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digital daily: Logical Dissent

Logical Dissent: Diversification of thought helps avoid blind spots. A brilliant group with similar training leads to common errors. If you want to avoid those, seek people out who see it differently. To that end, the mindset of innovators will be differentiated from institutions. Take Galileo. He figured out the Earth wasn’t the center of the universe, yet spent his last decade in house arrest. He was charged with heresy by institutions. His logic prevailed in the end. Such is the path of the thoughtful dissenter. SEC Commissioner Peirce offered a logical dissent on the latest SEC amendment. It’s a must read. “The release sends a message that we [at the SEC] are uninterested in facilitating innovation and competition in the financial markets and instead seek to protect incumbents,” she observes. The current division among regulators is reminiscent of the 1987 stock market crash. The incumbent voice back then was matched against dissenters like SEC Commissioner Grundfest, who forcefully offered that “the solution to the market's current problems lies much more in innovation rather than foolish regulation and measures that operate, at best, as placebos.” Grundfest then, like Peirce today, called for constructive collaboration rather than regulatory turf battles. Logic survives cycle. And the logic of digital infrastructure is too powerful to dismiss. Transparent, secure and durable base layers versus walled gardens where incumbents hold the keys to entry – there’s little doubt where the future converges, just the time that it takes to get there.