There are two parts to The Obvious Series:
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Simple explanations for newer entrants
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Abstract wtf are we doing here reflections
Wallets
A real life item bag for your own MMORPG experience on the internet.
The Simple
A crypto wallet is much more than its traditional namesake. It is better to think of it as a repository or digital backpack.
It serves as:
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your bank account
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hard drive for minted & collected files
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portfolio if you decide to mint your work
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storefront as a creator, author, podcaster, musician, etc
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access card to crypto utilities (DEXs, DeFi, NFT brands, Protocols, DAOs, etc)
The Abstract
In a world of increasing connectivity, it is imperative that we lessen lag time. Though it would be nice to assume that humans become more patient with the advent of efficient technologies… it’s quite a naive assumption.
We adapt; that’s what makes us human. More efficient tech means more efficient humans. And the crypto wallet… well it’s an order of magnitude more efficient than its offchain counterpart.
A personal space that can hold all your digital valuables, and it weighs less than an atom. A bank account, a hard drive, portfolio, storefront, access card, message terminal, and point of public record - the crypto wallet is an affront to the traditional wealth generator know as The Middleman.
In the physical realm the middleman is a needed, and valuable, economic role. To enjoy a hotdog at Fenway Park we need many intermediaries. But for you to make a personal finance decision, buy a digital item, sell your work, or access crypto utilities?
How long does it take to wire 10k at Bank of America? How much do you have to pay monthly to sell courses on Shopify? Are you allowed to invest in early start ups or market make on Wall Street?
Some of these offchain constraints are bugs, but many are features. The crypto wallet brings a revolutionary sense of clarity to traditional systems of coordination. It is a step toward a more sovereign economy. One where, if able, we deal directly with each other.