AdaptiveAlph
AdaptiveAlph 1 minutes reading from Bitcoin

Longread: temporal discounting, game theory, and Cryptotechnologies

Even if mankind’s ability to balance today and the future is far from perfect, the realization of imperfect temporal discounting iterated over many generations has allowed humanity to create systems

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that incentivize people to choose actions that hopefully generates long-term stability both for themselves and society.

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Examples of systems derived from temporal discounting include farming, education, democracy, law, currency and internet. All of these stabilizing mechanisms have increased the power of centralized institutions and are great if they are led by good people, but...

history has shown that concentrated power is really terrible when controlled by bad people. The next system that will drive humanity forward must help to incentivize centralized institutions to act in society’s best interest

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and I believe that system is blockchain technology, which through combining economic incentives, game theory and cryptography creates an immutable framework for generating trust in society.

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This post is based on this twitter thread.

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