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Equity is the new land.
Shareholder is the new landowner.
Society has had multiple stores of value, as none is perfectly secure. Gold, oil, dollars, real estate, (some) bonds & equities. Crypto is the first that’s decentralized *and* digital.
Investors may prefer tokens over equity - tokens give direct ownership of revenue, equity may be profits trapped inside corporate structure.
Good tokens coordinate distributed actors to provide and allocate scarce network resources. The rest are just equity by another name.
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