Crypto needs an ownership overhaul: Crypto succeeded in building global, permissionless markets. But it never clearly defined what those markets entitle you to own. This is not a token design problem. It is an ownership crisis. The next era of crypto will not be defined by "better tokens", but by better ownership structures.

Crypto needs an ownership overhaul: Crypto succeeded in building global, permissionless markets. But it never clearly defined what those markets entitle you to own. This is not a token design problem. It is an ownership crisis. The next era of crypto will not be defined by "better tokens", but by better ownership structures.
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An influential crypto commentator is arguing that the core problem in crypto is not token mechanics but a lack of clear, enforceable definitions of what users actually own when they hold tokens or interact with protocols. The post frames this as an “ownership crisis” and predicts that the next phase of the industry will be driven by new ownership and legal structures rather than incremental improvements in token design.

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