Faster! Faster ? by Seth Godin


Faster! Faster? [ https://p.feedblitz.com/r3.asp?l=178129647&f=1081591&c=7655837&u=5102652 ]

This simple free tool lets you speed up just about any video you watch in Chrome.

And it’s not difficult at all to speed up audiobooks or podcasts, just look for the button in your favorite player.

If the topic lends itself to you absorbing the information faster than the person is presenting it, this simple hack increases the amount you can learn by 30%, which is huge.

On the other hand, if you’re simply speeding things up because you are in a hurry to get through it, it might be better to not do it at all.

Four Signs Someone Has the Maturity of a Child


View at Medium.com

Recap for your memory

  1. They are a revolving list of complaints. They sound like they always need a nap.
  2. They speak with no consideration for other people, or their feelings. They seize any opportunity to blunt someone over the head with the “hard truth”.
  3. They can’t take criticism of any type without blowing up or getting defensive. Everything is a reaction.
  4. Apologies are rare and when they arrive it is done kicking and screaming. Any apology that includes a “but” isn’t a true apology.

W.O.T.D.


WORD OF THE DAY
EquableEK-wə-blPart of speech: adjectiveOrigin: Latin, mid 17th century
1(of a person) Not easily disturbed or angered; calm and even-tempered.2Not varying or fluctuating greatly.
 
Examples of Equable in a sentence “Dad is easier to bargain with because of his equable personality.” “The sea was equable and glassy, with not a single wave in sight.”

Insights


TIMELESS INSIGHTS

1

“You can’t outrun your pain. You are strong enough to face whatever is in front of you. Medicating your pain will only bring more pain. The only genuine shortcut life offers is facing your feelings. They won’t kill you. Feelings are your soul’s way of communicating. Pain is trying to teach you something, and if you don’t listen now, it will speak louder and louder until it is heard.”

— Jewel in Never Broken (p. 377)

2

On Learning to Argue

“Once people accept the case for why you need to be exposed to people who disagree with you, and who challenge your ideas, then the question is, how do you do it? And here I have two recommendations. One, the one that worked for me, that really helped me, because I was an arrogant argumentative teenager and young adult, is reading Dale Carnegie’s book, How to Win Friends and Influence People. And it’s so easy once you read it. It’s a great book, it’s a really fun book. And what he teaches you is, don’t come out saying, “You’re wrong and here’s why.” Come out saying, “Oh, that’s very interesting. I think you’re right about that one thing there.” Or, “We have this in common.” Or, “I can understand why you’re saying that,” or, “Here’s something in my experience that confirms what you said.” And once you start by agreeing on something, then you can pivot to, “But now on the other hand, it seems to me that…” and then you can raise your point. And then you’re much more likely to persuade the person … If you’re a Homo sapien, you evolved for group combat, you evolved for confirmation bias and motivated reasoning. We’re not really evolved to be academics or scientists searching for truth in an unbiased way. We evolved to basically CYA, and win in social competitions. But if you learn some skills, you can actually be very effective as a teacher, as someone who persuades, as someone who changes people.”

— Jonathan Haidt on TKP

Curiosity


EXPLORE YOUR CURIOSITY

★ “That thing that made you weird as a kid could make you great as an adult — if you don’t lose it.”

— Unsolicited Advice

★ “The majority of the time you spend sport climbing, you’re failing: falling off and then trying to figure out how not to fall. Climbing reminds you that to get better at anything, you’ve got to put in a tremendous amount of time and effort and keep beating your head against a wall to figure it out.”

— Alex Honnold, Life’s Work

Love


Love isn’t a state of perfect caring. It is an active noun like ‘struggle.’
Fred Rogers
Ah, Mister Rogers, the wholesome father figure whom generations of kids grew to cherish thanks to his regularly shared nuggets of wisdom. He had so much good advice, in fact, that he filled an entire book with it, called “You Are Special: Words of Wisdom for All Ages From a Beloved Neighbor.” In this quote from that book, Mister Rogers tells us that love isn’t effortless. You can care about someone easily, but to continue to care about them as they grow and change — and sometimes cause pain — takes some work. But some things are worth working for, and when it comes to love, it’s almost always worth it to put in the effort.

Why the blockchain matters – By SEth Godin


Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.Why the blockchain matters [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later. [ https://p.feedblitz.com/r3.asp?l=178109673&f=1081591&c=7653545&u=5102652 ]

But first, let’s understand some words…

Bitcoin is not the blockchain. If the blockchain is a printing press, Bitcoin is a kind of paper money. There are countless things that one can do with a printing press, in fact, it changed the world, but the invention of paper money isn’t even one of the top 100 most important outputs the printed press created.

