The Space of Possible Economic Relationships
A concept I often use to explain the potential of blockchain technology is “the space of possible economic relationships”. What do I mean by economic relationships? I mean any situation where two or more persons enter into a relationship concerned with value: A transfer of cash An informal agreement to borrow money from a friend A legal contract to buy a house The relationship between all the shareholders of a corporation The relationship between all persons who use US dollars This is meant to be very broad, including informal agreements, legal contracts, and very diffuse relationships that we don’t often think about, like sharing a national currency. ...