- Tracy on a rat in India that broke into an ATM, ate $20,000 worth of cash, and consequently died. Turns out Warren Buffett was more wrong than we initially suspected when he labelled bitcoin "rat poison squared."
IN CASE YOU MISSED IT
🗞 For today's trending headlines head on over here.
READS OF THE DAY
📖 How to be an expert in a changing world Paul Graham on how to protect yourself from obsolete beliefs and avoid becoming a prisoner of your own expertise.
📖 The digital maginot line On the rise of new digital nation states (social platforms that act as unregulated, privately-governed public squares for 2 billion citizens), governance, and cyberwars.
LAUNCHES & UPDATES OF THE DAY
🕵️♀️ Aztec Enabling confidential transactions for any generic digital asset on Ethereum, starting with Dai.
🐟 Bitfish Paving the way to a more decentralized world with information, collateralization and co-ownership.
🛑 XRP Away™️ Automatically block XRP bots in your Twitter mentions.
THOUGHT OF THE DAY
🏛 The Growing Focus on Governance
"Part of the historic under-focus on governance systems may be due to the fact that governance concerns are perceived to be about the future. To think about governance processes before they need to be deployed requires a layer of abstraction that can seem distracting in the face of more immediate concerns.
This way of thinking creates a challenge, however. Governance is, fundamentally, a rules engine that dictates how a protocol can evolve and adapt to changing circumstances. This sort of rules engine is extremely hard to add in later and impose upon a community once it has a set of functioning social norms, but without it, big challenges arise.
As the industry matures, however, projects find themselves having to address pesky governance issues that once seemed far off. How to deal with factions who want to see different block sizes? How to address major hacks and loss of funds? How to simply make decisions with finality around the world of potential feature changes?"
Chris McCoy identifies market patterns in protocols being developed today, the three major ways governance breaks down, and why governance design one of the biggest barriers to entry for institutions over here.