Dismissing crypto because it's "all just ponzis" is a counterintuitively strong litmus test for 2d thinking & historical illiteracy. Ponzis often precede most major tech shifts, made up to bootstrap a valuable foundational technology by paying people to care early.

Programmable intelligence requires Programmable institutions. Human intelligence required the right human institutions to flourish: money, finance, property rights, civil and criminal law, contracts and companies, democracy. Intelligence will not flourish without the right institutions. This explains why simply applying free markets to developing countries gives you nothing without the right institutions. Under a command-and-control surveillance state, intelligence does not flourish. Instead of building the right programmable institutions, trying to chain AGI via surveillance state is not the right outcome. Building the right programmable institutions to create the right checks and balances for AGI is the right approach. Crypto provides a framework for building programmable institutions: we started with money, then finance (DeFi). For instance, a smart contract is a program that can own property: the Eigenlayer program owns 15B$ in property that is assigned purely based on the conditions of the program. Right now, crypto doesn’t have the programmability to build agents onchain. We are fixing this and enabling Ai agents to own property, take liability, create companies and bind themselves to commitments that are enforced automatically. Open-ended programmable intelligence + Self-enforcing programmable institutions = Human-AI symbiosis

It took fintechs/insti's ~10yrs to come around to stablecoins. Cryptonative private credit will land far faster (~2yrs) once everyones realizes that stables also mean cheap cross-border cost of capital & near zero securitization costs/liquidity premiums. Floodgates are open.

Cybernetic economy is a continuous, real-time optimization of resource allocation, done by a distributed planetary-scale computer discovering economic equilibria

Why We Built Blockchain Bureau Lending Protocols now secure billions in value — but one key pillar of modern finance is still missing: credit intelligence that works in a decentralized world. For more than two decades, I worked in credit risk, analytics, and data science — including years at Credit Bureaus and building models used by banks, lenders and insurance houses. I’ve seen how robust credit systems drive economic growth and job creation. With DeFi markets' CAGR currently at 200%+, one thing became obvious: the tools for understanding on-chain creditworthiness simply didn’t exist — or worse, relied on limited heuristics that wouldn’t pass even basic institutional standards. - Over-collateralization dominates DeFi lending. - Reputation-based models are opaque. - Cross-chain, verified credit risk insights are almost non-existent. That’s why we built Blockchain Bureau: to provide transparent, objective, cross-chain credit scores and risk intelligence — designed for the blockchain economy. We combine: * Historical Credit Payment Performance * Cross-chain transactional data * Illicit Activity * Bespoke Cross-chain Aggregate Variables * Advanced risk modeling techniques proven in traditional finance Our mission is simple: be the credit bureau layer for blockchain — (i) driving new financial products onchain, (ii) provide the guardrails proven in traditional finance, and (iii) enabling responsible risk-based innovation across DeFi and Web3. If you’re building in this space, or exploring how to bring risk-based credit to blockchain networks — let’s talk.

last year on a panel in June 2024, I did a prediction that AgentFi will be a thing. Where autonomous agents become productive and tokenised. (Became a thing in Q4 2024) Today’s panel prediction: 1. A year from now, Autonomous Business Tokens will be a thing. Tokenising the economic output of a group of specialised agents. 2. 4 years from now, agentic controlled wallets will outnumber humans. @ASvanevik @benbybit are my witness ;)

PB&J Ep. 5 - ft. @_yakovsky | @3janexyz

AI Agents dramatically expand software TAMs because you’ll have endless use cases for AI that you never had previously. There’s no universe where every day you could give out PhD level work to someone and wake up with it all done. AI Agents will do that for anything.

Yes I have abandoned Ethereum despite supporting it in the past.

Are there examples of DePin protocols using distributed ledgers for a core purpose other than bootstrapping high CAC/opex with a shitcoin? It's like if DoorDash replaced their credits subsidized by equity capital with $DASH and called it DePin.