# INTRO

❌❗️🔆

## Trump, Melania & Javier
_Days before his return to the White House, President Trump and First Lady Melania Trump each launched their own cryptocurrency coin._

_Unlike Bitcoin, it didn't promise to protect against inflation or envision a future of decentralized money. Trump instead said that it would celebrate everything we stand for. When it's done. But as the president took office, the Trump token frenzy had many in the crypto community worried. They feared another meme coin craze could risk the legitimacy of an industry already beleaguered by scandal._

_Argentina President Javier Mallet just shot himself in the foot with one of the wildest most self-inflicted disasters in crypto history._

🔆 more links
## Peth pensive

![[Pasted image 20250403221700.png]]

Been here for 8 years, and the only time things looked this bad was during covid.

Crypto has been overrun by grifters & scammers, and degens are reliably here, hopping on the next loudest thing & hoping to dump it on the next person. The greater fool.

Real value & products don‘t matter, what pumps most is what makes the most noise.

Billions rugged in celebrity pump ‘n‘ dumps. Most successful app? Pump.fun, making >$500m from fees of people who are only here to gamble.

...is it really all just a casino?

On the other side, close to $100bn lost through various exchange hacks & protocol exploits.
No wonder nobody trusts crypto - supposedly the most trustful technology.
## B-roll

*Kim Kardashian, Floyd Mayweather, DJ Khaled, Logan Paul, Paris Hilton, Steven Seagal, T.I., Akon, Lindsay Lohan*

*FTX collapse, 3AC collapse, Nomad bridge hacked, Wormhole exploited, Ronin exploit, ByBit largest theft in human history*

*Wintermute & other market maker shenanigans*

*Over 60,000 memecoins created every day, with Pump.fun earning well over $500m from the people launching & trading memecoins*

*CNN/CNBC reporting on Sam's arrest, charts plummeting, news reports of >$40b wipeout*

*Lazarus Group*

*"In the UK, 64% of surveyed consumers who are aware of crypto believe that “investing in it is basically gambling.”*

*A 2024 Pew survey found **75% of Americans do not trust its reliability or safety** due to scams and market volatility​.*

*[In Edelman’s 2023 global survey](https://www.edelman.com/sites/g/files/aatuss191/files/2023-05/2023%20Edelman%20Trust%20Barometer%20Insights%20for%20the%20Financial%20Services%20Sector.pdf#:~:text=FinTech%20Distrusted%3B%20Trust%20in%20Crypto,50%2049%2036%20Banks%20Personal), **crypto was distrusted by every demographic segment**. The nail in the coffin was lower trust than banks that we are supposed to revolutionize.*

![[Pasted image 20250422232828.png]]

![[Pasted image 20250422232839.png]]
❗️*popricajmo o ovim ss*

Fuck kRypto
# INTRO DEPPRESION

## Nightmare
*Hashes, Nodes, Consensus, Gas, Public Key, Private Key, ERC-20, NFT, DeFi, Liquidity Pool, Yield Farming, Staking, Fork, Layer 2, Bridging, Rollups, Oracle, Sharding, Cold Storage, Hot Wallet, Mempool, Nonce, Block Genesis, Block Halving, Altcoins, CEX, DEX, Cryptography, ZK-Proof, Merkle Tree, Bytecode, Virtual Machine, Hash Rate, Difficulty, Validators, Finality, Throughput, Blocksize, Atomic Swaps, Block Explorer, Byzantine Fault Tolerance, Consensus Algorithm, Hard Fork, Soft Fork*

WHAT DOES IT ALL MEEEEAN
# THE CALL

*peth waking up to MD calling*
**MD**: Yo, going to Devcon?
**peth:** To see another round of L2 presentations & infra talks? Pass.
**MD**: Thats not all there is to crypto...
**peth:** Yeah you‘re right! There are also memecoins! 😂
**MD**: Nah man, memecoins peaked with TRUMP, memecoins down only, realcoins up
**peth:** I don‘t know man...
**MD**: Real stuff is happening, just not where everyone's looking.
**peth:** So where is it?
- *Peth looks at an old Devcon badge on his desk, hesitates, then starts packing.*

❗️tu treba snimiti jos neke stvari nakon poziva kako razmisljas i kako se ipak odlucujes krenuti, kako kupujes kartu za avion npr i onda ona animacija s avionom

In times like this, I like to think about what got me here...

Let‘s just say I spent a too much time studying the 2008 crisis, how money and banking work, and how the banks & corporations co-opt states to squeeze as much profit from citizens.
# BITCOIN

_So, it all started with Bitcoin and the 2008 financial crisis, where the banks decided to speculate and crash the market accidentally. The banks got saved, bank managers got bonuses, and the people got shafted. So Bitcoin was created as a response to all of that._

_It's outside of the existing system._

_(...)_

_There is a limited supply._

(21 million)

_It is understood how many exist. No more can be printed, created in any capacity.(...) Those things empower people to have more confidence in leveraging and using this new solution for storing their money outside of a system that has proven to be precarious and in some cases fail and destroy their wealth._

_(...)_

_You take money out of people's control. And I think that's way superior than all the other forms (of money) we have._

The more you understand how fiat money & banking work, the easier it becomes to understand the value of crypto.

Here‘s a fun fact:
- Did you know banks use the money in your savings account to make money, and then give you less than 10% of the profit?
- That under the fractional reserve banking, banks only need to hold 1-10% of money in reserve, while creating money out of thin air as debt?

They get to use 10-100x leverage, and in case they blow up, government bails them because they‘re "too big to fail" - you‘re the one who pays, through inflation.
## B-roll

*Wall street bull, Stocks crashing*

> "The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust." - Satoshi Nakomoto

> "What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party." - Satoshi Nakamoto
# STABLECOINS
Since Bitcoin is as volatile as it is, people started making stablecoins, which are usually tokens that maintain 1:1 value with US dollar.

_Stablecoins are kind of the first proof that a financial system on the internet is working on a global scale._

_And when you talk to people from Europe specifically, but even in the US or more developed countries,(...) they don't get it. It's like, oh yeah, why is that important? Like, what's wrong with the government? They don't understand that the government and money are not such a good combination._

_(...)_

_And they don't understand how much misery that can bring to people, just to regular people. In Argentina, we live that every day. And people are kind of desperate to find ways to avoid that. And so that's why they are so open to crypto in general. And that's why the cryptadop in Argentina is so high. And that's why I think the biggest driver for cryptadop is store of value and using the stablecoins to hedge against the devaluation of the peso and the capital restrictions as well._

In the past 10 years alone, here‘s some inflation per year:
- *Venezuela: 18,070%
- *Zimbabwe: 273%
- *Sudan: 172%*
- Lebanon: 151%
- Syria: 139%
- Argentina: 125%
- South Sudan: 119%
- Turkey: 56%
- Iran: 43%
- Suriname: 38%
- Yemen: 41%
- Libya: 28%
- Haiti: 25%
- Liberia: 25%*

Imagine losing 25% of your savings per year, IN THE BEST CASE.

