The Value of Blockchain is NOT its price tag – Massimo Lomuscio
How this technology can bring us to a fairer future
How is value created?
I often wonder if our economic activity adds continuously new value or rather just takes it from someone else. If you make money it should always mean you are adding new value, and the market is rewarding you for this. Unfortunately this is not always the case, and very often it’s not clear.
In the days when the price of Bitcoin and Ethereum is falling, I am more excited than ever about the value of the underlying technology.
What excites me of a Blockchain-powered future is that humanity might have finally found a tool to create and distribute value in a way that is transparent, secure, and potentially fair.
As a user, transparent rules and certain execution will make you free.
You will be empowered to decide whether new systems are fair or not, and act consequently.
Use them if they create value for YOU. Use them if they distribute value fairly.
As a company, you can set up new mechanisms where all the contributors are fairly rewarded with a share of the pie.
Users, shareholders, stakeholders.
It’s meritocracy at its best, and that’s all entrepreneurs should ask for.
Who can deny this would not be a better World to live in?
The road to get there is long and winding, but there are small steps we can take to prove the technology is worthy. Here is one:
Blocksheep is a simple game that beautifully highlights the advantages of Blockchain.
- Imagine a black box that tells you: “YOU LOST”, and you cannot verify if it’s true. Any player would naturally be skeptical to play a game against other people without being able to know the other players’ moves. You should put an extremely high level of trust into the House as a guarantor of a fair game. Blockchain ensures that no trust is required to play. It can only be a fair game.
- In this game, the House is naturally incentivized to cheat to maximize its profits. Thanks to Blockchain, cheating is impossible — even for the game creators.
- The House doesn’t take a commission when you play. The House doesn’t take a fee when you win. The House takes the value that would have to be otherwise destroyed. Blockchain ensures this value is fairly distributed.
BlockSheep is so intuitive that everybody can give it a try, but only smarter players win. Are you ready?
Published at Thu, 07 Nov 2019 11:00:51 +0000
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