The similarity is that Bitcoin is a transportation infrastructure that is decentralized, efficient and based on an open protocol. Instead of transferring packets of data over a dynamic network in contrast to the circuits and leased lines that preceded the Internet, Bitcoin’s protocol, the blockchain, allows trust to be established between mutually distrusting parties in an efficient and decentralized way.
Archives for January 2015
More precisely, nearly all cap tables are wrong. Most cap tables are manually tracked in Excel. The “truth” of the cap table is held in the signed and dispersed paper documents (i.e. option grants) and the “model” is in excel. Frequently transactions (option grants, notes, exercises, etc..) are issued (the truth) but not recorded (the model). And the further away from a financing (when the cap table is normally cleaned up) the worse the entropy.