Here are some total currency collapses in the past 100 years:
*Germany, Hungary, Zimbabwe, Yugoslavia, Greece, China, Nicaragua, Peru, Armenia, Ukraine, Georgia, Bolivia, Venezuela, Vietnam, Brazil*

If you were saving up in any of these countries, your savings were completely & utterly fucked.
So even though US dollar is losing at least 5% per year, that‘s MUCH better than most fiat.
## An answer to bank deplatforming
Stablecoin payments are also great for people and projects whose bank accounts get frozen, or banks refuse to serve them - like a lot of crypto startups in the past & sex workers in the present.

_We're seeing things like what we saw in Palestine with WikiLeaks, with SciHub, as well as another example where they receive cryptocurrency as a way to get around financial blockades._

## An answer to payment processing
Sending stablecoins is also much cheaper than traditional payment processors.
- Visa, Mastercard & Stripe = 2.8-4.3% fee
- Domestic wire transfers = $15-45
- International transfers = $35-80
- Stablecoins = fraction of a cent, globally

Savings from using stablecoins will be BILLIONS per year.

*And those things, that works. And we're, like, way past the point of, like, asking ourselves, is crypto useful?*
## B-roll
- *Stablecoins overtaking Mastercard graph*
- *Inflation graphs & carts of fiat cash*
- *Visualization of current spend vs future spend*
# TECHNOFEUDALISM

_The downside of Web2 is that we've ended up with a relatively small number of incredibly powerful companies that control major aspects of our lives. They're basically able to extract attacks on everything that anyone tries to do._

_So I think until around 2008 or 2009, we saw the positive side of Web2. But I think after 2008 or 2009, yeah, the platform centralization started to happen. The big platforms grew bigger and bigger and it became harder and harder to be independent on the Web._

Amazon, Facebook, X, Spotify & YouTube decide what you see or don‘t see. And you see what maximizes their profits.

_Then it also introduced massive dark patterns. It introduced people being hijacked into likes, like showing people things that they look at that they might not want to see, but infuriates them, making people feel senses of social inadequacy, like farming people's data. Sixty three percent of the world's population, approximately five point one three billion people are on social media. How many of those actually get a cent for all the content that they're producing? It's the shareholders of these large centralized organization._

Ovo sam maknuo, al mozda nebi bilo lose vratit:
*63%(...) of the world's population approximately 5.13 billion people are on social media. How many of those actually get a cent for all the content that they're producing? It's the shareholders of these large centralized organizations.*

Facebook pages, X profiles, Amazon accounts - all can get frozen with no recourse.
You don‘t own the profiles, social graphs or anything really. You just work their land.

Our data that they farm is likewise theirs to resell or use. Amazon & Spotify are also known to start producing their own versions of what sells, and marginalizing original producers.

They are private markets, where the middleman grew to have too much leverage, and is now maximizing profit. This is extensively covered in the book Chokepoint Capitalism.

_I was working with a doctor who was taking blood tests and then prescribing supplements that would help to support people's bodies. And he actually ended up losing his medical license because he wasn't following up with FDA approved treatments. So it didn't matter if people were getting better. It didn't matter if they were living longer, they were overcoming chronic illness. It just mattered that he wasn't following up with the treatments that were pumping the bags._

_The fact is power corrupts. And if we can't decentralize power structures, then we're just going to have corrupt infrastructure._

All of this is a result of centralization.

So... Banks debanking crypto startups, appstores refusing to list crypto apps, states making crypto illegal in some cases - whats that all about? Makes you wonder...
## B-roll
- *Spotify takes an 88% cut on song streams*
- *Amazon takes up to 95% cut on physical books*
- *Airbnb & Booking.com take up to 25%*
- *YouTube takes 45% of ad revenue*
- *Uber & Lyft take up to 60%*
- *DoorDash & Uber Eats take up to 30%*
- *Stock image sites like Shutterstock take up to 85%*
- *Academic publishers charge $30-50/download, writers get 0*
- *TikTok keeps 90-95% of their revenue*
- *Facebook keeps 100% of ad revenue*
- *Kickstarter takes 8-10%, Indiegogo 8%, Patreon 8-15%*. ❗️ovo treba provjeriti jel istina uopce

# ENTER ETHEREUM

_Then came Ethereum, a platform for decentralized applications. The world computer._

_That anybody can trust, everybody can use, and nobody can turn it off or change how it works. No one controls it._

_Nobody owns the Bitcoin and Ethereum network. They are made up of thousands and thousands of computers around the world that are incentivized to run its code in exchange for its tokens._

❗️pogledaj ovo sve jos jednom mozda nesto snimiti ponovno

_Smart contact set the rules around what can or cannot be done. They allow us to codify laws and agreements. It was literally impossible to have money or assets on the internet without big centralized middlemen saying, "Trust me, bro."_

_You don't have to have all these intermediaries in your life(...) to basically allow people to coordinate and work together that you used mathematics and code to facilitate that._

And everything built on Ethereum can be extended or made to work together with everything else built on Ethereum.

_I think the killer feature of blockchains and Web3 generally is this thing called composability.(...) I think of it as just permissionless interoperability._

_You're empowering your community to extend your application into infinity._

_Same data and functionality can be available across different interfaces(...) mixed and composed into other applications._

_There's a lot of opportunity to build something that's more interoperable, you know, like just moving reputation across those different applications and taking out the middleman that's just raking in fees._

_Maybe someone comes up with decentralized Uber, which is just really an algorithm between drivers and riders. Why do we have this massive corporation that's sucking up billions and billions of dollars, ripping off both sides of the equation in terms of the actual service providers and the people receiving the service? But we could do this for communications, for power,(...) for maybe healthcare education._

Besides building fairer, better & more interoperable versions of everything we have - there will be new kinds of applications we haven't imagined yet.

_We have this technology to create a decentralized computer and it's programmable. And so when we say, what can we do with it? It's like, well, what can you do with an iPhone? What can you do with the laptop?(...) The sky's the limit._

# MEETING AT HOTEL
We talked late into the night. Or rather, it was a monologue by METADREAMER trying to convince me that everything is going great, and that great progress has been made.

*Crypto iceberg meme:*
- Memecoins
- Altcoins
- Stablecoins
- DeFi
- ReFi
- ​DAOs
- dApps
- ​DeSci
- ​GameFi
- InfoFi
- Web3 Social
- ​DePIN
- ​RWAs
- ​AI x Crypto

It kinda worked, so I woke up early and went straight to Devcon.

# ARRIVING ON DEVCON
- Recycle arrival video
- Maybe add drone footage
- “Where are the apps?” Looking around booths, walking with the sign
- Clips from Clouted & Sassano interviews

*When I watched Devcon 1 videos, it was about dapps & its what got me in, all of these decentralized apps & platforms felt like they are 3-5 years away, now theyre not even talked about....*
- Clips of builders showcasing apps, from past Devcons?

