The Slow Price Movement: Web3 & the evolution of market computation
By Ellie Rennie and Jason PottsMarkets are computersIt was FA Hayek (not Salma Hayek) who first explained to economists, in 1945, that markets are computers. What they ‘computed’ was social coordination using price signals. Through the haggling and jostling and bids and asks of trade, markets compute prices that condense a plethora of distributed subjective information into a single observable metric that can coordinate the plans and actions of a very large number of people, who otherwise, wi...
The Slow Price Movement: Web3 & the evolution of market computation
By Ellie Rennie and Jason PottsMarkets are computersIt was FA Hayek (not Salma Hayek) who first explained to economists, in 1945, that markets are computers. What they ‘computed’ was social coordination using price signals. Through the haggling and jostling and bids and asks of trade, markets compute prices that condense a plethora of distributed subjective information into a single observable metric that can coordinate the plans and actions of a very large number of people, who otherwise, wi...
DAO suit
"Why not have a DAO all to myself?" I say to JP. A software encasing that contains my instructions for managing the various rule systems I have to interact with, and which can communicate with other DAOs and smart contracts on my behalf. It's more than a wallet because it's an entity that I have created, and its boundaries and surface adapt to what I have to negotiate. It fits the space I inhabit in a world of rules and obligations. But I control it, not those who impose the rules. ...
DAO suit
"Why not have a DAO all to myself?" I say to JP. A software encasing that contains my instructions for managing the various rule systems I have to interact with, and which can communicate with other DAOs and smart contracts on my behalf. It's more than a wallet because it's an entity that I have created, and its boundaries and surface adapt to what I have to negotiate. It fits the space I inhabit in a world of rules and obligations. But I control it, not those who impose the rules. ...
