Eight Institutions for the Evolution of Decentralization
Craig Calcaterra, Wulf A. Kaal · 2021
Chapter ) discusses the core problems Web4 companies need to solve in order to achieve progress for the decentralized economy. The electrical revolution took more than a century to come to fruition, because of the need to develop uniform standards for production, transmission, storage, and utilization. Similarly, the Web4 vision of up- grading the entire global economy requires core infrastructure products to be created simultaneously, and be integrated with each other. The book can be accessed here: https://www.amazon.com/Decentralization-Technologies-Organizational-Societal-Struc- ture/dp/3110673924/ and here: https://www.degruyter.com/view/title/569051 Chapter 9. Eight institutions Before the vision of a radically decentralized economy can be achieved, engineers and architects need to solve eight big problems that business solved centuries ago. All eight problems need to be solved simultaneously, and the solutions need to be inte- grated with each other. This is similar to the electrical revolution that took more than a century to come to fruition, because of the need to develop uniform standards for production, trans- mission, storage, and utilization. But in the FGGHs the electrification of cities made the revolution seem to miraculously appear from nowhere. The Web4 vision of revolu- tionizing the entire global economy makes the electrical revolution seem trivial. Electronic copy available at: https://ssrn.com/abstract=3782205
Cite: Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205. https://doi.org/10.2139/ssrn.3782205
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