If you grew up in the 90s and, like me, spent nearly every waking, non-school-related hour in front of the television, then you know that the truth used to come out of a single, controlled, regularly scheduled source. Then the internet spread that authority out. Anyone could say anything. And you could listen to “Chop Suey” anytime you wanted, for free.

Blockchains exist because Bitcoin solved the Byzantine General’s Problem. The thought experiment is this: imagine a city under attack by four generals. If all the generals attack at the same time, they are guaranteed to win and capture the city. If they attack at different times, they lose. They can send each other messages, but one of the generals is a traitor. There is no way to tell whether a message is legitimate and from one of the honest generals, or if the message is, in fact, a trick from the enemy.

Coins and tokens tend to get all the attention. Everyone wants more money and the modern world is all about incentives. But permissions are more primal. The social order of animals depends on who is allowed to do what. There is permission by force: top ape makes young ape eat last so young ape beats top ape and eats first. There are soft permissions set by example: Rick Rubin likes pro-wrestling so it’s okay for me to like it too.

Feudal Japan had a class system based on a simple hierarchy. There were four classes: warriors called samurai at the top and merchants at the bottom. In the middle were farmers and artisans (craftsmen).

NFTs are objects that last forever in the Ethereum universe. It’s easier and more fun to think of Ethereum like the Marvel Cinematic Universe. The difference is Ethereum lives on the internet, involves real money, and in this universe, no one controls the story.

Sam Altman, the guy behind the company behind ChatGPT, also helped start a project called Worldcoin. The purpose of Worldcoin is to support Universal Basic Income (UBI), which is the concept of giving money to all people on a regular basis. Maybe it’s obvious A.I. will replace most jobs and without jobs, even soul-crushing bullshit ones, there would be chaos. Or maybe, even though some people would work less, they would also have a better chance to practice that, much promised pursuit of happiness in healthier and more productive ways.

Every system is a machine. A set of rules and moving parts meant to serve its users. But there are times when the machines we use become hopelessly outdated and ineffective. The economy, the financial system, these are machines – tools – meant to circulate money around and allow people to live richer lives. But if the machine keeps pushing all the money to the top or if it breaks like it did in 1929 or 2008 or whatever year the next major malfunction occurs, then we should have a backup plan. Repairs and upgrades may not be enough. A new machine will be needed.

Most people get into crypto for the money. Either to get rich, or as a protest.

There is a giant clock inside a mountain in Texas called the Clock of the Long Now. The clock was built to be as sturdy as possible using physical elements– stone and steel – to guarantee its longevity. It is meant to keep time for 10,000 years and designed to function with as little human intervention as possible.