What role would existing cities play in future network states?
@PatrickWStanley sahred his thesis that “cities should be nodes in a network state” in yesterday’s CityCoins town hall.
Here are his 3 reasons:
1) Building a new city is 100 to 1,000 x harder than building a startup.
It is easier to transform a city into a Bitcoin-friendly place run by a DAO than it is to start a city from scratch.
2) Existing cities have strong brands that are worth claiming.
For example: You don’t have to live in New York to support the yankees.
3) Cities already have a high concentration of citizens.
Organizing a critical mass is easy because cities already have one! A city is a collection of customers.
To conclude: Transforming existing cities into crypto-enabled protocols is an efficient way to create nodes in the network state.