Crypto has a wealth centralization problem. According to Jackson Palmer’s Are We Decentralized Yet? , 19% of Bitcoin’s supply and 35% of Ethereum’s supply is held by each coin’s respective top 100 accounts. Worse yet, 97% of Ripple’s supply is held by its top 100 accounts!
While there are some legitimate reasons as to why today’s cryptocurrencies have concentrated supplies, that doesn’t mean that coins in the future should follow the same path. I believe that cryptocurrencies ought to push the limits of egalitarianism and that the long-term winners will have supplies that test the limits of extreme distribution.
Naval Ravikant nails the vision here:
First round of coin airdrops went to devs and miners. Second round to investors and BTC / ETH holders. Third round will try to reach every human on the planet.January 24, 2018
You would need a way to identify every person on the planet
Not everyone has access to the internet or even a cell phone
You would need to guard against multiple types of fraud
You would need to protect everyone’s identity
…the list goes on
Reaching every human on the planet may be impossible to do elegantly. It will probably require software, but it will probably also require blood, sweat, tears, and boots on the ground. And, just like Bitcoin, it will need a near-perfect incentive structure to get everyone in the world to participate.
But it’s a problem worth solving, so I propose we get the discussion started:
The best interview question in crypto is
> Can you walk me through how you would design an airdrop so that every person in the world received your coin?