【Wired】Public Blockchains Are the New National Economies of the Metaverse

in #blockchain2 years ago (edited)

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【Wired】Public Blockchains Are the New National Economies of the Metaverse
Screenshot_20220211-212056_Internet.jpg

Thanks to the untrustworthy and programmable nature of public blockchains, new "fiscal" and "monetary" policy tools in the blockchain economy are now possible.

The Layer 1 public blockchain ecosystem is beginning to look more and more like a national economy, with on-chain activity growing at warp speed. In this case, however, the nation is not a physical realm, but a decentralized digital network.

In addition, second-generation public blockchains are introducing a de facto "universal entitlement capital income" for network "citizens" using the proof-of-ownership mechanism they employ.

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