Blockchains are a new settlement and ownership layer, one that’s programmable, open, and global by default, unlocking new forms of entrepreneurship, creativity, and infrastructure. Growth in monthly active crypto addresses is generally tracking the
The economics of the internet are already changing. As the open web collapses into a prompt bar, we have to wonder: Will AI lead to an open internet or a maze of new paywalls? And who will control it — big centralized companies or broad communities
How does crypto fit into a broader analytic and economic framework?
According to noted economists (and authors of the highly influential economics blog Marginal Revolution) Tyler Cowen and Alex Tabarrok, crypto is one of the economics ideas that has been discussed the most over the past decade… yet is still not a common topic in principles of economics classes.
So in this new chapter of their popular textbookModern Principles of Economics, the economists examine crypto through the lens of economic reasoning, and explain smart contracts, bitcoin, DeFi, NFTs, and the possible “tokenization of everything”. Cryptoeconomics not only combines cryptography and economics to produce new methods of communication, cooperation, and organization – but, the authors argue, “we might say that cryptoeconomics brings the invisible hand to computation”.