I wasn’t able to make the recent CryptoEconomics conference organized by Kieren James-Lubin and crew but I loved this point by Steve Waldman.  There is much promise in these crypto systems, but if we tie one arm behind our back and make “identity” and “reputation” not parts of the equation – at least at times, we are unlikely to find them to be the robust tools that they have the potential to be.

His point focuses primarily on the maintenance of the ledger (which is where fraud would occur in a cryptoeconomic system).

More of Steve’s work can be found at Interfluidity