GENIUS gave us stablecoins. CLARITY gives us market structure.
Together they are the foundation for the next decade of onchain finance.
I share my thoughts of the 309 pages and why this is the architecture institutional crypto has been waiting on.
Genius in its design
Keep the UX super clean
Execute the routes seamlessly
Keep bridging TX's for a few pennies
Simplicity celebrated as the ultimate form of sophistication
Ladies, gentlemen, aliens, I give you
The Genius act unlocked stablecoins and payments.
CLARITY could unlock the rest of capital markets and financial services.
It’s time to pass legislation.
Bill Gross was a genius out of Caltech.
When we met Bill, he explained how he was going to create the search tool for commerce. We were so impressed with his idea that we agreed to fund him.
The idea was a search engine called GoTo with bidded listings.
Bill changed the face of internet advertising forever.
The genius was that advertisers would pay for search terms. GoTo would charge different prices for different terms based on demand.
This was the beginning of paid search. Before Bill, no search engine had any profitable business model.
This innovation became instrumental to the success of Google, Bing, Baidu, Yandex, and all the other paid search engines. GoTo later rebranded as Overture and acquired other search engines.
In 2003, Yahoo bought Overture for $1.6 billion.
The worldwide paid search industry is now estimated to be over $300 billion.
Paid search is common sense now.
Back then, it was a stroke of genius from Bill.
Legislation like the "Stablecoin Genius Act" (and Clarity Act) has unleashed significant adoption by making traditional enterprises comfortable with the technology.
Tune into my conversation with @davidlin_TV.
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