*Going deeper & deeper into infra land instead of thinking about what we set out to do in the first place, realizing we have everything we need in terms of scaling, UX etc.

❗️ovdje ne bi nista tako napravila osim mozda onog gore, treba popricati, nije mi bas najjasnije sta se dogada - da, ovo je ful davno napisano i nikad promjenjeno, mozda bi skroz trebalo izbacit i da cijeli arrival bude b-roll za no more excuses

# NO MORE EXCUSES

_So money without the government, Airbnb without the Airbnb, Uber without Uber, insurance without the insurance company. It all sounded so great. So what happened?_

_And CryptoKitties was such a fun project. This silly little cat game was able to bring the Ethereum network to its knees. I was frankly shocked because this was 2017. There had been in that year over a billion dollars raised in various ICOs with people promising to, you know, completely change the insurance industry, the real estate industry, the way that supply chains are managed, the way that people are paid, right? Like we had a cat game with 100,000 users and the whole network was ground to a halt._

_As a response to these scaling issues and UX issues, the community focus on infrastructure and it's been infra, infra, infra, infra._

_Goodness gracious enough with it!_

_What is it actually doing?_

We have abundant & cheap blockspace. Things like **Privy** allow us to build Web3 apps on par with Web2 in terms of ease of access. Other tooling & regulatory environment also got better.

There is no more excuses left.

_We can really make a change in the world if people start to focus on the application layer of the technology and especially with purpose, you know, for solving real world problems with this super powerful technology._
## B-roll
*People want... Tweet*
*Danny Ryan Interview*
??? L2s L2Beat
16,000 Blockchains
*MegaETH speed*_

# NOTE
Links to all mentioned projects are in the repository linked below.
# DEFI

_The whole point of finance is to finance, that's why the word is, the entrepreneurship and the investment in the world._

_Finance is really more powerful when it aggregates into the same spot. Markets are more liquid if more people are trading them. This is why Wall Street is so powerful. The power and gravity of Wall Street just collects all the capital, it collects the liquidity, it collects the traders, and therefore becomes the epicenter of finance. But nonetheless, there are financial centers that are not Wall Street. There's the Chinese stock market, there's the Japanese stock market. And so finance is spread around all of the world in these different pockets because it has not been able to be expressed on the internet. What is DeFi? Well, DeFi is just the idea that we can have a more liquid, more accessible financial system_

_on the internet. This enterprise finance is almost done that when you remove the bid on man, you increase the efficiency. And as a user, you end up getting a better deal than what you will get inside the off-chain economy._

_The money in my bank account is earning me a whopping 0.02% interest rate. Some of the most safe yields in DeFi is like a modest 3% to 5%. It's 24-7, 365, doesn't know your holidays, doesn't know what time zones are, it just is going at all times. And anyone with an internet connection is on the same playing field as anyone else also with an internet connection around the world._

_I think the first wave of DeFi built a great foundation, a great framework upon which we can build and create new legals on, but now it's to the next generation of DeFi protocols to create new use cases, maybe closer to what we call a bit earlier normal people._

**Uniswap** made it possible for anyone to create a market for any token and **Aave** made it possible to lend or borrow. This allowed anyone to put their idle capital to use & make passive income, called yield.

Fast forward to 2025, there are dozens if not hundreds of protocols with their own twists, like **Morpho**, **teller.eth** & **PWN**. With **Pendle**, you can even trade yield itself!

Downside was that you needed to have collateral to borrow money. But today, there‘s an increasing number of "under-collateralized" loan protocols like **Goldfinch** & **Maple Finance**.

**Union Finance** enables people to build credit networks, where credit lines extend across social graphs based on people vouching for friends.

Use **Jumper** or **Matcha** to bridge or find the best trading route from any token anywhere to any token anywhere - or **DeBank** to get an overview. To insure against hacks & exploits, you can use **Nexus Mutual** or **Etherisc.**

Total value in DeFi grew from 0 to ??? in X years.

_As the growth of DeFi just gets larger, there's more capital there, there's more liquidity there, DeFi is just naturally going to attract more assets. Assets want to go to where there is liquidity, and eventually there will, instead of being seven different financial centers, there will just be one financial center, it'll be the internet. And slowly anything of value that can figure out how to become part of this internet economy will find its way there, and it's a one-way street, it will only go towards the internet economy._
## B-roll
- Aave market app page
- Farming aggregator app
- DeFi TVL growth

# TOKENIZATION
Tokens are data records that can track quantities, permissions & other data. Too abstract? Let‘s give examples!

_tokens as currencies are the most visible part, but we have seen tokens that represent work units. Also, local credit, which is a different form of currency, but we've also seen certain often termed utility tokens where fees and rebates are given. So value is something that is quite contextual._

_Because these gas costs are so much lower, people don't start collecting NFTs for any of the cases they like._

_Nowadays, you can see them as everything, like using them as tickets to enter co-working spaces or represent participation or accomplishment in the ecosystem as symbols of membership in a community or even voting, eligibility, etc._

_(...) Launched a project called Peach Drop, which is evolved into Peach Tycoon.(...) It was essentially just tokenizing boxes of peaches that are grown on our farm that are redeemable for actual peaches. In our second iteration, which is a little more interesting, we actually tokenized, it's kind of this proxy farming game, and we tokenized trees. Normally, you'd be waiting till, say, August to actually sell and receive compensation for the work you're putting in. We received, yeah, capital_

_upfront for a product that we would be producing much later, which allowed us to reinvest and make decisions and be a little bit more comfortable in investing into the crop and or things we needed to do. And obviously, this kind of Peach Tycoon concept is kind of this lightweight, silly, fun way of exposing people to the potential of what this could actually do for farmers from the perspective of fundraising, building better relationships with your end consumer, allowing consumers to have better access directly to consumer, cutting out the middleman in that capacity, both from a funding and from a distribution standpoint._

Besides Peach trees, there‘s a project tokenizing Kokonut farms. Houses with **RealT**. There‘s tokenized gold, songs, coupons & loyalty points. We had **funny toilet paper** NFTs which were used to wipe away $7m of medical debt for 5,323 families across 18 states.

_Using NFTs,(...) lots of different applications for regreening the desert, using tokens as not just a funding model, but an incentive model._

_(...)_

_Yeah, I think there's lots in the pipeline._

A lot indeed! Big players are tokenizing Real World Assets too.
**Mattereum**, **OpenEden**, **Ondo Finance**, **Backed** & **Securitize** are tokenizing anything from pokemon cards to stocks & bonds.

Not on a small scale.

**BlackRock**, the *biggest asset manager* in the world, wants to tokenize its $10+ trillion asset portfolio. Fidelity, third biggest asset manager in the world, is following suit.

