generosity, the king works for his people, and the government pays taxes on the use of public funds.

While each system generally operates more efficiently than ever before, each system also has its own set of failures and drawbacks. There is no such thing as a perfect system, but people still struggle to find systems that have flaws. People are born good, but we have to adjust and adjust accordingly. The downside we see in coexistence is not because people are suspicious of it, but because our social models are negative for behavior.

People can do well by our standards. We are always looking for more balance. Because the equation is fairer, more fairness can be achieved.

Global justice includes more than that to create long-term fairness that people can improve upon. This allows us to work in groups before small changes in an individual start-up work that are beneficial and beneficial to all.

Renaissance of crypto

One of our favorite Bankless episodes is “Crypto Renaissance”.

Why?

Because it's not about code or money. It's about people.

Crypto Renaissance tells the same story over time. Hierarchical and deeply rooted social structures persecute humans. Corruption and enslavement make these systems unusable and inefficient. New procedures have been developed to eliminate control over old processes. This new system is essentially a distribution system, without authorization and, like the virus, free from the grip of the old elite.

A new world has been created, a better future to share.

Then the wheel turns. This new future continues to measure and improve. New construction has been slow because the process has gone too far. It has become huge and difficult to overcome. The shift from utilitarianism to chaebolism has deprived the laggards.

The younger generation, who had to endure the persecution, finally found a way out, and the tools they used were decentralization and the removal of licenses.

a small window at the time

It is as if we were born too late to explore the world and too early to explore space. Fortunately, we are living in a great time to explore the digital world.

Encrypted networks take over the traditional power supply. Good or bad There is no guarantee it will be "better", but it will replace the old electric model with the new, more powerful one.

But it all depends on us.

Whether encrypted networks burn candles quickly or sustainably over many generations will depend on the choice of the first generation that created this structure.

Do we develop this way of protecting our interests when we design these new models of power? Well, why us? We create ... Isn't that what the baby boomers did for organizations?

Are we creating these models just to help us?

Or ... do you make room for future generations when designing these models? The future is not born again to be placed in our beautiful new record. If we don't give them room now, they will fight like we do against our people now.

From an investment perspective, this should be the way to get the most out of it. If we can find a way to count the next generation in the space above, we can fight long and hard.

As an organization, you can create more wealth in real time without jubilee competition. Our goal is not to have a jubilee, and now we need to think about this question before the encrypted network we are developing takes on its final form.

The window of time is short and depends on how you modify and fine-tune these systems to achieve the same long-term equilibrium for as many generations as possible.

Bankless is a zero level technological release.

Bankless is here to tell this story.

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What they have in common is the human. People build trust, select agents, download special software, and manage special channels.

It's the people around the world who hold the relationships we've built.

L1 blockchains support L2 rollups just like humans support L1 blockchains. When the L1 blockchain is synced online, people sync across the stories.

People run through stories. This is how we work. Stories are tools we use to better understand more people, and through them the world will be exposed to the latest technology. If you give me an explanation of the research or the controversy, I can convince you. But if I told a story that I could relate to, I might be seduced.

Without a bank, that's history.

The reason Bankless has 150,000 users, 1.5 million pulls per month, and thousands of people passionate about sharing Bankless data isn't because we deliver quality content and metrics. Because they do it by showing that encryption can make the world a better place.

Signification, importance, but.

Like everything in our social world, Bankless is descriptive. It embodies certain beliefs about the future and envisions stories of how we got there.

Bankless is a story that aims to spread awareness and awareness of these new social norms that we have seen and the means needed to prevent them.

Inflation, governance, polarization, digital scarcity, browsing search, banking, DeFi, Web3, transparency, Facebook → meta, metaverse, NFT, sovereignty, long-term thinking

It's all part of a bigger story and I think Bankless can tell.

Many people remember this story and they are ready to play a responsible role in maintaining the goodwill in the process we use we will be better and more profitable.

No bank makes you rich, but not at the expense of the next generation. We want you to be rich now, in the future and in the future of your children. Bankless promotes fairness and balance in relationships and helps improve relationships that still need work.

Bankless is here to extend the rabbit hole on crypto networks. Just as the manufacturers in the industry dig deep into the rabbit hole, Bankless digs wide so that many people can understand why they had to quit in the first place. The sooner we allow more people to use cryptographic techniques, the sooner we can find fair and equitable solutions to achieve long-term balances for future generations.

When using an encryption procedure, it receives the encryption value. We have a responsibility to ensure that the cost of the encrypted network is competitive for those who receive it in the long run.

Don't be fooled by short-termists and nihilists.

Decentralization is important and we intend to fight it.

We go west. It is not for everyone and it is looking forward to it.

But thank you for joining us on our way to Bankless.