Transcript
Introduction
Patrick
In episodes one and two of Hash Power, we explored blocking technology and cryptocurrency investing. In this episode, we discussed the current and potential future states of the crypto world. We cover new forms of cooperation, regulation, security and storage and why blockchains allow systems to evolve at such a rapid pace. Be sure to listen until the end where we close with some advice about conducting ourselves in a new world where creativity reigns and repetitive jobs disappear, a trend that may only accelerate thanks to blockchain technologies and cryptocurrencies.
Patrick
As I said in the first two episodes of Hash Power, nothing that you hear in this episode is investment advice. If you plan on deploying capital into crypto assets, you should spend months reading and exploring the topic first and consider the risks carefully. This past Thursday, as a result of this deep dive into cryptocurrencies, I had the chance to sit and have dinner with a group of investors and engineers who are leading blockchain development. This movement sometimes inspires an almost religious fervor in its supporters, and while I could sense passion in the discussion, what I noticed most was how deeply each and every person there had thought through the potential issues facing blockchain in the future. No one there had any doubt that the impact of this new technology will prove immense, but I was impressed with the realism and pragmatism on display. There were lively back-and-forth debates about complicated topics like blockchain governance, developer compensation, emergent technologies, and the velocity of cryptocurrencies and how it might affect their value. This movement is full of brilliant engineers, cryptographers, investors, economists and thinkers, but if what I saw Thursday was any indication, it's also filled with new leaders. I've been blown away by the people you've heard so far in Hash Power and by those you'll hear from for the first time today. We hinted at how innovation in blockchain may happen faster than elsewhere. This is because of two phenomena, funding and forking.