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Fred Ehrsam Quotes

American - Businessman | -

While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world.

World Think Blockchain Days Seem

When the Bitcoin white paper emerged in 2008, it was completely revolutionary. The amount of concepts that had to come together in just the right way - computer science, cryptography, and economic incentives - was astonishing.

Science Together White Way Right

Developer mindshare is the most important thing to have in digital currency.

Important Digital The Most Important

For the foreseeable future, I'm all about building blockchain-based decentralized services.

Future Building About Foreseeable

AIs are only as good as the data they are trained on. And while many of the tech giants working on AI, like Google and Facebook, have open-sourced some of their algorithms, they hold back most of their data.

Good Data Back Google Hold Facebook

OpenAI is doing important work by releasing tools which promote AI to be developed in the open. Compute power is largely produced by NVIDIA and Intel and still relatively expensive but openly purchasable. Blockchains may be the key final ingredient by providing massive pools of open training data.

Work Power Training Key Tools Data

Private funding was one of the first methods used when MIT funded Bitcoin core developers Gavin Andresen, Wladimir van der Laan, and Cory Fields in 2015.

First Fields Used Core Bitcoin MIT

Public crowdfunding still suffers from a tragedy of the commons problem. Everyone will want the benefit of the crowdfunded efforts but is incentivized to sit on the sidelines and hope others chip in.

Hope Problem Tragedy Want Will Sit

The self-driving car revolution was kicked off by The 'DARPA' Grand Challenge to make an autonomous car traverse 132 mi. of a desert.

Car Challenge Desert Revolution Off

Ethereum may make monetary policy decisions like, 'Let's do 1% inflation to support the ongoing development of the Ethereum protocol.' A token built on Ethereum might want to do the same.

Support Decisions Want Development

Tokens align incentives between developers, contributors, users, and investors. They allow everyone who wants to contribute to a project early the opportunity to get in on the ground floor.

Opportunity Early Project Everyone

I'd guess blockchains will be the full-blown backbone of virtual worlds - the system for currency, assets, identity, even governance - before doing the same in the 'real world.' Which is where I think we will end up in the real world eventually; it's just a matter of which goes first and how long until it's the case for both.

Identity World Think End Doing Long

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