While I do love the application of crypto on the tragedy of the commons, I actually think we have the infrastructure to do this without it. Starbucks knows how many coffees you buy and can reimburse you. Even more, our banks and credit cards do this all the time with targeted offers on better interest rates and cash back with credit card points. I think the question is less can we do it and more if we should do it. And for that, it'll take a lot more convincing...
Great point. I think crypto solves this problem. When the onus to give rewards is on the individual corporation (Starbucks, Mastercard, etc.) it's much more likely to not happen. When the obligation is industry wide, the liability is spread out. This is the tragedy of the commons.
Great read and even better you got a free coffee!
While I do love the application of crypto on the tragedy of the commons, I actually think we have the infrastructure to do this without it. Starbucks knows how many coffees you buy and can reimburse you. Even more, our banks and credit cards do this all the time with targeted offers on better interest rates and cash back with credit card points. I think the question is less can we do it and more if we should do it. And for that, it'll take a lot more convincing...
Great point. I think crypto solves this problem. When the onus to give rewards is on the individual corporation (Starbucks, Mastercard, etc.) it's much more likely to not happen. When the obligation is industry wide, the liability is spread out. This is the tragedy of the commons.
How would crypto drive this obligation though? Like even now, though imperfect, Visa/Mastercard/Amex all have a ledger of what you're talking about?