I expect blockchains/distributed ledgers to have no impact until most economically significant people can hold a key, and access it easily with minimal transaction costs, and then I expect it to have a lot of impact. It’s a social technology, it’s useless until it reaches saturation.
And if you tell me there’s so much other value created
DLTs create verifiable information (or make it hundreds of times easier to create). The value of information generally is not captured by its creators.
Related note: The printing press existed in asia for a thousand years while having minimal cultural impact. When and whether the value of an information technology manifests is contingent on a lot of other factors.
I expect blockchains/distributed ledgers to have no impact until most economically significant people can hold a key, and access it easily with minimal transaction costs, and then I expect it to have a lot of impact. It’s a social technology, it’s useless until it reaches saturation.
DLTs create verifiable information (or make it hundreds of times easier to create). The value of information generally is not captured by its creators.
Related note: The printing press existed in asia for a thousand years while having minimal cultural impact. When and whether the value of an information technology manifests is contingent on a lot of other factors.