1/ Where is the blockchain revolution supposed to be?pic.twitter.com/pliDJo60n4
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2/ I've lurked in this space for a few years, but I'm getting serious about it now. Still a newb but a fast-exploring one, technically and otherwise. At this point I think it's way cooler than lots of my peers realize and also less revolutionary than it's loudest voices claim.
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3/ The part that I'm still trying to grapple with is the opening prompt: Where is the blockchain revolution supposed to be? In the near term, it's the Truth Machine, right? Mechanized, transactional trust.
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4/ I think that, under the current economic system, that is incredibly valuable as cost savings. If you need fewer intermediaries and their role was already mechanized to the point of sclerosis, permission-less innovation and disintermediation removes vestigial organs!
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5/ But, how much relative-gain is that? As in, relative to the truth-encoding properties of the existing status-quo, how much additional truth gets unlocked, technologically? (I really don't know.)
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6/ Of course, I don't think that's the point. The real Grand Visions come from what permission-less innovation and disintermediation would enable. Maybe new socio-economic structures could emerge!
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7/ But you really can sketch almost any argument once you invoke complexity-thinking. So, again: no clue. Is it really a big deal, or is it optimizing at the edge?
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8/ I'm short-term optimistic, long-term pessimistic? Short term, it's an incredibly fertile space. I think it will restructure a lot. Long term, I'm afraid the limiting effect is relentless optimization and mechanized trust. That seems like it would be a monstrous constraint.
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