I appreciated Michael’s comments in this video about the state of blockchain technology and cryptocurrency and I agree.
As I’ve said here before and will keep saying, I think this is the most crucial decade for blockchain-based decentralization. We need to look forward, build models for currency that can be governed by the masses who own it. We need to work together to make crypto work. We’re just getting to the fighting stage. It’s all about trust. We need to build trust in decentralization. We need crypto to be more trustworthy than fiat. We have to do that while making crypto more usable and integrating it into our collective sense of fairness and justice. It’s going to be a lot of work. Fortunately there’s plenty of reward to go around.
I think one of the reasons Tezos ICO struck such a chord with the community is that they really focused on governance of the blockchain to maximize decentralization and participation. Ethereum is moving in this direction as well with Aragon and other related projects. Bitcoin is lacking in this regard and, as we have seen, is more vulnerable to dissension and hard forks that result in a new currency.