•Moloch is the prisoner's dilemma, the tragedy of the commons, and the race to the bottom.

•Moloch is arms race, global warming and worker exploitation.

•Moloch is the demon of competition gone wrong.

•Moloch in this context is an ironic joke about the futility of attempting to solve coordination problems.

•The objective is to create a world outside of Moloch's grasp and blockchains can help reduce coordination costs by providing credible commitments to cooperation.

•To vanquish Moloch, you have to rewire society with Smart Contracts.