# Platforms for Innovation

By [jer979](https://paragraph.com/@jer979-2) · 2022-10-04

---

I sent a letter to the editor of the WSJ the other day, following up on the article about DeFi’s “[Existential Problem.”](http://blog.neverstopmarketing.com/?p=103564)

I’m glad I did.

My first draft was too wordy and a bit clunky, but as I refined it, the ideas started to take shape.

The basic point I was trying to make (not publishing it here b/c I don’t want to blow what little chance I have of it getting printed) was that Crypto/blockchains are like the Internet in that both are platforms for new business models.

I’ve said this thousands of times before, but, for some reason, this time, things started to come into focus a bit more for me.

The more I grapple with an idea, the better. Of course, there’s always the risk that I fall in love with an idea, thinking it’s a breakthrough, only to be told that it’s obvious to others.

But that doesn’t matter. What matters is that it became more and more clear in my head.

I’ve used the terms “platform” and ‘innovations” tens of thousands of times, but for some reason, writing that letter, gave me the strongest mental visual I’ve had.

And it reinforced for me that we’re on to something big.

Once upon a time, building a website was really expensive and time-consuming.

Then, cloud service providers came along and it became a question of “plugging into the Internet” to get the back-end services that you need.

Today, setting up your own financial services company is really [expensive](https://twitter.com/PeterSchiff/status/1543770287153504256). Tomorrow, it’ll be “plugging into the Internet.”

> Also it costs a fortune to run a small bank. That's why I never really made any money. The compliance costs are outrageous.
> 
> — Peter Schiff (@PeterSchiff) [July 4, 2022](https://twitter.com/PeterSchiff/status/1543770287153504256?ref_src=twsrc%5Etfw)

---

*Originally published on [jer979](https://paragraph.com/@jer979-2/platforms-for-innovation)*