**BNY Mellon** - *biggest bank globally with over $50 trillion in custody*, is adopting stablecoin payments, and has launched on-chain data for asset tracking & settlement on Ethereum.

- **Total: ~$66.2 trillion** - more than 50% the world‘s GDP in 2024
- Crypto market cap: <$3 trillion as of April 2025

JPMorgan, Goldman Sachs, Societe Generale, UBS, DBS Bank & others are all also building systems for settling transactions on Ethereum.

Projects like **Usual Money** are coming up with stablecoins backed by these RWAs. And f everything can be money - suddenly, there will be a lot more money.

If you want to see it in aggregate, you can check out **Polytrade** & **RWA.xyz**.
## B-roll
Folder u browseru
Mozda: *Etherealize Dashboard*. ❓ ja to ne razumim

# CAPITAL FLOWS

_is a very interesting possibility for collective capital raising that reduces the risk that any individual takes when they contribute their capital, their resources into the collective, where they can always pull it back if they don't like the direction of whatever their resources are being used for._

_Constitution DAO is a great example of something that was really uniquely possible with crypto.(...) Anyone with a wallet could participate in to take part in their bid to try to buy the US Constitution by donating to the effort. And if we lose, we'll refund the money._

_(...)_

_In the Web2 world, we could provide those refund guarantees inside of a smart contract. There were no overhead, no processing fees, refunds were automatic, things like that you just could not do in the Web2 world._

Ahem, I know a lot of projects disappeared with money during the Initial Coin Offering era, but back then these things didn‘t exist yet.
Now, let‘s focus on how projects are supported at the grassroots level, through donations.

_So I'm the founder of Gitcoin and we funded $65 million worth of good causes from open source software to climate work, anti-pandemic work. The primary mechanism behind Gitcoin is this thing called quadratic funding. And basically it's a crowdfunding campaign that allows you to fund what matters to everyday members of the community, not just what the rich and the few want. So the way it works is that first you put out a matching pool.(...) And second, projects that are doing good work in the community can apply to be a part of a crowdfunding campaign. And third, the money that they raise from their constituents are matched by the matching pool. And the match is based off of the more off of the number of contributors to the projects, not the amount that they give. I think that crypto is going to enable better ways to route money to the things that actually matter in these ecosystems because we can do it in a way that's more effective. It leverages that network-based intelligence that the internet can give us. A lot of these NGOs and governments that in the old world are supposed to be allocating resources to people that are in need, their administrative overhead can be over 50% of their budget. And with crypto, we can do it for less than 5% or 10% because we've automated the parts of the network that would require administrative overhead through blockchains._

So there are **Giveth**, **Gitcoin** & **Octant** distributing money mostly through quadratic matching. Then there‘s **Drips Network** for streaming payments, and **Juicebox** for donations where payments can automatically split to individual team members, but also, project revenue can flow back to donors via "revnets".

_What are my other favorite capital allocation mechanisms? I'll just show you the book real quick. So On Chain Capital Allocation Handbook is now available at_ [_allobook.getcoin.co_](http://allobook.getcoin.co)_._

Visualizations from Capital Allocation book?
# BOOTSTRAPING ECONOMIES

_A classic problem for platform economies is the initial bootstrapping problem. How do you get users to use it? Where traditional platform economies differ from token economies is that in a token economy, you can often bootstrap and distribute value initially to a lot of users. Where the value alignment that we traditionally see where it's primarily between investors and early founders, we now see between users, later users, and over time also the new users that are coming onto the system._

_Ultimately, moving towards this idea of community-owned infrastructure, which I think is much more exciting than VC-owned or whoever the billionaire founder of one of these tech companies is._

When things are owned largely by VCs, they tend to maximize profit. Making them community-owned should align incentives between stakeholders & result in better experience for users.

_That comes with a couple of benefits. For example, users often find other users and can talk to them and convince them that this is something that is also in their interest. Where people often go wrong in building these is to look much more at the speculative value that this can bring. Out of the hundreds of thousands to millions of tokens that have been created, very few have actually sustained an economy that has brought value to the users themselves outside of speculative value that has been captured, in my opinion, primarily by private investors.

_A project called QAAC, which is a mechanism that allows nonprofits to launch their own microeconomy. That is where an entrepreneur who wants to create value for society could actually launch their own girth and have their own upside potential in the value that they're contributing to the world. We're trying to make this a template model that any nonprofit could use. The goal is that they could create economies that really appreciate the value that they're creating._
# DEPIN

_I'm really excited to see where tokens can be used for real-world production._

_(...)_

_So, deep-in, decentralized physical infrastructure networks, for example, whether it's mesh networks or hosting networks or even like Airbnb-ing your hard drive for IPFS-type peer-to-peer hosting.(...) Today we exist in a privatized system where a few telecoms rake in a ton of money and overcharge everybody for using the service. If we could do it far cheaper, if we were to just do it as a protocol, let's say. So I think deep-in is really starting to eat into these natural monopolies, like power networks, even like AWS, Amazon Web Services. The majority of the web runs on AWS. It's a massive monolith._

_(...)_

_So I think decentralizing those and allowing the A, common ownership, and the common revenue sharing or enjoying in the profits of mutually provisioned infrastructure is the way going forward._

_Even if IPFS or RV, things like that go down, the content and its hash-paste addressing scheme,_

_(...)_

_you can create another distributed content network thing that uses the same kind of hash-paste discovery, and you can kind of recover it. So it's got more technological robustness as well. So both political and technological robustness. Right._

Currently, we got decentralized file storage with **Filecoin** & **Arweave**. Computation with **iExec** & **Render**. **Livepeer** does video transcoding & **Althea** offers internet infrastructure. **Power Ledger** & **Inverter Network** are used for energy sharing & trading, **DIMO** gathers car data and **HEALE Network** is all about logistics infrastructure.

A report by Messari claims that 13+ million devices contribute to DePIN daily - not bad.

# WEB3 SOCIAL

Unlike traditional social media which is all about building closed loop systems for milking data & serving ads - Web3 social is about building open ecosystems.

_from like a user's perspective, like a person that is participating in the decentralized social network. They have a lot more control over their own identity. They have a lot more control over their information environment, their information diet._

_Web2 we've seen tends to result in walled gardens and winner take all dynamics. That's an inherent part of that landscape._

_(...) If Twitter or Facebook changes the algorithm, every user is stuck there. If for example, Web3 social client, if that changes the algorithm, you can just go use another interface to the same protocol. And you have a lot more choice without losing your data._

Both **Farcaster** & **Lens** have interfaces built by random people, where they change the algorithm, or make it look like Instagram, YouTube or Reddit - based on their preferences.

