The Fidelity Ethereum report, "Blockchains As Emerging Economies", is an earnest attempt by an established financial institution to understand Ethereum as a national economy. This is the proper frame, however tempting or narrowly useful the corporate metaphors are. ↴

Here's the report, 13 pages, a straight forward addition to your reading diet. Below are some excerpts worth highlighting.

Fidelity refuted of a common critique against crypto as currency. Also useful to note that using crypto as currency is a technical integration problem with solutions that are well funded and underway. See @ready_co as an example.

Fidelity accented the value in having a diversified economy. A diversified economy is an economy which is resistant to industry specific shocks. The Resource Curse is an example of this risk in national economies.

Fidelity acknowledged the accessibility crypto provides to its economy. Implicit in this acknowledgement is the friction banking systems have in providing access, capital controls being just one of them.

Finally, a quote I found interesting: "Digital currencies (or cryptocurrencies) exist to govern the digital commons, whereas fiat currencies exist to govern the physical commons." Cyber space as a distinct realm is being acknowledged and taken seriously. Onward!