We believe crypto has been incredibly successful at providing a trustless financial layer for the 21st century. In particular it has found product market fit in two main areas:
- In developing countries providing aids and tools to individuals that need to fight against inflation, censorship and for companies and individuals to be able to business.
- Internet native communities that need a financial layer in the web that allows them to express and coordinate at a scale that wasn’t possible before. They have created new financial assets and markets that seem absurd from outside. Many times they are also absurd from the inside.
People that don’t live in a developing country or that didn’t grow up with the internet have enormous difficulties understanding crypto because they don’t have skin in its game. They believe crypto doesn’t have any “real” use case or that is not serious enough. They are right. The thing is that we are living in a world that’s is becoming more absurd. Memes do not only make you laugh anymore, memes are now winning elections.
We’re sure that these two use cases will grow with time and probably new ones will be found. The world is becoming more chaotic and more divided each day. The stability that existed since the fall of the Soviet Union and the beginning of the pandemic appears to have become a thing of the past. Only change will become the norm. And we love it.
This will make crypto even bigger. One of its prime advantages is that it kills many of the middlemen and allow us to coordinate even in the harshest environments. Trust assumptions are lowered thanks to economic incentives, compilers, distributed systems and cryptography. Crypto lowers the reliance on human beings. This empowers humans. It allows them to concentrate their disputes and efforts in subjectives areas. Crypto creates safe zones where some parts of the human activity becomes non-debatable (until quantum computers solve the discrete log problem).
Most of us are internet natives. We have been using irc, 4chan, reddit, hacker news, twitter, Bitcoin and Ethereum since their beginning and our organization has deep roots in unstable countries. In our roots we have a strange mix of knowing what it is to live in very chaotic societies and how to develop businesses within them and at the same time we are builders that love working in the frontier of engineering and scientific developments. We are the Fremen of crypto, raised in a harsh environment.
Open source and decentralization are not only philosophical ideas but necessary practical conditions to build crypto. Building in the open, helping onboard others and creating movements bigger than the original project are crucial for crypto projects to succeed long term. Sometimes it’s difficult for us to explain our actions to others that don’t follow the same ethos since we are not maximizing the same outcomes.
Our main objective is to help these new internet highways to be built in sustainable ways. Economic sustainability is one key aspect but there are others. We are a force that builds large technological projects but that also counterweights the natural tendency to centralize as a side effect of optimization. Centralization is easier and cheaper in the short run. If we would want to optimize money, there are easier ways to do it. The thing is that is not our main objective. We only see money as a tool to achieve our objectives.
With or without money you will find us building. You are invited to join us in our journey.
“Top-down management leveraging command-and-control hierarchies are for the mahogany boardrooms of yesteryear. We are navigators, adventurers, and explorers of the future. We are married to the sea” - Yearn's Blue Pill