“So… the blockchain revolution is so fascinating because it could actually be TWO completely different revolutions… both profound in their implications:
-Censorship-resistant digital cash providing a new platform for open, permissionless innovation driven from the margins
-And industry-level systems of record driving efficiencies for incumbents.”
I know what I pick.
I gave a brief talk on Bitcoin and blockchain technology to an audience of non-specialists at a dinner last week. It covers many of the themes I’ve explored on this blog before. But the short, fifteen-minute, format forced me to be brief and clear. This is an edited version of the speech
A £20 note has an obvious, yet extraordinary super-power. I can hand it to anybody in this room and £20 of value will be transferred instantly, directly, peer-to-peer, person-to-person. Settlement, with finality, in central bank money! And nobody else need know. And nobody can stop me.
Super £20!! [I really hope there’s no law against posting photos of money…]
But this super-power only works at close distance. If I want to transfer £20 of value to somebody in a different town or in a different country, I need to trust other people. Sure: I could put the…
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