Perfect Price Discovery and Blockchain
Perfect price discovery is a major challenge in economics. The Internet is skewed up. The advertisement business model has become a terrible incentive model for generating revenue for content. The advertisement industry relies on views of the website. Clickbait content whether it is a vulgar joke or rumours or attention-seeking fake news gets more revenue than quality ones. Imagine how much Einstein's paper would get revenue if the business model was through advertisements. Only a few people would have read and could understand it, so Einstein would have not earned more than a few dollars. There are alternative models like blockchain where a developer can decide what they want to incentivize. (e.g. Quality content or echo chambers that reinforce their existing views due to confirmation biases) One night after thinking till 1 am, I got a simple equation. Take for example you want to incentivize a quality essay. Bounty for writing an essay is 1 token: Price now for 1 token is