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Earlier quoted context omitted.
Anywhere where there is no trusted intermediary, or their fees are too expensive. (And yes that’s a much smaller space than the block chain hype machine makes it out to be, but it is something tangible.)
> Anywhere where there is no trusted intermediary, or their fees are too expensive Such as......?
A16Z’s unapologetic bet on cryptocurrency and blockchain companies is big for the industry. As crypto heats up again and blockchain 3.0 projects emerge (Cosmos, Polkadot, Ethereum Proof of Stake) VC will help legitimize the industry.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
Edit: Strugglinng to type on my phone.
Earlier quoted context omitted.
I have also thought about this a good amount, and the answer is any place you want a market. Markets are a very interesting thing, and when they exist all sorts of things happen, but especially real time price discovery. What digital assets enable are markets around digital goods. Software can be funded and operated using new tokens specifically for that project. I believe it can be one solution for financing and cre…
Agreed that markets are very interesting, and agreed that real time price discovery is a thing that happens in markets... But I still fail to see how blockchain is relevant here? A centralized system for managing supply and demand equilibrium through dynamic price changes seems like the best system here. I do not feel as though have answered my question - would you mind expanding on your answer?
1. Better efficiency 2. The third party is there to help when things go wrong 3. The legal system can help when 2 won't work 4. It's more accessible to the less tech-literate 5. The third party always has skin in the game, and therefore an incentive to always be improving the system
A16Z’s unapologetic bet on cryptocurrency and blockchain companies is big for the industry. As crypto heats up again and blockchain 3.0 projects emerge (Cosmos, Polkadot, Ethereum Proof of Stake) VC will help legitimize the industry.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
Earlier quoted context omitted.
why not payments...which is what bitcoin was founded to do (though perhaps has moved too much into store of value territory)
AFAICT none of the blockchain tech has the ability to scale to the volume of something like Visa due to it's decentralized nature.
Also, no one is saying that blockchain in its current state solves all problem better than what we have now. What matters, and why some people would bet on certain blockchains/tokens/projects/etc is the belief that there are certain projects that have real potential to disrupt a big incumbent like Visa.
Earlier quoted context omitted.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
why not payments...which is what bitcoin was founded to do (though perhaps has moved too much into store of value territory)
My gut feeling on this is no, having used it with some frequency over the past 7 or 8 years, and I've yet to hear a really convincing argument about why Bitcoin is so much better.
A16Z’s unapologetic bet on cryptocurrency and blockchain companies is big for the industry. As crypto heats up again and blockchain 3.0 projects emerge (Cosmos, Polkadot, Ethereum Proof of Stake) VC will help legitimize the industry.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
Earlier quoted context omitted.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
When it comes to laundering money and ponzi scheming cryptocurrency is second to none in terms of cost, risk & speed. Edit: Strugglinng to type on my phone.
A16Z’s unapologetic bet on cryptocurrency and blockchain companies is big for the industry. As crypto heats up again and blockchain 3.0 projects emerge (Cosmos, Polkadot, Ethereum Proof of Stake) VC will help legitimize the industry.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
What centralized entity would you trust to run and maintain this database? What if this centralied goes bankrupt and shuts down the servers? If you are a small game developer, you are screwed. Even if it's Google, you still can't be certain that Google will not shut down the project and turn off the database like it has with certain projects in the past.
A public open blockchain is a neutral database that it would be reasonable for many small game developers to use for this purpose without fearing that it will get shut down, or the rules would be changed.