_You're having a social graph on chain. You're able to take your followers and content with you as you move between platform and platform.(...) You're able to actually monetize and make value from the data that you own. You truly own the content you're writing._

_Developers, builders, whenever they choose a platform to build on, to extend,_

_(...)_

_when they choose to build on a platform that is controlled unilaterally by a company that can change it at any time, they're taking on quite a lot of risk. And so they're very unlikely to build or devote a lot of resources towards that._

_In the early days of Web2, there were open APIs for everything. And a lot of what I see is the value of Web3 now with permissionless interoperability. That was real. And there was just an explosion of really interesting activities._

_There's a lot of really cool stuff that developers can build when they can tap into this open permissionless ecosystem and kind of infrastructure around Web3 Social. It's great already, but the promise is really high and I'm excited to see even more progress._

Consider **Farcaster** with mini-apps in the social feed. Then someone built **Intori** for matchmaking. **Bountycaster** for bounties. **Farcade** for playing & making games, **Clanker** for making tokens, **Bankr** for trading tokens. The list goes on & on.

There‘s also the whole tipping culture allowing people to earn by posting which was previously impossible, because traditional payment processors all charge 30 cents minimum.

If you can‘t decide between Farcaster & Lens - you can download **Buttrfly** or **Firefly**, which merge them into a single feed.

# APPLICATIONS
*man, what do you got in this briefcase over here?*
*Crypto cash.*
*What's crypto cash?*
*They're the disposable Ethereum wallet.*

*Well basically you can load it up with ETH or USD and gift it to family and friends super easily. works entirely via a web browser. I tap into my phone here and pending the conference internet, it'll load up in a moment. No app installed.*

*Here's my balance on this card. I can give this to somebody as is and once they receive it, they can go ahead and withdraw the stable coin. So I'll just go ahead and withdraw a dollar to myself.
Again no app. Whenever I need to sign a transaction, I just tap into my phone. It's a real app.*

*easy way to create a wallet in 60 seconds that's hyper secure, where you can then deposit money in over 130 different fiat options for the lowest rate and with Apple Pay, G Pay, all those things. And then you can quickly earn on different vaults that we have, right?*

*we have vaults that give 7% to 15% on USDC via decentralized lending. And in the future, we're going to have on-chain, on-chain RWAs of all sorts. That means private credit vaults, on-chain gold, stable bonds, right? Treasuries, US Treasuries, Mexico Treasuries, basically ways to bring real yield on-chain to users in a very simple, easy to understand way, right? Sign up, deposit, earn.*

Now let‘s get into some apps!

You can use **Meetwith** as a Web3 alternative to Calendly, or **DeForm** as an alternative to TypeForm. You can also use **Fileverse** to replace the whole Google suite of tools with something decentralized & privacy-preserving. And **Huddle01** instead of Zoom, same reasons.

Looking for work? Try **Braintrust**. Want to chill? Try **Vabble** instead of Netflix. Travel? **Dtravel**. You can earn some loyalty points with **Blackbird** or send someone a few beers via **BeerMe**.

**Paragraph** is Web3 Substack with many unique features. Want writers stop giving 70% revenue to Amazon? Buy books on **Alexandria**. Want to build relationships with musicians instead of watching Spotify starve them? **Coop Records** or **sound.xyz**. Podcasts? **pods.media**

More into visual arts? Try **Zora** or Rodeo. **Can**‘t decide? Access both through **Surreal**.
Want personalized summaries? Try **Outposts** or **Daylight**.

Besides direct monetization, onchain media creates permanent records - useful for journalism.

In terms of predicting things, **Polymarket** was so successful they started quoting it in mainstream news, now there‘s also **Truemarkets**.

Then there‘s **Kaito** helping projects reward marketing contributions by measuring impact directly on social media. And **Noise**, which uses data from **Kaito** to allow people to bet on trends.
# COORDINATION

_A DAO at a basic level is essentially a group chat with a bank account. It is something where it allows people to contribute resources. They can be capital, they can be work and labor, and they have the ability to then decide on what they should do with those resources._

_Trying to make a company from seven different places around the world and think about how you can sort of combine forces and put money in a shared pool and make a set of rules and make proposals, that process wasn't possible._

**Safe** provides the simplest way for groups to manage money. There‘s **Hats** for roles. **Coordinape** & **Collabberry** for compensation. **Common Ground** for escaping Discord & **JokeRace** for organizing competitions.

_Nouns is a group where essentially it's an NFT project where there's one NFT that's placed for auction every day forever. And then Nouns holders and Nouns delegates, myself and a number of other people, can vote on how the money should be spent._

_Everybody was saying DAO cannot be efficient, DAO has just agreed or whatever. And I think with Maker we are proving the point that it's not true. If it's well operated and the framework are good. And now in terms of revenue, we are currently at $150 million net profit._

_You have this board who chooses, who gets water.(...) They maintain the payment, like I said, the distribution of it. And so we look at them and we say, it'd be really nice if the Asada knew about DAO House._

_Because there's so many coordination issues. So you show up to a meeting and there's 50 people there and it takes two hours to sign in because everyone has these very archaic ways to identify themselves._

Want to get more serious about building an organization? Look through **Aragon**, **DAOHaus**, **Tally,** **Agora**, **PartyDAO**, **Common** & **Colony**.

Afraid your collaborator might scam you? Set up an escrow contract through **Smart Invoice** & have the dispute arbitrated by **Kleros** decentralized court.

Want to gate community channels or sites? Try **Unlock Protocol**, **Collab.Land** or **Guild.xyz**.

_I expect that we'll see an evolution of DAOs into things where they're not seen as DAOs. That DAOs can become a substrate tool that communities that form for any given reason will be able to use and deploy in the same way we use. Internet tools now without thinking that we have to be experts in the particular underlying code._

_How we can have collective ownership and governance be something that can actually compete with private property and giant corporations essentially._

# DESCI
Scientists spend ~80% of time applying for funding instead of doing actual scientific work? Biggest bottleneck is in the early stages, in the range of $100 to $500k, which is referred to as the "valley of death" in academia.

Big pharma won‘t develop drugs that cannot be easily monetized or trademarked.

_DeSci is a movement to decentralize science, and that means scientific funding, scientific publishing, scientific infrastructure._

_Existing publications system is broken, and currently to be able to call yourself a scientist, you have to have publications in journals._

_But the system is crazy. You have to pay to journal to review your work, and then you have to get peer reviews._

_Scientists can make peer reviews, they are not paid at all. And you transfer the ownership of your article to journals. So basically you pay to journals to publish your article, and then they will charge users for reading your article._

_When you have to pay to publish, you have to pay to read. Your data often gets given to the university. Your IP is often shared or taken by the university. Most of the time, scientists don't really receive much of the funding. They certainly don't receive much of the ownership of their ideas._

_It's already possible for a community of people who are interested in a certain domain of research to self-fund their research and then own this IP._

Pharmaceutical industry tends to overcharge for drugs they have a monopoly on eg. price of Insulin went x12 from 1996 to 2019. Price of an IP protected drug Daraprim was increased >50x from $13.50 to $750 PER PILL.

