Pinned Tweet
As I return from maternity leave, I'm excited to share the result of a fun maternity leave side quest: Nyla the NFT is a children's book about a star named Nyla, who learns that her unique characteristics are what make her an NFT. I enjoyed collaborating with the real-life Nyla s project
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We've expanded our fund's scope to founders building new technologies and creating new markets. Welcome to a16z Frontier!
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Maggie Hsu retweeted
The biggest risk is not being ambitious enough.
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One of the core challenges that traditional financial institutions face when growing adoption of their crypto-related products has been the ability to reach KYCed customers who want to purchase these products. However, onchain KYC itself has not fully been solved.

I did a deep dive of current onchain KYC solutions, along with corresponding regulatory frameworks, alongside my @a16zcrypto partner @MicheleKorver. We also discuss the forthcoming Know Your Agent (KYA) landscape and emerging solutions.
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Replying to @meigga
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Must watch!
AI is getting better at solving hard math problems, especially given recent drops. But what does that mean for the cryptography that protects everything from private messages to healthcare to banking and crypto wallets?

Stanford cryptographer Dan Boneh, with @eddylazzarin, vy, and @smc90, makes sense of the warnings sounded recently. They cover:

- what’s fact vs. assumption
- what’s new and what risks cryptographers have long prepared for
- where quantum computing doesn't (and does) fit
- opportunities for builders

Highlights:
00:37 – What sparked the most recent debate about AI and cryptography
01:35 – Signal vs. noise: What the math does and doesn’t tell us
05:29 – Why cryptography depends on open problems
09:25 – Why the stakes go beyond blockchains
10:43 – How AI could strengthen confidence in cryptography
13:50 – Considerations for users and institutions
20:10 – Where AI and quantum threats overlap
22:32 – Building systems that can change cryptographic methods
23:59 – Hash-based versus lattice-based cryptography
33:07 – Opportunities for builders, and better security tools
38:14 – What comes next if there were a cryptographic break?
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Maggie Hsu retweeted
Where are all of the networks?

Most of the great AI companies so far seem to be single player, scale economies businesses.

What are the networks being built right now? OpenRouter a notable exception
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What a great week in Korea for Korea Blockchain Week. Institutions are increasingly coming onchain. At our @a16zcrypto KBW Summit, I moderated an all-star panel with @YuvalRooz (@digitalasset @CantonNetwork), @PaulFrambot (@Morpho), and @jinglejamOP (@Optimism) on the strong tional adoption in Korea, how to think about progressive privacy, and why local stablecoins matter. At the Asia Stablecoin Conference, @alexlimasia (@LayerZero_Labs) and I discussed how crypto rails are being used for "mundane" transactions like payroll, merchant settlement, and treasury management. That's a great sign: stablecoin transaction volume that doesn't move with crypto prices reflects real consumer and institutional adoption. I also managed to eat half my body weight in kBBQ and ramen along the way!
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Welcome start to the day, thanks for having us @alexlimasia !
Who would have thought a 9 AM crypto breakfast would bring together over 80 people in suits?

Love to see our industry maturing in different ways.

Absolute pleasure to kick off this year’s Asia Stablecoin Conference with @meigga and @YuvalRooz.
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Maggie Hsu retweeted
This week : Seoul, KBW - with @guywuolletjr @kimbatronic @liz_harkavy @MehdiHasan715 @meigga and MANY MORE from the @a16zcrypto US crew

Next week : Short stop at Tokyo, then Singapore, Token2049 (till 11th of Oct) - with
@robbiepetersen_
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This is a must-read article for financial institutions thinking through their onchain approach. @RebeccaRettig1 explains that financial institutions do not necessarily have to go with permissioned networks. There is are existing compliant ways for financial institutions to use/build on permissionless networks.
1/ grateful to @a16zcrypto for recognizing the importance of ensuring financial institutions can use/build on permissionless networks. The article published today gives a brief synopsis of the paper (&framework) @m_mosier_ @malekanoms (link ⬇️).
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Maggie Hsu retweeted
it's a make-or-break moment for CLARITY

supported by a who's who of major financial institutions and some of the country's biggest law enforcement orgs

it's fate now hangs in the balance in the senate

@pmarca & @cdixon join me to break down every objection to the bill, one by one, and explain why none of them hold water
Crypto is at a pivotal moment.

As Congress debates landmark market structure legislation, Marc Andreessen and Chris Dixon discuss the decisions that could shape where the next generation of financial infrastructure is built, and whether the United States remains the global tion:

00:00 Intro
05:31 From crypto subculture to financial infrastructure
08:37 Why crypto needs rules now
12:20 The regulatory war on crypto
15:41 How CLARITY could prevent another FTX
22:42 Why criminals using crypto may be easier to catch
26:20 Privacy, blockchains, and the invention of HTTPS
30:41 Government ethics and crypto
34:52 The banking lobby’s stablecoin fight
37:05 Why every major bank is building on blockchains
41:04 Developer liability as a killshot
45:23 How CLARITY provides oversight
49:30 What happens if CLARITY fails?
50:50 Regulation vs. innovation
54:12 Why America should lead
55:36 What CLARITY could unlock

@pmarca @cdixon @rhackett
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Love to see CLARITY take over D.C.
working remote this week, can anyone guess where i am 👀👀

hint: looking for some CLARITY
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New post from my GTM partners @cc_crowley and @lordvolth on what TradFi blockchain adoption actually looks like >>
TradFi isn’t adopting DeFi.

It’s adopting the parts of blockchain that improve settlement, distribution, and capital efficiency, and reshaping them around institutional requirements.

That's not a bad thing. It's a deliberate architectural choice and it creates two distinct opportunities for builders: partnering with institutions to scale proven infrastructure, or continuing to build open networks where the next generation of financial primitives are created.

Institutional infrastructure brings scale, capital, and distribution.

Open networks remain the industry’s primary source of experimentation and innovation. The permissioned layer is often downstream of the open one.

At the industry level, we need both. At the company level, most teams should pick one.

Different customers. Different products. Different GTM motions.

One nuance:

Institutional infrastructure and open networks aren’t competing futures.

What connects them is the infrastructure underneath.

The application layer may look different. The rails are increasingly shared.

New piece with @lordvolth @a16zcrypto

a16zcrypto.com/posts/article/…
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Read this in an article the other day and finally got around to trying it. Nothing fully replaces bedtime cuddles, but this is a pretty cool parent hack for the nights you can't make bedtime!

1. ChatGPT -> Create and personalize a chapter book about my kids, who discover tres ago by their great-great-great-great-grandfather "Boggybottom Wagner" (inspired by their recent mail-order mystery treasure hunt). Also added basic math concepts to the book's storyline

2. ElevenLabs -> Clone my voice to narrate each chapter

3. Yoto -> Load each chapter as a track on a custom card

They love hearing a bedtime story from mom, even from afar!
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Great overview of the Korean institutional blockchain landscape from my partner @sungmo_apac16z !
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Maggie Hsu retweeted
A handful of ideas hold up the entire digital world, but most of us never learn where they came from.

So we went to the source: the people who solved these problems, and won Turing Awards and Nobel Prizes for it.

First Principles, hosted by @Tim_Roughgarden. First episode out now.
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It’s great to continue to work with @PaulFrambot and the entire @Morpho team on their vision of an open credit network 🦋
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Thrilled to announce our newest crypto fund to back founders “turning new infrastructure into products people use every day”. Let’s go!

And congratulations to the 🐐 @eddylazzarin on his promotion to GP!
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