Blockchains excel at securing settlement through self-enforcing rules, but financial transactions involve seven lifecycle stages—discovery through enforcement—each vulnerable to exploitation. PriFi infrastructure must address privacy and security across the entire transaction chain, not just settlement, to provide credible commitments comparable to traditional institutions.
An essay examining why independent producers rarely license dormant studio catalog despite open access, drawing parallels to Alvin Roth's market design work in organ donation. The author argues that markets fail not from prohibition but from coordination problems—too few participants or insufficient time to evaluate offers—and that an open door does not constitute a functioning market mechanism.