Bloom Research
The thesis, the numbers, and what could break it.
Long-form investigations into money, technology, and who captures the value. Selected research by Naly, also published on Substack.
Featured research · Open archive
NEAR: Ultrasound Markets
A NEAR investment thesis exploring connected markets, confidential AI, token economics and where value could accrue.
Selected research
Original publication dates are shown throughout. These pieces preserve the views and evidence at the time of writing.
Invisible Bitcoin: A ZEC Investment Thesis
An examination of Zcash through monetary history, privacy technology, token economics, and the risks to adoption.
The Permissionless Economy - Understanding Bitcoin
From monetary trust to programmatic scarcity: a deep dive into Bitcoin’s foundations, security, and role as a store of wealth.
The Trustless Economy - Understanding Ethereum
How smart contracts change the role of trust, and how Ethereum enables programmable money, applications, and decentralized finance.
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New ideas. An ongoing conversation.
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