Bankless 34 - The Internet Cooperative | Jesse Walden
Oct 12, 2020
Jesse Walden, a crypto investor and founder of Variant, delves into the 'ownership economy', advocating for a system where producers receive fair value. He explores how Ethereum and DeFi can revolutionize digital platforms, offering alternatives to profit-driven giants like Facebook and YouTube. Walden shares three adoption theories for crypto, with a focus on community ownership through decentralized finance. He envisions a future where cooperative models redefine user engagement, ensuring a broader reach and greater participation across digital landscapes.
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Tokenized Incentives
- Crypto tokens enable broader participation in value creation and distribution.
- This expands the talent pool beyond traditional employees to anyone with an internet connection.
Cooperative Examples
- REI and Land O'Lakes are examples of successful multi-billion dollar cooperatives.
- Cooperatives maximize member benefits, unlike shareholder-owned businesses.
Internet Jurisdiction
- Traditional organizations rely on legal jurisdictions, while crypto networks operate on the internet.
- Bitcoin and Ethereum are early examples of internet-native cooperatives.