01 Why SMBs
Small businesses manage procurement, payroll, treasury, equity, and contracts through a patchwork of disconnected tools that don't talk to each other. Every seam between systems requires manual reconciliation, introduces operational risk, and creates information that only the business owner can interpret. Cash flow visibility is limited. Access to credit is expensive and dependent on opaque underwriting. Agreements are written in natural language that no software can execute or enforce. Cross-border operations compound all of this with friction in payments, compliance, and document workflows.
The deeper problem is structural: SMBs lack the bargaining power to negotiate favorable terms with vendors, platforms, and financial institutions individually, and they have no infrastructure to coordinate effectively with one another. Large enterprises solve this with dedicated departments, custom integrations, and volume leverage. Small businesses absorb the cost or go without.
An AI agent can't manage a business's operations if those operations aren't software-defined. Without verifiable, machine-readable state, automation hits a ceiling.
Onchain infrastructure offers an alternative: make ownership, liabilities, and cash flows verifiable by default; encode roles, limits, and triggers into programmable agreements; and bridge small firms into a shared economic layer where they can pay, sell, borrow, and invest on the same rails as everyone else. This track explores where onchain primitives can make small businesses legible to software and where that legibility enables fundamentally new levels of autonomy.
02 Areas of Exploration
Cap tables and equity
Verifiable, onchain ownership records from day one: issuance, vesting, transfers. We're exploring how onchain cap table management could make equity transparent to investors, employees, and regulators without relying on a third-party platform to be the source of truth, and how this enables downstream automation (vesting schedules that execute automatically, transfers that enforce compliance constraints by default).
Approval workflows and organizational identity
Programmable, role-based permissioning that enforces who can move funds or sign agreements, with onchain identifiers representing employees and members. We're researching how these structures could replace the informal trust hierarchies that most small businesses rely on, giving them the operational controls of a larger organization without the overhead.
Treasury management
Stablecoin-denominated treasury with yield strategies, automated reporting, and compliance hooks. We're looking at how onchain treasury tooling could give small businesses real-time visibility into their financial position and access to yield opportunities that are currently available only to firms with dedicated finance teams.
Payroll, invoicing, and revenue splits
Instant, programmable global payouts with automated tax and compliance reporting. Automated distributions to partners, employees, and investors tied to income events. We're exploring how tokenized receivables, payables, and revenue shares could make the financial relationships within and between small businesses executable rather than just documented.
Commercial agreements
Legal smart contracts that embed milestones, royalties, licensing terms, rebates, volume discounts, performance incentives, warranties, expiries, and dispute handling directly into execution logic. We're investigating where machine-readable, self-executing agreements can replace the cycle of drafting, interpreting, and manually enforcing contracts that consumes disproportionate resources for small businesses.
Bookkeeping and procurement
Real-time, tamper-evident "triple-entry" ledgers providing auditable financial history, combined with smart contracts for purchase orders, RFQs, vendor agreements, and automatic replenishment. We're researching how collapsing the gap between transaction and record could eliminate the reconciliation burden that dominates small business back-office work, and how programmable procurement could give small firms access to structured purchasing workflows they currently can't afford to implement.
03 Initial Work
Onchain Organizations Townhall
Community discussion on the design space for onchain organizational primitives, hosted at ETHBoulder.
Academic RFPs
Active research proposals for PhD candidates.