Alliance DAO Co-Founder: Blockchain moat is narrow; even the strongest crypto businesses are only mid-tier.

2025-12-11 01:01:06

Odaily Planet Daily reports that Alliance DAO co-founder qw shared his personal ranking of “the levels of competitive moats across different industries” today, and pointed out that the moat of blockchain itself is very limited, at about 3/10. qw’s moat scoring system is as follows:
10/10 (strongest moat)
Microsoft (key SaaS)
Apple (brand + development ecosystem)
Visa/Mastercard (payment network effects)
TSMC (IP + physical infrastructure)

9/10
Google (search and AI IP)
Amazon (e-commerce network effects + logistics infrastructure)
Moody’s, S&P, FICO (regulatory-driven + brand + rating network effects)
Large cloud computing (AWS/Azure/GCP, etc.)

8/10
Meta (social network effects)
NVIDIA (IP + CUDA network effects)

7/10
Tesla (strong automation technology, but cars are still somewhat commoditized)

5/10
The best encryption business in the industry

3/10 (narrow moat)
Public blockchains (blockchains)

qw further stated that having a weak moat is not necessarily a bad thing but means the team must be able to continuously lead in innovation; otherwise, they will be quickly replaced. He also mentioned that Bitcoin can be rated 9/10, and ASML belongs to the 10/10 level.

BTC0.64%

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