Interview location: Skype
Interview date: Wed, 10th October 2018
Company: Castle Island Ventures
Role: Partner

Union Square Ventures posted a blog post this week titled The Myth of the Infrastructure Phase, shining a light on the imbalance between infrastructure work in crypto and DApp usage. There is an abundance of blockchain scaling projects, alternative currencies and governance protocols but a distinct lack of users. Why is this? Are people solving problems which do not exist? Is this a speculative land grab? And how will this all play out?

In this interview, I talk to Nic Carter, a partner at Castle Island Ventures, who has publicly declared their investment thesis focuses on equity deals for companies building on public blockchains, specifically Bitcoin.

I put to Nic a number of areas I am struggling with on token projects and we discuss:
- Token models
- The obsession with blockchains
- What is the point of on-chain governance
- Whether the web 3.0 stack is a thing
- Mining centralisation
- Bitcoin privacy
- Realised cap as an economic model for Bitcoin

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