What are the deepest questions & ideas people are exploring around crypto? Not get-rich-quick, but rather ideas that may be really transformative. Explanation and links welcome!
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Here's one I heard from a friend: ICOs are interesting because for the first time they really incentivize the creation of new open protocols. SMTP, HTTP, SSL etc all arguably at least as valuable as Google/FB, but no value capture, so people didn't work so much on new protocols.
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Replying to @michael_nielsen
John Backus Retweeted John Backus
ICOs incentivize people to build things where private keys are mandatory. If *anyone* can build an easy to use product that puts private keys in the hands of end users, massive potential is unlocked for identity, privacy, security, and of course finance.https://twitter.com/backus/status/987063369730408448 …
John Backus added,
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Replying to @backus
Can you characterize where private keys are mandatory? Seems like almost anything where people instinctively want control over some aspect of access.
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Replying to @michael_nielsen
Well, if you do a token sale and you don't build a decentralized product then the SEC will probably sue you and the ecosystem will call you a scam (rightfully so). People talk about it as a fund raising mechanism but it is actually a promise about how your product works.
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Replying to @backus @michael_nielsen
So, people have to figure out how to make things work with a blockchain in the middle no matter what. Means people need to tackle usability problems no one has been incentivized to do in the past I think. I've particularly enjoyed thinking about this stuffhttps://blog.hellobloom.io/how-to-make-a-user-friendly-ethereum-dapp-5a7e5ea6df22 …
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Replying to @backus @michael_nielsen
There are still a lot of big questions to figure out but I think someone will get it. How do you tie private keys to biometrics? How do you let people recover keys? If you backup keys to the cloud, how do you make sure compromising those doesn't mean complete account takeover?
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Funny - a lot of these things (privacy, usability) are things Apple is as good at as anyone.
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Replying to @michael_nielsen
I think they were very forward thinking to have taken such a pro privacy stance over the last few years. Yeah, I think Apple specifically could own this world if they wanted. I don't think a big company will move on it though. Big co sees liability, startup sees upside.
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Passwords → Signatures
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