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Our parents built the internet, our generations turned it into something useful for the masses. I believe we are witnessing the same situation. Our generation c
by ThomPete 8y ago
Our parents built the internet, our generations turned it into something useful for the masses. I believe we are witnessing the same situation. Our generation created the blockchain but it will be the coming generations and the progress of technology which will find utility.
The blockchain doesn't "belong" to our generation just like the internet didn't "belong" to our parent's generation even though they created it... #Blockchain #cryptocurrency
We have too many endless debates about whether it's good or bad, a scam, to energy intensive, too much skepticism, too many scars from believing in media-hyped utopias or dystopias just to see them fail. The coming generations will adopt it as if it's the most natural thing in the world and find ways to utilize it we never thought off because they will be defining what has inherent value to them. If you don't, believe that you have never experienced how the art market functions or never heard kids discuss the latest skin or emote in Fortnite...
Culture drives what we consider inherent valuable, not pure logic or academia or Adam Smith. The blockchain is made for the digital culture and what will be considered valuable (and thus per definition scarce) within that domain for reasons still to be seen.
The blockchain is a protocol, protocols are infrastructure. The primary value of the blockchain protocol is its ability to remember which is what gives it it's "physical/atomic" properties. It's not decentralization as many believe as that was already solved with the TCP/IP protocol.
So you can say it's like TCP/IP with a memory.
This also means that it's much harder to take things from the physical world and apply the blockchain as that can still be compromised.
So instead of where it will shine is in things that are created in the digital space. Crypto Kitties, Money, Digital Pokemon Cards, Documentation, Identity, Marketplaces with digital assets etc.
Everything that has inception in the digital world.