Erik and his co-host Tony Sheng (@tonysheng) of Decentraland interview Nic Carter (@nic__carter), partner at Castle Island Ventures and co-founder of Coinmetrics.io.

Nic explains why Bitcoin might end up like gold, where everyday people have little day-to-day interaction with it but it has a big influence on the monetary system, and how Bitcoin can be a check on the behavior of central banks.

He explains why he started Castle Island Ventures, explains its philosophy and how they plan to invest. He also explains his take on Bitcoin, Ethereum, and whether any of the altcoins will turn out to be worth anything.

He explains why he is bearish on DAOs in the short-term but in the long-term is very bullish. Nic also talks about how projects can improve their governance structures and how users can spot potential governance problems within projects.

Quotable lines from this episode:

“You don’t need the ‘gold standard’ to be the day to day currency, just like in the era of the gold standard people didn’t transact in units of gold.”

“I eventually think we’ll get to this world where we have the advantages of the cryptocurrency capital raise mechanisms together with the guarantees of equity — we just need to marry those concepts.”

“I’m kind of heretical in that I think there is a really big role for financial institutions to play in the crypto asset story.”

“I think that voting makes people feel more comfortable being governed because they think they have buy-in into the governance system.”

“The highest ROI on these projects is transparency — to be so transparent that it hurts.”

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Venture Stories is brought to you by Village Global and is hosted by co-founder and partner, Erik Torenberg. Shawn Xu is our researcher, Colin Campbell is our audio engineer, and the show is produced by Brett Bolkowy.