Through financial incentives provided by blockchain based projects, we’re witnessing the single most impactful technological catalyst which will open up numerous markets, except the value no longer will accrue to the aggregator but rather to the individuals and companies that are providing the data.
… But what if people could organize into this proverbial “firm” without having to trust one another? Through blockchains and cryptoeconomics, the time and complexity of developing trust is abstracted away, which allows a large number people to collaborate and share in the profits of such collaboration without a hierarchical structure of a traditional firm. Today, middlemen and rent seekers are a necessary evil in order to keep order, maintain safety, and…
…ling with sensitive data; the safekeeping of which we’re forced to rely on third parties for today. Through cryptoeconomics, users don’t need to trust in any individual or organization but rather in the theory that humans will behave rationally when correctly incentivized.
…nt. This has led to an influx of teams building decentralized projects seeking to take advantage of the most valuable property of blockchains — the ability to reach a shared truth that everyone agrees on without intermediaries or a centralized authority.