Chapter
The Importance of Legitimacy in Cryptocurrency Platforms
1:25:08 - 1:34:51 (09:43)
Cryptocurrencies are based on agreements among the participants in the platform that govern their interactions with each other. Legitimacy, or the perceived authority of those governing agreements, is crucial to prevent disputes that could lead to the collapse of the platform.
Clips
Cryptocurrencies are based on an agreement between the participants about how they are going to operate, how power is going to be distributed, how conflicts are going to be settled, and how decisions are going to be made.
1:25:08 - 1:30:36 (05:28)
Summary
Cryptocurrencies are based on an agreement between the participants about how they are going to operate, how power is going to be distributed, how conflicts are going to be settled, and how decisions are going to be made. Legitimacy is a key factor in ensuring that the platform is functioning properly and disputes can lead to the creation of alternate platforms or confrontations amongst participants.
ChapterThe Importance of Legitimacy in Cryptocurrency Platforms
Episode#540: Harvard Polymath Noah Feldman — Deep Focus for Hyper-Productivity, Learning 10+ Languages, Predicting the Future with History, the Possibilities (and Limitations) of DAOs, Lessons from the Iraq Invasion, Designing the Supreme Court of Facebook, the Virtue of Scholarship, and the Wild Life of Oliver Wendell Holmes, Jr.
PodcastThe Tim Ferriss Show
By observing how crises and challenges played out in the past, we can determine if changes in our current arrangements can help to fix these problems or if they will inherit those challenges.
1:30:36 - 1:34:51 (04:14)
Summary
By observing how crises and challenges played out in the past, we can determine if changes in our current arrangements can help to fix these problems or if they will inherit those challenges. The example of Airbnb facing challenges around racial discrimination due to inheriting issues from the hotel industry is given as a demonstration.