Blockchains as Productivity Technology

I am attracted to blockchains and crypto not because of financial engineering and abstract notions of ownership.

I am attracted to blockchains and crypto because I see them as productivity technology.

I believe blockchains have the potential to eliminate the intermediaries and reduce the inefficiencies in our systems, enabling us to reallocate the capital currently bounded to intermediary value extraction towards direct value creation.

With demographic trends on the decline, financial liquidity compressed, and the threat of natural resource scarcity, I believe being diligent and intentional about capital allocation matters — and is necessary.

Smart contract blockchains enable programs of various types to self-execute based on objective conditions we can verify. Blockchains are powered by decentralised computing, and hence provide the security, neutrality, and trust insurance we need and expect.

I see blockchain smart contract code as the infrastructure for reliable automation, that when combined with AI, IoT, robotics, and intentional human guidance, can support economical growth and productivity gains for society on a global scale.

The prospect of migrating our systems to blockchains is a new world order optimised for value creation, and not value extraction.

No matter how disruptive the transition may be, the outcome is one worth pursuing and building for.

The implications are too important, and the opportunity is too large to ignore.

I hope we can explore it.