cognitive ability boundary determines the efficiency of information utilization, and the structure or system determines the efficiency of information dissemination. Therefore, to determine whether a community of blockchains has value, the dimension of information is the first criterion.
We see that the assumption of information in neoclassical economics is that market information is completely symmetric and transparent, and in fact this assumption does not hold. Information is not only asymmetric, but the value of information is also inconsistent for each individual.
We see the information formed by the network, the value and price of the information has a very interesting internal relationship:
First, the production cost of valuable information is actually very high, but the cost of transmission is Very low.
Second, the pricing of information should depend on the value of the information, not the cost of the information. This is the basic starting point for us to understand the business model of Internet commerce or blockchain. Therefore, judging the value of blockchain network by the value of information flowing in the network is the most basic starting point.
Think from the perspective of network value.
We know that blockchain technology is a revolution and upgrade of the basic Internet protocol, and the study of network economics is indispensable.
In fact, if we look at the broader social network, Asimoglu, who won the Nobel Prize in Economics in 2005, is a master of "social network science."
We study blockchain economics. From the perspective of the network, we must study individuals within the group (community) to understand the impact of the network structure on individual behavior rather than isolate individual individuals. Come. Therefore, the value of the blockchain technology needs to be studied on the network. More precisely, it is the study of the effectiveness of quantitative heterogeneity in network economics. Since the research of network economics is based on the study of the endogenous complexity of the network economy, we see that the pursuit of utility in traditional economics is inconsistent, but to study the utility of complexity (heterogeneous utility). To put it simply, the utility in traditional economics is for the result of choice, while the heterogeneous utility is for the process. For each individual in the network, the concept of utility is for non-personalized needs, while heterogeneous utility is for personalized needs.
Therefore, whether the blockchain network can provide sufficient satisfactory effect for each individual's individual needs is an important basis for measuring the value of the blockchain.