One of the most difficult things to understand about the cryptoeconomy is that it has a potential to cause an irreversible change in the economy itself: it has the power to turn the economy and its key conventions in themselves into a place of creation. Yet if you look at what is mostly going on in cryptoeconomics and decentralized finance you’ll immediately recognize the implicit embrace of the conservative economics orthodoxy of what is money, what are markets, what is credit used for, what's accepted as collateral and what incentives give the best social outcomes. We think it is this orthodoxy that is blocking the real potentiality of the emerging distributed computational substrate. That is why we have been especially focusing on re-thinking the economic component of cryptoeconomics: what exactly becomes economically and politically possible when our economic-organizational composition becomes bounded only by our creativity (when it becomes a software design question)? We want to unlock the potentiality of distributed computation by a new understanding of economy as a programmable network: a group of Agents interacting according to a shared understanding about the relations that make the network, its state and how it changes - opening its interaction protocols as a design and expression space for everyone. If you ask what is that new thing that the native properties of the emerging p2p networking technologies are making possible, our answer is: postcapitalist economic media. It is a more expressive medium to describe our economic networks, their participants, the nature of their relations and how they change, what they value, how it is counted and exchanged.

Last updated