Entrepreneurs are building the next generation of the internet, say Chris Dixon and Packy McCormick. In order for that to flourish, “more leaders must realise the need for sensible regulation that encourages responsible innovation”
success of bitcoin, the pioneering cryptocurrency launched in 2008, many people associate blockchains primarily with money and finance. But the applications of blockchains are much broader. Modern blockchains are fully programmable, like aor a smartphone. What makes them unique, however, is that they let programmers write code that can make strong commitments about how that code will behave in the future.
Ethereum, released in 2015, was the first blockchain to fully generalise the ideas that began with Bitcoin. Ethereum can run programs that enable developers to build almost any application. Services built on Ethereum can offer advanced functionality that rivals the services offered by centralised tech firms, while removing rent-seeking and central points of control.
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