Cryptocurrency has a terrible name. Most people associate “crypto” with spies and secrets. And a currency is generally backed by a nation, with a treasury, an exchequer and banks.

It’s more accurately thought of as a token.

If you went to an amusement park, you might buy a bunch of tokens or tickets to go on the rides. And if you run one of the rides, you collect the tokens, which at some point, you can trade in for a different sort of value, probably currency.

If people need tokens and they’re scarce, they go up in value. If people think that tokens are going to up in value, they might buy them in anticipation of that. And the things that people do to get tokens can range from simply buying them with paper money (!) to performing various tasks (like the ride operators in the example above).

And, if a lot of people own tokens, they’re likely to do things that make tokens go up in value. Thus, an ecosystem is born.

Okay, so what’s the blockchain?

It’s a database.

Unlike most databases, it’s not controlled by one entity and it’s not easily rewritten. Instead, it’s a ledger, a permanent, examinable, public database. One can use it to record transactions of various sorts.

It would be a really good way to keep track of property records, for example. Instead, we have title insurance, unsearchable folders of deeds in City Hall and often dusty tax records.

There are databases everywhere around us (Facebook, for example, is mostly a database–who are the users, who do they know, what do they do?). Because the internet rewards people who own networks so handsomely, these organizations continue to gain in power. Google began by building a database on top of the open internet, and they’ve spent the last twenty years relentlessly making the internet less open so they can fortify the power of their databases and the attention they influence or control.

And that’s the first reason that the blockchain matters—because there’s a chance that it might lead to more open, resilient, market-focused networks and databases. It’s only a chance, though, because all the hype around the tokens sometimes makes it seem more likely that financial operators will simply seek to manipulate unregulated markets for their own benefit.

The second reason might support positive change. The existence of tokens and decentralization means that it’s possible to build resilient open source communities where early contributors and supporters benefit handsomely over time. No one owns these communities, and we can hope that these communities will work hard to serve themselves and their users, not the capital markets or other short-term players.

Consider a project like Wikipedia. Tens of thousands of people have devoted millions of hours to working to build it. 5,000 active editors are responsible for most of the work that we benefit from every day. This is unpaid work, done for the community and for the satisfaction and status that comes with it.

But of the top 100 websites, there are very few that are built on this model.

Now imagine a blockchain/token project in which contributors earned tokens as they built it and supported it.

Over time, the decentralized project would go up in value. As the ecosystem and the market delivered more and more utility to more and more people, the users would need to buy tokens to use it. And the holders of tokens would receive either a dividend or have the ability to sell their tokens if they chose.

Early speculators would attract more attention, and people with more skill than capital could invest by contributing early and often.

As the project reached a steady state, the stakeholders would shift, from innovators and speculators to people who treat their daily contributions as a job without a boss. Innovators could build on top of this network without permission, creating more and more variations and choice using the same underlying database.

One way to consider this: The open web led to a huge leap in the number of useful databases that we all use (things like Zillow, Instagram and even Tinder). They were fairly cheap to launch and run, and once the network effect kicked in, the profits were significant. Investors were eager to fund the next one, because the odds of a big win dwarfed most of what they could choose from in traditional businesses.

But dominant players are now working to make the openness of the web (the thing that allowed them to grow in the first place) less open. Google and Facebook and others push to make their stock price go up, not to serve users and others who now understand they have little choice in the matter.

The distributed nature of the blockchain, combined with this novel way of funding early contributions means that the network effect may very well bring powerful new databases to the fore, creating new ways for us to interact.

It’s hardly going to be perfect. There’s the issue of how the blockchain itself is run. If it’s run on the original method—proof of work—it’s likely to be a carbon disaster, getting worse as it succeeds. Fortunately, there are new approaches on the horizon (with great names like ‘proof of stake’ and ‘sharding’) that might address these problems.

For the typical user, the existence of the blockchain itself won’t matter, just as you don’t need to know how many volunteer editors Wikipedia has to benefit from using it.

The reason the blockchain matters is that it is an agent of change. Just like the transistor and yes, the printing press, when an agent of change shows up, it often leads to shifts that we probably didn’t expect.

Understanding it now is more productive than simply being forced to deal with it later.

National Technology Day – 11 May


National Technology Day 11 May

national technology

National Technology Day acts as a reminder of India’s technological advancements. Notably, on this day, India successfully tested Shakti-I nuclear missile at the Indian Army’s Pokhran Test Range in Rajasthan.

Content marketing ideas:   

  • Listicle idea: Here’s how technology can help us manage a pandemic
  • Infographic idea: Tech trends to look out for in 2021
  • Video idea: X Technological advancements made by Indians
  • Podcast idea: How will the job market change with better technology?