In the past, business was mostly decentralized. Until about 200 years ago, all companies were sole proprietorships. Corporations were invented as a mechanism to raise funds for the construction of railroads in America. And in order to sell this innovative concept, management controls were transferred from executives to investors. Initially, this consolidated capital and gave a powerful impetus to growth, but over time it centralized much of the financial resources and power.
Bitcoin is a way to check out of this system and is a valid alternative to fiat money.
The decentralization of money should lead to the decentralization of business and the return to proprietorships and personal sovereignty. We need to build tools for this.
It is fun to talk about these concepts. But the problem is much more mundane.
Without SMTs and automated trading tools (DeFi), communities on Hive have a limited future. This was supposed to be a powerful but productive HIVE sink. We are four years behind on this.
The DeFi concept was part of Steem's original white paper (Automatic Market Maker), instead multiple other blockchains launched DeFi tools and passed Hive in a big way. We need native decentralized tokens now.
Without a doubt. This is the exciting part of the future.
Fortunately @dlux should have something out by February that will allow for this to take place.
Posted Using LeoFinance Beta
If HIVE is stored on a 2nd layer, it cannot be used for Resource Credits on the 1st layer. This means that users must have both HP and the token to be able to use the app. This is too complicated for new users.
If DeFi were implemented on the base layer with SMTs as per original design, this would allow apps and communities to work with just their token, because HIVE stored on the 1st layer can be accounted proportionally to their holdings of the app token for calculation of RCs.
Agree on the need for SMTs.