Patients are less likely to overcharge other patients.

_Traditional scientists get excited because the existing scientific infrastructure gives them no money, gives them no ownership, and no control. And so DSA is the future of doing science._

**VitaDAO** members pooled and voted on deploying over 2,000 ETH to research across 7 different DAOs, with additional 1,000 ETH raised by these new DAOs.

New DAOs are researching psychedelics, hair loss, cryogenics, neuroscience, and quantum biology. Currently developing 5-6 new medicines - with two already on the market, one 2-3x more effective than previous treatment, both 100% owned on Ethereum.

**Bio Protocol** raised $35m & deployed over $15m into biotech. There are also **LunCo** & **MoonDAO** in regards to space missions. **GainForest** is more concerned with the earth - archiving nature‘s data to inform environmental decision making.

ResearchHub is paying $150 per review - you can do it right now.
# REFI

_regenerative finance was one of the first following DeFi. I think it was a bunch of people who saw DeFi and the ability to create tokens, create value, and then use that for public goods, planetary regeneration,_

_or economic sustainability, all these things that bring value to people.

_Impacting the real world using crypto,(...) that's today very focused on carbon credits._

_It has already some liquidity, you know, so basically, and you are solving with this technology a very clear problem, which is double accounting. But we are full of problems on the social and environmental side, not only carbon, no, and there are some projects working on biodiversity credits. In the social side is people doing kind of similar things like us._

_I really love what EthicHub does. It's one of the few dApps in the crypto space that's been around for a long time and has proven impact.(...) They are basically microloans for coffee farmers in Latin America, and they have a real impact on people._

_(...) So in EthicHub, you as a user can support small coffee producers in six countries in Latin to access financing. You can have the low risk, low return, which is 8 percent, not that low._

**Atlantis** eg. ran a pilot using decentralized Web3 networks to improve clean water, create open marine biodiversity analytics. **AquaPurge Project**, **Aquari** & **Enaleia** are focused on ocean cleanups & waste management.

**Silvi** & **Treegens** are about planting trees while **AgroforestDAO** is about regenerative agriculture. **Solar Foundation** & **Windfall Protocol** are about accelerating the transition to solar energy, while **Bloom Network** is about *anything* regenerative.

Nature backed currencies can align economic interests with ecological interests.

**Kokonut DAO**, **Kolektivo**, **BASIN** & **$EARTH** are all about tokenizing natural capital. Then there are **Azos** & **Mento Labs**, using these tokens as backing for issuing stablecoins.

_I'm really excited about AutoPGF, which is basically a way of taking yield from the new financial system and funding parks with it, funding climate work with it, funding(...) public goods with that yield. And so AutoPGF just stands for public goods funding that has been automated._

_Yeah, GLOWDollar is super cool. GLOWDollar is a fiat-backed stablecoin that, like with the yield they earn, they actually use it just to fund public goods._

Can nature itself become autonomous, and self-manage through the use of AI & blockchain tooling for things like collecting donation & dishing out bounties? **Plantoids** is a sign.

For anyone interested in learning more, start by reading **Ecofrontiers** or checking out **Regenatlas**, then join **Regens Unite**, **ReFi DAO**, **Greenpill** & **Bloom Network.

_I like regens._
# REAL WORLD
45-50% or up to 400 million of African adults are not banked, financial systems are fragmented across 54 countries with unstable currencies, cross-border payments cost 8-15% and take forever and some countries limit spending to $20/mo.

_The case of where Africa is at right now, it is we're very fast adopters of new technologies because it's allowing us to skip generations of innovations that the western world has focused on in the last decades._

_In Africa, for example, where from one country to another to send money, it needs to first go through the SWIFT system to a bank in Europe and then back to Africa and lose like 30% of the value._

_In Africa, decentralization is a plan A. It's not a plan B. We have a very large proportion of our populations that are unbanked. A lot of African societies, we have micro cooperatives of people who come together, pull resources together and share that amongst each other to lend or borrow or save._

_So it's a great opportunity to basically lay a technology and a product on top of a social use case that already exists._

_Things like what Grassroots Economics is doing in Kenya, which is(...) what he calls commitment pooling. And so he's developed a platform on Cilo for commitment pooling where any group can create its own economic network. Community currency systems often have a problem with scaling and Web3 can help us change that a lot. But with reputation metrics and with trust lines so people can gauge the relative strength of other people as a participant in trading or in the local economy without us having to know them directly._

**Grassroots Economics** enabled 65,000+ Kenyans to conduct 1.2M+ transactions without cash, using blockchain to formalize mutual aid systems.

_The Kotane Pay is doing microloans. I love them. Parlika is working on microloans as well on the ground in Kenya right now. They basically take trust credit of the communities and try to enable them like microloan payments based on the Web of Trust. Topos Network is doing something similar._

_They were a remittance operation company, bank license with five countries in Africa._

Traditional community savings groups are moving on-chain, connecting multiple pools for greater liquidity and turning social capital into verifiable credit history.

Projects like **MiniPay**, **Onboard**, **Send** and **Honeycoin** are allowing easy ways to transact in stablecoins across borders & within, with no restrictions.

**EA Africa** provided automated weather insurance to 12,000 Kenyan farmers, cutting payout times from 45 days to 24 hours.

_What we're seeing is different layers of financial service stack from wallet infrastructure to liquidity aggregation, both fiat and stablecoins, to very user centric wallets or applications that are basically cash apps but powered by crypto. And the end user doesn't even know they're using crypto to go on and live their lives. Some of the things we keep dreaming about here in the global Ethereum community is actually happening at scale in Africa. And so in order for us not to keep going around in circles,(...) we need to connect the threads at the human layer to actually use research in a meaningful way or research being informed by real use cases that are happening on the ground. And I think that's how we can collaborate, make Ethereum successful and make Africa successful._
# GOVERMENTS & CORPOS
_Big existing organizations, institutional scale organizations, I think we're going to see the innovation here and we're going to learn things that those institutions will incorporate over time. So our job will be to create the evidence that what we've got is better organizational systems, better ways of doing deliberative sensemaking, better ways of getting things done, and then they will have essentially have no choice but to start looking at the technologies that we're building in order to find the efficiencies in their own systems._

_In 2020, we did a quadratic funding experiment worth $50,000 in Boulder, Colorado and were able to fund a yoga studio, a comic book shop, a bookstore and other mainstream businesses.(...) The capital allocation mechanisms that have been invented in crypto are now going mainstream and helping everyday communities fund what matters, not just blockchain communities._

Quadratic voting was also Taiwan and Croatia. AlloIRL can be used for experimenting IRL.
Argentina, Sweden, Ukraine, India, UK, Israel, Singapore, Brazil, Colombia, Spain, Estonia, Switzerland, Thailand, Cameroon & Philippines all piloted various things on Ethereum.

