Are the NFT and DeFi markets recreating traditional human hierarchies through new social capital?

The Distribution of Social Capital

A lot of the language in fintech and Ethereum has been about democratization, and helping people have better financial services. Some of that is well meaning and true. And yet the reality is often different. We continue to create outcomes with high Gini coefficients that accrue the most value up a power pyramid. Someone will be first to lay the railroads, deploy a blockchain, or buy up the valuable NFTs.

The frontiers of new economies and NFT markets

We’ve worked in fintech and finance for a while. And one learning is to listen more closely to what people are talking about, and where they are talking about it. Very few people were discussing the ins-and-outs of investment banking economics and deal making on Internet forums; rather most of that discussion and information stayed behind closed doors. Access to this is what made working at an investment bank valuable.

The Gatekeepers at play

We started this discussion with Jumio, Feedzai, and Chainalysis.

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Lex Sokolin

Lex Sokolin

Entrepreneur building next-gen financial services @Consensys @Autonofintech @Advisorengine, JD/MBA @columbia_biz, editor and artist @inkbrick