History of Cryptocurrencies

Lessons Learned

David Stancel

Building the Chain of Blocks

Centralization is the bottleneck

Decentralization is on a scale

Cypherpunks  vs   EFF

“I saw them as angry young men in leather jackets, without children and with too much testosterone.”

- Phil Zimmermann

Ralph Merkle

Martin Hellman

Whitefield Diffie

No Revolution, but Evolution

Narratives change

Case study: MakerDAO

• DAI was novel and innovative
   
• MKR team defined many standards in DeFi
   
• Now innovations come from other projects
   
• Once a king, now not anymore
   
• DAI= 400k holders / USDC=1,3M / USDT= 3,6M
  • Protocol revenue of 32M annualy,
  • 1,5% of MCAP,
  • P/E =64

Overton window shifts

what is today heretic an idea once won't be

Social  > Tech

Consensus

Crypto tribes are different

Thank you!

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