With cryptocurrency, we are basically duplicating what we already have. We are taking the existing financial system and looking to recreate it in a decentralized way.
This is how we often do things with technology. We have reference points that we point to. Thus, the personal computer was really a glorified word processor. Few could imagine what the computer would truly become.
In this video I discuss how we need to get away from what we know when it comes to cryptocurrency. This technology is amazing and we have not even begun to experiment with it. How about programming tokens to be tied to other ones? What about tokens where upon receipt, a portion is routed to savings and investment as coded into the token?
The possibilities are truly amazing.
▶️ 3Speak
i think it like a constant evolution/revolution! We keep on finding, discovering and creating new stuff and then implementing the current core systems that we have. That way we try to make our lives easier and free. We keep on doing that since forever! At the process of doing so we learn new stuff, good and bad practises and at the end of the day we keep on evolving! That's what cryptos are in my mind, a stepping stone of our evolution/revolution of and easier yet free life
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That is the path of technology. It keeps moving forward, never stops. That is what allows humanity to move forward. It is the technology we develop that makes our lives better. Whether it is the shovel, fire, or personal computer, all help humanity to progress.
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Potentially, the concept of cryptocurrency has many meanings that we are somewhat unaware of.
The meaning that is most used is gain which in reality could only be the consequence of the project behind a cryptocurrency.
If we detach ourselves a little from this fixed thought of making money and spend more time understanding the projects, the crypto market would be a better place
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Or at least use cases and forms that we are unaware of at this moment.
With a lot of experimentation we will uncover a great deal.
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Wow!!😱 Really... Programing tokens to be tide to other ones? Never hard about that though it sounds very interesting. Indeed one can't imagin all the possibilities of cryotocurrency.
Tanks for sharing🙏
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Yeah that was just a thought. I am sure people can come up with hundreds of others. We are now only beginning to see the possibilities.
What will things look like in 4 or 5 years? That is where innovation and development come in.
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Interesting view on cryptocurrencies that forces us to just think of what we don't know. This will generate innovation, rather than replacing current traditional system even if also that is a need. I think that in the end all will glue up and new things will come up from the real practices.
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I like the idea of programmable money and the analogy with selling a token and the actions being automatically being triggered by that sell process.
I see this working quite similar with future full autonomous cars that would drive different persons wherever they need, redistribute funds to insurance companies and repair shops, automatically pay for taxes and other related payments and also send the business owner his share.
That will be a hell of a business.
I would like to have programable rewarding system on LEO where I would asset some percentage of my rewards to be automatically staked, some to be instantly claimed with metamask so I can easily cash it out to fiat and some other percentage to be invested in LBI shares for example, or whatever comes in the future and becomes a good LEO investment.
Having everything working like this though would make life on earth quite boring. I wonder where from would we take our dopamine then?
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Yes a lot of possibilities when you think about it. We are only at the start of what is truly possible.
These are the things that we need to start thinking about because the technology is there. With smart contract, they can be programmed any way we want them.
The more ideas, the greater chance we will truly revolutionize money. This is truly the very early stages.
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Indeed. Although BTC is a ten years old asset and the blockchain tech the same, we're still making toddler's steps.
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That is a drawback to Bitcoin. It is not evolving. However, at the same time, that is an advantage because it does one thing very well: it is very secure.
For that reason, I think its place is cemented.
However, for other things to grow, we need to see that innovation come from elsewhere.
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Indeed, it has proved to be very secure. I guess that's why investor still consider it the best investing option.
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I think programable money would have been pretty cool as a kid. I think it would also be good for the joe six-pack dude that doesn't want to worry about what's going on in the future.
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I wrote this post in response to this post link
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Summary:
In this video, the speaker discusses the concept of reference points in technology, particularly in the context of blockchain and cryptocurrency. He emphasizes how initial technological advancements often mimic what is already known before evolving into something more innovative. Drawing parallels with the evolution of computers from basic word processing to complex capabilities like internet connectivity, the speaker urges the cryptocurrency community to think beyond replicating traditional financial systems. He suggests exploring new possibilities such as tokenization for broader access and programmable money for enhanced financial management. The speaker encourages innovation, creativity, and collaboration to unlock the full potential of blockchain technology.
Detailed Article:
The speaker delves into the concept of reference points in technology, highlighting how new innovations often mimic existing knowledge before evolving into something more advanced and profound. Drawing from the history of computers, he notes how the initial personal computer was viewed simply as a sophisticated typewriter, limited by the known functionality of the typewriter. However, as technology advanced, the vast capabilities of the computer, such as internet connectivity and cloud storage, surpassed initial expectations.
Transitioning to the realm of cryptocurrency and blockchain technology, the speaker critiques the current trend of replicating traditional financial systems in decentralized platforms. He introduces concepts like DeFi (Decentralized Finance) and programmable money, pointing out that the community's focus on mirroring existing financial structures limits the true potential of these technologies.
The speaker proposes innovative ideas to enhance the utility of cryptocurrencies, such as tokenizing access to services like restaurants. He suggests reshaping the concept of currency to enable unique functionalities like priority seating or tailored rewards through token ownership.
Moreover, he challenges the community to think beyond conventional financial norms and explore unconventional applications of blockchain technology. By advocating for creative thinking and experimentation, the speaker envisions a future where programmable money could revolutionize financial management, enabling automated savings and investments directly within the currency itself.
By encouraging open dialogue, idea sharing, and experimentation, the speaker emphasizes the need for collaborative innovation in the cryptocurrency space. He underscores the potential for blockchain technology to transcend its current limitations and revolutionize financial systems on a global scale. The call to break free from traditional reference points and embrace creative solutions highlights the speaker's vision for the future trajectory of cryptocurrency and blockchain technology.