What’s essential about the Blockchain?
What does it have going for it that makes it much more likely to succeed than fail?
What principles are it based on?
Bettina Warburg gives us a taste of these essential elements in her great TED Talk on “How the blockchain will radically transform the economy“.
If you can’t watch her short talk below (about 15 minutes), here’s the main idea:
There is a new technological institution that will fundamentally change how we exchange value, and it’s called the blockchain.
As a political scientist and blockchain researcher, Bettina is thinking about, and illuminating, the purpose of an institution, which, as she explains, is a tool to lower uncertainty.
And she believes (as do I) the Blockchain will eventually replace many of our current institutions because it converts a lot of our uncertainties into certainties.
So, in time, it will become the preferred institution for all of us to exchange value.