Over the course of the day, we’re going to hear from many technicians, entrepreneurs and academics at the forefront of blockchain innovation, all of whom look at this space from different perspectives and with differing views on what blockchain is, represents, and will become.
Over the last year and a half, I’ve had the privilege to lead an incredible team focused on delivering a high-performance blockchain protocol designed to be fast, free, and scalable — EOS.
Through this process I’ve been able to study the different value propositions and trade-offs that many different blockchains have to offer, and I’ve witnessed and been a part of many debates relating to technical and structural nuances on the optimal construction of a blockchain platform.
I’ve spoken and argued over the definition of decentralization itself, and have realized that although we’re all in the business of consensus, it is clear that we can’t always reach it amongst ourselves.
Although blockchain is a new technology, it welcomes everyone, with no prerequisites, and is inevitably becoming a large part of all of our futures.
I, personally, am not the most technical person in the world, but this industry has gotten to a point where the technical discussion has gone from being the primary debate to a niche interest that can often alienate its broader audience, and the things that we all commonly value.
Blockchain is simply a mutually-agreed standardization of data storage and transmission; it’s a set of constraints that developers agree to abide by in order to obtain security, auditability, and interoperability amongst peers.
Blockchain is to data what regulation is to society. Perhaps this is why, superseding the technology itself, blockchain has become a movement — a social and economic movement — and we are all united by the common understanding that this is a revolutionary technology that offers the promise of a more transparent, efficient, and interoperable world.
A promise that large organizations are one day not run on behalf of just shareholders, but run for the users themselves, safeguarding their privacy and driving value back to those that create it.
A promise that large networks of anonymous collaborators may yield more grand and efficient outcomes that defy the limits of what we even understand is possible today.
A promise that hidden adversaries may no longer thrive through obfuscation, and transparency may usher in a new era of equality and accountability.
And a promise that, over time, at the very core of our society, our governments will better represent all of us.
As many are familiar with, Bitcoin — designed originally as a digital store of value — is credited with elevating the potential of blockchain technology, and is perhaps the first neutral “money” that is issued in a relatively fair and transparent way.
It’s digital, infinitely divisible, globally transferable, highly secure, finite, peer-to-peer money that lends no bias to any government and can’t be controlled or printed by a central authority.
We all know that today the world reserve currency is the USD. USD is printed and managed by an organization called the Federal Reserve, and through inflation all holders are effectively taxed by one party.
While this has proven to be a very successful model and will surely remain an integral and stable part of our society for a long time to come, blockchain-based digital money offers the potential of neutral stores of value that offer no bias or advantage to any one group, and seek to usher in a new era of borderless equality-of-value for all societies and nations throughout the world.