The Potential of Blockchain Technology

-Has not lived up to expectations as a pmt mechanism. Fees and vol are obstacles

-BTC worked well as store of value in the sense that there's more and more people that accept it as such. Data supports that it is being used in countries with unstable currencies

What is DeFi all about? Modernizing, disintermediating (banks etc.), reducing layers of fees in the middle. Transparency. This is a big misconception. People think it's opaque and used for criminal activity. Everything in blockchains is open...

-This is part of what makes early internet innovation so rapid- it was built on open protocols that devs knew wouldnt change

A very hard unsolved problem, in fact, is how to make it private. The idea of using it for money laundering is absurd. It's the worst way to do it. Everything is public and exposed.

-Think of blockchains as a new kind of computer that enable new capabilities

-This is similar to the modern model of video games with microtransactions

-Who would have imagined Uber or TikTok in 08? Many innovations that will be around in blockchain in 10 years likely weren't even discussed on the pod and may not have surfaced yet

'-If you look at a lot of the issues people have with social networks, I would argue a lot of it comes from a mismatch between the nature of these networks and the legacy corporate structures that govern them.

-Tokens can be used as network currency. For donating, for buying things from the creator, etc. It can also be used for investment. If you think a band is going to blow up, maybe you buy their coin.