ARCHIVES: The cryptoverse — and particularly the cryptographic magic embedded in the blockchain — represents one of the most profound advances in technology since the internet and smartphone. It will seep into all our lives within a few years and ...
I have been writing this crypto column for a few months now, and although I always read the comments on my column, I rarely choose to do battle with detractors, knowing full well that a public online spat never turns out well for anyone, and no one ever changes their mind. But the abyss between lovers and haters is vast, and I wonder why there is so little middle ground.
But my loyal correspondents come in what seems like only two flavours. They are: yeah, I agree and wish to add; or: this stuff is all bollocks and should be banned .Why this yawning gap? From my perspective, the cryptoverse, and particularly the cryptographic magic embedded in the blockchain, represents one of the most profound advances in technology since the internet and smartphone.
Perhaps the wizards who built the first blockchain, Satoshi Nakamoto and his colleagues, were simply poor at communicating how big this idea is. But the nine-page white paper written by him is articulate and convincing and concise. As have been numerous others since, especially Ethereum’s Vitalik Buterin and his widely read posts which often venture into the territories of society and creativity and economy and the value of public goods.
The PC was easy to explain, even though most people thought it was a hobby for nerds at first. The internet was easy to explain, although most people thought that they would have little use for it. The smartphone was easy to explain, although most people did not foresee it becoming so central to our lives that we now spend hours per day doing one of many things presented on its screen.But the blockchain is simply not that easy to explain.
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