S3T Jan 9: NFTs > Pics, POAP, Digital Wallets, Moral Hazard, Bird Bling...

S3T Jan 9: NFTs > Pics, POAP, Digital Wallets, Moral Hazard, Bird Bling...
Puppy The Bird NFTs 

S3T is for change leaders who are motivated to harness the benefits of emerging technology and learn how to enable a truly wealthy world. This is different from harnessing emerging tech for capital gains, or for hegemony.

Decentralized Internet Roundup

After Christmas Sale: Bitcoin and Crypto at low low prices!

Bitcoin's 13th year is off to a rough start, with prices tumbling this past week on fears that the Fed may get more aggressive on inflation. Some optimism persists, and the overall blockchain industry continues to rapidly evolve. A few highlights below.

Digital Wallets = The Next Web Browsers?  

Fascinating read - Matt Luongo argues that digital wallet wars are the new web browser wars because digital wallets "are becoming the interface for Web 3.0 aka the decentralized internet. Related: CNET's 2022 guide to the best digital wallets for different kinds of user needs and preferences.

NFTs aren't just funny pricey pictures

Its time to expand our thinking about what can be accomplished with NFTs:

In short think of anything (titles, patents, copyrights) that requires non-reproducible/non-fudgeable identity and ownership. It is going to be exciting to see how this primitive is used in the Web3 universe. (This weeks feature headline image features a few of my NFTs.)

Proof of Attendance Protocol (POAP)

- POAP is a blockchain that provides proof of the credentials, memberships or other events and milestones of your life. Read the value proposition of POAP for a quick explanation - great example of how decentralized architectures are able to center on the individual and offer equitable benefits for individuals in ways that centralized architectures have struggled to deliver. Similar concept: Open Badges


Shot made while filming for yesHEis project
Photo by Nik Shuliahin / Unsplash

Beyond Moral Hazard

Healthcare is very tangled up in the moral hazard argument which assumes that patients "consume less healthcare when they are required to pay more for it out of pocket."

There are several serious flaws in this line of thinking:

  • For the patient, the deterrent to moral hazard is already sufficient: the fear associated with uncertainty, treatment, pain, not to mention the risk of harm due to medical errors. These elements loom large in the minds and motivations of patients. People generally try to avoid utilizing healthcare. Going to the doctor is not as appealing as eating pizza or drinking beer.
  • There is more than one form of over-consumption. People who "over-consume" are usually being under-served. They return to the doctor over and over, or seek out additional doctors because they are not getting solutions and the system is failing them. Its not indulgence, its distress.
  • Finally, the problem of clarity: when people order burgers at a drive thru, they are willfully consciously making a decision to consume something: they are presented with a clear priced menu, the opportunity to select from the options, the opportunity to confirm their order and the price, then promptly receive what they ordered. Healthcare by contrast rarely offers this kind of experience. Bills accumulate silently, then are delivered via inscrutable paperwork. Patients must wait to see if a treatment is effective or not. If its not they are forced to start another cycle of consumption.

In this context, going on about moral hazard and "over-consumption" feels like nonsense.

The moral hazard argument as structured today seems to tacitly accept the twisted insensitive logic that healthcare cost and complexity are actually good(!) because they help control moral hazard and supposedly limit what the industry has come to call "over-consumption".

Healthcare Finance leaders on both the payer and provider sides should acknowledge that this construct no longer serves us. Its time for more diligent financial innovation toward a simple affordable healthcare. I want to continue this conversation next week. In the mean time reach out to me on Twitter (@RalphPerrine) if you'd like to share reactions or thoughts.

Outdoor Notes

Bird Bling

Ipswich Sparrow photographed at Mason Inlet Waterbird Management Area, NC

If you see a sparrow like this one with multiple colored bands on its legs, in a coastal area of the Eastern US, please report it to the Ipswich Sparrow Project. I reported this bird and the team responded, letting me know that this bird was banded on Sable Island, Nova Scotia, on 11 Aug 2019 by the project team. Its band number is 2471-65330.

The Ipswich Sparrow is a subspecies of the Savannah Sparrow. This subspecies breeds only on Sable Island, Nova Scotia. In winter the birds fly southward along the east coast from Maine south to the Carolinas. Little is known about their winter existence but researchers have noted high mortality rates.

If you are planning to visit a beach between now and spring migration, here's how you can help by being on the lookout for these birds and reporting your sightings to the project team.

Birds of the World Subscription Discount

Birds of the World - Comprehensive life histories for all bird species and families
Species accounts for all the birds of the world.

Between Now and March 31, Birds of the World is offering a discount on their subscription. Birds of the World is the definitive library on birds:

  • Full life histories on the 10,824 species of birds
  • 30+million images, videos and recordings
  • Over 1900 authors
  • Interactive taxonomy organized into the 249 families of species

I'm in my 2nd year as a subscriber. Check it and get your discount at birdsoftheworld.org.

Have a great week! Feel free to forward this to a friend or team member!


Opinions mine. Not financial advice. I may hold assets discussed.