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      "kind": "paragraph",
      "text": "Core developers build and maintain the open source software that facilitates the service, while cryptoeconomic incentives, if done right, incentivize independent third parties to deploy and scale the infrastructure. It also attracts an army of users, developers and entrepreneurs who are motivated to grow the network by promoting it to their friends, contributing code, and starting companies “on top” which make use of the underlying protocol: they all share an interest in the network, and collaborate directly and indirectly to make it a success. It’s a high-leverage business model which provides the potential to reach unprecedented levels of scale at near-zero capex for the innovators.",
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      "text": "The first thing to note is that the entire technology stack is open source: the hardware, the software, the network and, now, the data. In order for independent, anonymous nodes to collaborate effectively on providing a consistent service, they must necessarily share the data among themselves. And in order to create a large scale decentralized service, the protocol must allow anyone who downloads the software to become a node and get a copy of the database. It becomes impossible for any single party to monopolize the data, breaking data monopolies as a result.",
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      "text": "We’ve also realized how inefficient the joint-stock equity industry model is at accounting for and distributing the real value created by online networks. The value of a share of stock is necessarily a function of profits; the price of Twitter’s stock only reflects Twitter Inc’s ability to monetize the data – and not the actual worth of the service. Tokens solve this inefficiency by deriving financial value directly from user demand as opposed to “taxing” by extracting profits.",
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      "text": "This innovation is like transistors, microprocessors, linux and the web in that it collapses the production costs of technology by using open source alternatives. In this case, crypto collapses the cost of building and scaling information networks by replacing centralized coordination with universal financial incentives.",
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