You rarely hear of issues at the networking layer of the Internet: networking companies are running utilities business: they are fungible and can be swapped if distrusted. Most of the value captured on the Internet -- and also most abuse -- happen at the Compute and Data layer of the Web. Ethereum gave us a glimpse of a fundamentally different architecture for Compute and Data than Client/Server architecture.We think the Internet is 1/3 complete, and that programmable cryptography can finish it.