Identity, voting, public spending transparency, tax payer directed spending, land registries, tokenization of government bonds & decision making provenance are some of the areas.

Corpo side:
JPMorgan Chase, Visa, BlackRock, Goldman Sachs, Societe Generale, Santander, Fidelity, Microsoft, Meta, Google Cloud, Amazon Web Services, Salesforce, Disney, Associated Press, Nike, LVMH, Coca-Cola, Honeywell, eBay, Shopify, Starbucks, BMW, Volkswagen

Overall usecases are settlement, tokenization, supply chain provenance, identity, product authenticity, loyalty programs, rights management & maintenance tracking.
# AI X CRYPTO

_We're seeing a lot of activity trying to smash the two particles of blockchains and AI together.(...) And many people are experimenting on that front. The idea of giving agents, AI agents autonomy with blockchain private keys, be able to get them to transact on the internet and being able to have them as being economic agents shoulder to shoulder with humans, I think is something that is inevitable. People are building towards that. Wherever the AI world evolves into,(...) I think AIs will be able to economically have agency via blockchain. And I think that's something that is very interesting._

_(...)_

_Yeah, I think some of the best intersections for AI and crypto are in the context of infrastructure that you need for AI.(...) So for example,(...) creating an AI model or using an AI model requires a tremendous amount of compute._

_(...)_

_And right now it's just Microsoft or these big tech companies that have access to all this computation. But there's a lot of underutilized compute in the world outside of just these big tech companies._

_I believe every DAO will have an agent and that agent will be will broker the collective intelligence within the system. And that will help us break some of these alignment problems within DAOs.(...) The agents will be the voice of the DAO and be able to represent the DAOs needs, wants, desires, all the on-chain information that that will provide.(...) And then people will have the necessary context to be able to join a DAO late on and know everything that's happened up to that point. And I actually think it's crypto systems, which is where the real frontier of AI will be._

**Bankr**, **Nani** & **Wayfinder** are all agents that can help people do whatever they want onchain, through chat interface. **Bankr** even allows people to do things directly through Twitter & Farcaster. Projects like **Harmonica** & **x21.ai** are here to help in regards to DAOs.

TEEs and smart contracts ensure cryptographically verifiable actions. Reality oracles guarantee decisions are based on trusted data. Verified information will allow agents to coordinate without hallucination.

Agents & agentic organizations making promises to each other won‘t be able to cheat, because their agreements will be insured by smart contracts.
# PRIVACY
How come i didn‘t mention privacy?

As much as we owe to cypherpunks, I think Ethereum is more about creation than protection.
That said, privacy is important, and people wishing to preserve privacy will be able to do so thanks to projects like...
Zero knowledge guarantees

In fact, using tom zero knowledge magic, you can now buy crypto from a random person without knowing anything about them, using **ZKP2P**.
# RECAP & CONCLUSION

_If your friend tells you, "Hey, there's this amazing application, you should go and use it." And as soon as you log in to try to use it, you have to download a weird plugin, you have to memorize all these different words, not only memorize them, you have to write them down because if you put them on your computer, you could get scanned, something bad could happen._

_You shouldn't be able to click a phishing link and have anything happen, that's just crazy._

_The trick with VCs is that they never invest in experimental stuff. I think the sad truth of Web3 right now is that it's a little too easy to make money doing very little._

_A meme coin right now is more compliant under the current regulatory regimes than something that's actually useful._

_Don't think that just because you built something that it's going to work one way, doesn't mean that the average end user isn't going to fall off in the first five seconds. And I would say also take all the negative feedback you can get._

_Everything is possible, but if you don't actually think about it properly with some design sense and creativity, it won't work._

_If you want to change the world, it's never just technology, it has to be techno-social. I think Web3 is a new type of community of faith. You all believe in decentralization,_

_(...)_

_and you no longer believe in the state, so you're constructing a new world, rather than trying to kick over the state._

_I really think that there's a lot of potential to be creative and look at what are governments really doing._

_(...)_

_What value are governments providing, and how can we provide that same value, but from a unique perspective and from a different direction.(...) So I see the opportunity to provide public goods with cryptoeconomics as a way to replace governments one public service at a time._

_So you can think of cities as basically a big stack of protocols that are interacting, both physical and digital. Traffic is a protocol, but also how cell phone works in a city is a protocol, which cell phone networks are here. And the idea of holographic cities is something like a pop-up city, like Edge City where we are. You can think of it as a set of virtual protocols that just get added to the physical protocols of a city. And this is what's exciting about Web3 and crypto, right? You can go to a completely standard traditional place, and by adding Web3 technologies on top, you can use it to reprogram physical reality and make a new world from it._

_I kind of agree with Balaji's views of network states as existing to something parallel to nation states. That's going to create more interest for the people without having to fight against a government or talk to a government for them to implement this technology._

_(...)_

_I think we're going to see more of that. We're going to see more capital and more talent and more people flowing into that._

_(...)_

_So that's going to start putting some pressures into countries, actual nation states, to adopt some of those things._

5. **Bitcoin** - How banks make money from debt, keep profits, and socialize losses
6. **Stablecoins** - Critical lifeline in countries with hyperinflation, 99% cheaper global payments
7. **Technofeudalism** - Web2 digital feudal states where users don't own their data or profiles
8. **Enter Ethereum** - Foundation for building composable internet services without middlemen
9. **No more excuses** - All major roadblocks to adoption have been solved
10. **DeFi** - A more efficient and global financial system. Available to anyone, 0/24
11. **Tokenization** - From peach harvests to real estate to government bonds. Big players are in
12. **Capital Flows** - Pooling, directing and programming money with minimal overhead
13. **Bootstrapping Economies** - User-owned protocols as alternatives to extractive platforms
14. **DePIN** - decentralized infrastructure alternatives - from file storage to energy sharing
15. **Coordination** - Enabling global teams to pool resources and make collective decisions.
16. **DeSci** - Transforming scientific funding, publishing, and knowledge access.
17. **Web3 Social** - Open social networks. Own your identity, followers & content.
18. **Onchain Media** - Creator-audience relationships and monetization without extraction
19. **ReFi** - Aligning economic incentives with environmental restoration
20. **Ethereum Localism** - Practical applications solving real problems
21. **Governments & Corpos** - Digital identity, voting, registries & funding allocation
22. **AI x Crypto** - Combining trustless coordination with artificial intelligence
23. **Applications** - Web3 alternatives to classic tools and more
24. **InfoFi** - Information and attention as a financial asset and coordination mechanisms

"Beyond the headlines about scams and celebrity tokens, this documentary uncovers the real revolution happening in crypto. From Bitcoin's challenge to traditional banking to Ethereum's vast ecosystem of applications, we'll explore how this technology is rebuilding the internet's core infrastructure without extractive middlemen. We'll show you how crypto is providing financial lifelines in hyperinflation economies, enabling creator-owned social networks, revolutionizing scientific funding, and aligning economic incentives with environmental restoration. While 99% of crypto may be noise, the remaining 1% is quietly reshaping how we coordinate, transact, and build for a future where networks replace pyramids."

