An anecdote: a handful engineers I've worked with (and they're all high quality) have resigned from traditional bigtech to work in open source finance within crypto.
It's as though pandemic solitude gave many the mind-time to ponder their authentic values hierarchy.
I'm glad more bright minds will be spending less time working directly or indirectly on ads. It's hard to watch.
hmmm, i can loan stablecoins via crypto & receive interest with zero intermediary. or i can sell digital assets (e.g. art or IP) directly as an artist anywhere in the world, uncensorably & without revealing my identity (e.g. if in China). pretty useful.
Open finance already exists. My neighbors and I trade tomatoes for lemons occasionally. Bartering is open finance. Shackling yourself to some meme token does not seem very open to me, compared to exchange of goods which has certainly stood the test of time and the rise and fall of countless societies. Can't really say the same for crypto.
Brave is a really good example of where the two can even meet. It would not have been possible without crypto, and I'd suggest it's much more useful than the entire traditional ad industry.
Whereas with crypto, you can just ignore the subject entirely if you so wish. You won't be shouted at, when you open your digital newspaper to read stuff, that YOU SHOULD TOTALLY GET MORE DOGECOIN!!!
Ironically, that’s mainly because all ad exchanges ban crypto ads. Google has actually reversed course on this [1] and soon you’ll start seeing crypto ads too. Sadly, I already see tons of crypto related ads on Instagram already. Also, I’m not sure which digital newspaper you refer to, but I see articles about crypto pretty much on a daily basis on most websites.
People like to say ads are useless, and then talk about how they listen to others’ recommendations and blogs and videos, conveniently ignoring that they’re also ads.
I'm happy with crypto investors being bled out of their money... Not so happy with adds and tracking me for useless things as this affects also those companies who buys adds...
From how I perceive the definition of the 'crypto' domain, it's a lot wider in range than currencies/tokens. These are just one integral primitive of a p2p economy.
Many DAOs have massive (>$1B) treasuries that are used to fund development and marketing. Developers propose OSS projects and these orgs give out grants based on community votes. See https://gitcoin.co or the Uniswap Grants program for examples.
You create a decentralised service that crypto companies need, and then add a native token for governance. Governance token ends up having value (more than it should in a lot of cases) and the developers profit.
For example, people initially just had crypto tokens. Then came uniswap liquidity pools for exchanges. People could suddenly earn interest on their crypto. Uniswap creators profit.
Crypto organizations hire, give grants & ofc anyone can buy a token [if there's one present] & start writing code / content etc. to make that token more valuable.
For many, their wealth is derived more from crypto / token capital gain than traditional income. Its increased risk no doubt. More upside & downside.
It's as though pandemic solitude gave many the mind-time to ponder their authentic values hierarchy.
I'm glad more bright minds will be spending less time working directly or indirectly on ads. It's hard to watch.