I’ve spent a long time in this space, and one thing is clear to me:
Bitcoin didn’t “fix money.”
It fixed something more specific — the need to ask permission to settle value.
Every system before it broke at the same point: someone had the final say. And final say always turns into leverage.
Bitcoin changed the incentives.
Control became fragile.
Censorship became costly.
But that’s just one layer. Governance, credit, RWAs, stablecoins — those still need serious engineering.
The next decade won’t be about BTC vs fiat.
It’ll be about permissioned systems vs protocol-native ones.
That’s where the real work is.