Panda Heist

About

The Promise of Decentralization

2019-10-10

I have been organizing the NYC Blockchain Devs meetup for about 1.5 years. It has been a great experience that has exposed me to the future of the internet.

It is a future where:

  1. Privacy is respected.
  2. Decentralization is baked in.
  3. Winner take all platforms who exert monopolistic power with data moats are reduced.
  4. The internet of value allows for decentralized finance where capital can operate like information; reaching anyone, anywhere.
  5. Social scalablity can allow for new forms of co-operation networks and governance models.

The cryptocurrency aspect of blockchain are interesting, but by far the most boring part of this technology.

It is interesting to note that there still hasn't been a household name company that resides ON the blockchain. I believe that these companies are being created today. While the media is concerned with the technology not working perfectly, or the price of Token X, the smart money is in experimenting with these technologies to create massive value at scale.

Essentially, blockchain and decentralized ledger technologies are a modern incarnation of two tools that helped propel humanity to our modern times: the corporation and double entry accounting. With decentralized automonous corporations captial can be managed, risk is spread and lowered, and new fluid goverance systems can emerge. With a blockchain or decentralized ledger technology debits and credits, financial instruments, and the power of a stable fianncial system can reach billions of people and self execute across ANY government.

Smart contract platforms can help export pieces of stable and effective governance system. People can opt into meta governments without immigrating. It is essentially what people do (in some small way) when they opt to trade in US dollars (and thus US's laws that ensure stablity of the dollar), instead of the Venezuelan Bolivar.

However, when will these systems mature and begin to scale? That is a big open question.