Thinks 544

Marc Andreessen: “There are three sort of big-use cases of cryptocurrency on top of Bitcoin that are really starting to become real and are starting to see a lot of activity. So, just quite quickly, one of those is so called DeFi, Distributed Finance. And, some of those capabilities are starting to get quite large. Second is there’s this whole wave of what are called NFTs or Non-Fungible Tokens. Unique digital assets. And, that wave also has gotten quite large and there’s quite a lot going on. And, then there’s a third category, which is gaming. The entire video game industry looks like it’s going to get upended by this new model. And, then by extension, more and more of the media industry. And, we’re very active in these sectors. A very large percentage of the very smart people working on games–virtual worlds, metaverse, all these new areas of entertainment and experience–they’re using this technology as a foundation.”

Atanu Dey, in his series on Democracy: “James Buchanan distinguished between the constitutional stage in which the choice is between sets of rules (which is what a constitution is), and the in-period rules made by those people chosen by the chosen constitutional rules. We have to keep that distinction in mind, and understand what it logically implies: that in the stage that we are choosing between rules — A, B, C, D, E in the above example — we have to necessarily have unanimous consent. That is, all of us have to agree to the procedure for arriving at the in-period rules of the game. We can only be morally obliged to follow some rule only if we have all consented freely to be bound by that rule. It is morally impermissible to impose rules on people that they have not freely chosen to abide by. Once we have freely chosen the rule that would determine which restaurant we’d all go to, only then we are morally obliged to abide by the decision arrived at by that rule. If I never agreed to the rule, for example, that the majority decision is a good rule for us to decide on the restaurant, then I cannot be morally bound to go to the restaurant that the majority voted on. But if I had consented to the rule that “majority decides”, then when the majority decides, I am obligated to obey because I freely consented to obey the majority decision.”

Read: With a Mind to Kill, by Anthony Horowitz. (A James Bond thriller set in the 1960s.)

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Rajesh Jain

An Entrepreneur based in Mumbai, India.