- Suddenly stop mid-explanation and stare intensely at a random tree/rock for 5 seconds before continuing as if nothing happened
- Start whispering conspiracy-style when discussing big financial institutions
- Dramatically put on sunglasses when saying "blockchain" and never explain why
- Bring out a weird unrelated item
- Do something random at the beginning or the end, or mid segment
- Wear progressively more tin foil on your head throughout the documentary (protection from "hackers")
- Dramatically walk into bushes and emerge somewhere else for scene transitions
- Use deliberately bad "teleportation" cuts where you're obviously just jumping to a different position
- End segments by simply falling over sideways out of frame
- Constantly check random objects to see if they're "tokenized" yet by scanning them with your phone
- "Interview" a coconut/rock/tree about their thoughts on DeFi
- Start the segment by coming out of a box
- Start speaking directly into plants when explaining how "the system is listening"
- Randomly produce an increasingly bizarre series of items from your pockets when discussing crypto "utilities"
- Dramatically pause, look at the camera and whisper "they don't want you to know this" at random intervals
- Begin a segment hiding behind a tree, slowly peeking out as you introduce the topic
- Casually produce food items from your shirt pocket and eat them while discussing complex topics
- Start a segment normally, then reveal you've been standing in shallow water the entire time
- Begin a segment already mid-laugh, compose yourself saying "anyway..." and continue normally
- Occasionally address someone named "Craig" who is never shown or explained
- Suddenly produce a banana as a "phone" and take an important call about "the blockchain situation"
- Dramatically throw handfuls of leaves in the air when saying "decentralization"
- Inexplicably begin wearing swimming goggles halfway through an explanation
- Attempt to "climb" invisible stairs when discussing "scaling solutions"
- Start whispering to a tree, caressing it
- Start explaining a concept upside down (handstand against tree) as if it's the most natural position
- End segments by simply lying down wherever you are, as if the topic exhausted you completely
- Talk about reforestation, then the camera turns & reveals youve been talking to a tree

From DeFi, to DePIN, to DAOs - what all of these have in common is that they‘re building networks rather than pyramids.

Whereas previously the value was squeezed out by centralized middlemen, now the power & value are both distributed in the network.

Of course protocols are a form of middlemen too, but they‘re more efficient, transparent, open to build on, and open-source, so anyone can re-deploy them if they become extractive.
## Trust
Crypto gives us trust-minimization tools that enable strangers to collaborate and exchange with certainty that agreements will execute as written.
## Infinite Composability
Lego-like properties let builders freely mix protocols into ever more complex configurations & novel user experiences. Your log-in, identity & assets work across the whole ecosystem.
## Autonomous Economies
Resources flow freely across borders through open protocols rather than institutions, with self-enforcing agreements coordinating exchange. Available to anyone with internet connection.
## Why it hasnt changed the world
By the time you‘re watching this, its possible a bunch of projects mentioned are already dead.
But that‘s ok, 90% of regular startups fail too.

99% of crypto is memecoins & scams.
Of the remaining 1%, 90% will fail.
Remaining 0.1% will reshape the way the world works.
# CRYPTO IS USELESS

_I say you're right, but you're also not right. I mean, most of crypto is probably a scam. So I don't blame people for seeing it that way. But I think it's also the news is the big blowups, not the steady progress of engineering design of novel technologies. It's a bit more boring._

_(...) I know zero people that tried to have a word that deposited on Avi ones that did a trade on Uniswap that used a dye and diagnosis paid card to buy your coffee that actually saying crypto is useless. The capacity globally coordinate work and to finance it. I don't see how that can be a useless thing._

_(...)_

_You think crypto is worthless because you live in Europe or the States or in a country where the financial system works. That's why in Venezuela, Argentina, Zimbabwe, all those countries with super high inflation,_

_(...)_

_crypto is easily understood and has super high levels of adoption on real world people. Even for big international transfers, the traditional financial system doesn't work properly.(...) Inter-American Development Bank invested in us from Washington to a Spanish company. The bank took a fee in a $400,000 transfer,(...) more than 30K. So it's like, okay, you send people in the plane with word rewards to get the money or what happened because it's absolutely nonsense._

_So we need to show people that what we're creating here is actually a technological revolution that could be really important for the world._

_(...)_

_Best solution is just not and say, all right, let's not talk about it then and move on. Because I think one of the mistakes people in crypto used to do in the past is they behaved like cult members on multilevel marketing fraud._

_(...)_

_I think it's a mistake to try and get web free mainstream adoption. You don't want mainstream adoption. What you want is to turn crypto into the mainstream, invite them in, help them learn and become citizens of the crypto world. And then it's up to them what they do in here. It's not a product that you're selling to a mainstream. It's a world you're building and you're inviting people to come live in the world. You're saying this is a very huge, deep way to even think about the future and live in the future. Come experience it. It's like, you know, we're building a new kind of world here. We're not selling crap products._

_(...)_
## B-roll

While some people are busy criticizing crypto, crypto has slowly been permeating every part of the internet, organizations, infrastructure, economies & states.
# CLIFFHANGER

_Really, the value of Ethereum is in its community. There are magical humans here that care about more than just making money. The people who care about building these things for the real value that it can change society with. And I don't really see that energy anywhere else in crypto. And I think that's what makes Ethereum special, and that's why I built here._

While most crypto is focused on hypergambling & hoping institutions buy our bags, there are real problems out there that we could be helping with.

From nature getting rekt in various ways leading to biodiversity loss & ocean pollution, to housing crises, supply chain disruptions, polarization, corrupt institutions, media manipulation, mass migrations & genocide.

Meanwhile AI & robotics are automating jobs. Will that lead to mass unemployment, or re-localization of production and shared ownership? Its up to us.

_I'm not so optimistic on the short term because, you know, we have huge challenges around climate and resource scarcity, and you can see wars are coming back.(...) So it's going to be a very challenging period. I think the important thing is to create seed forms for the future._

_(...)_

_New forms of regenerative, resilient production_

_(...)_

_that are, you know, that kind of like are more safe to go through these kind of chaotic times. And to be strong enough to go through this difficult time and to mount of it as actually the seed of a new civilization. Right. So I think that the new generation of young people, you know, they have an unprecedented opportunity to engineer our world through crypto._
## B-roll
Shot of the dApps box floating

- Videos of real people using Ethereum applications in Costa Rica and various African countries. Farmers accessing loans, communities coordinating resources, local economies thriving.
- Tree roots, mushrooms, ??? nature shots 🚨🚨🚨

Peth leaving on a motoobiek 💋 u rent motooobiek, fro meeee?
# Credits

Blahblahblah

Juicebox donors
QR code