Innovation is messy. It is not efficient. Innovation requires experimentation and failure. It is not linear. It cannot be controlled.
Innovation requires freedom.
Decentralized systems allow for more freedom and innovation than centralized institutions in the same way that capitalism allows for more innovation than a centrally planned economy. Freedom to tinker and try new ideas creates space for permissionless innovation.
The current financial system is not designed to support permissionless innovation. It is a closed, centrally planned system with many barriers to entry, governed by outdated and byzantine rules and ideas.
The opportunity cost of the legacy financial system is the stifling of innovation. Blockchain technology will reshape the global financial system in a profound way. The decentralization of our institutions will pave the way for innovation that will unlock untold amounts of value.
Multicoin Capital’s mission is to accelerate the transition from the centralized institutions of the Industrial Age to the decentralized institutions of the Internet Age.
By accelerating the transition from permissioned to permissionless financial systems, we aim to accelerate humanity’s ability to achieve its full potential.