【Wired】Public Blockchains Are the New National Economies of the Metaverse

【Wired】Public Blockchains Are the New National Economies of the Metaverse

Thanks to the untrustworthy and programmable nature of public blockchains, new "fiscal" and "monetary" policy tools in the blockchain economy are now possible.

The Layer 1 public blockchain ecosystem is beginning to look more and more like a national economy, with on-chain activity growing at warp speed. In this case, however, the nation is not a physical realm, but a decentralized digital network.

In addition, second-generation public blockchains are introducing a de facto "universal entitlement capital income" for network "citizens" using the proof-of-ownership mechanism they employ.