"Blockchain got recognized because of Bitcoin. It was a fundamental technology for Bitcoin.
It still here working after I don't know how many years it's been and it hasn't even changed. It's not owned or controlled by any company so we recognized we said blockchain now allows you to have no central control." - Woz
Everything's diversified and because everything has records that are duplicated of each other, it's totally trustable, there can't be any mistaken records in there.
Blockchain with things like Ethereum lead to API's. Ethereum can be used as a platform to develop other things in life such as real estate sales. They keep constant ledgers, the whole ledger history of things, you know that matter, that matter for real estate, sales by memory for minerals that are put into products. So if there are a lot of these astounding things that blockchain can do to change life.
It's like in the 2000's, we looked at the internet and said: "Look at all these things that could be done by the internet," that would really change our life someday and we'll really be on to it. All of the companies invested and then it went bust the only year that San Jose, California ever lost population was 2003.
Well look again now, 2018 everything we do in our life is improved by the internet, we have apps for everything so it eventually happens. Just that culture doesn't change to rapidly and I see blockchain as being the same sort of place right now might be a bubble, but it's on the right track.
Bitcoin set such an incredibly high standards. Bitcoin is there, nobody runs and owns it and it works so well and we think oh that would be the outcome of everything else. Bitcoin is limited to how many Bitcoins will be produced. Unlike real currency which governments can just create as much more as they ever want to. You know where we're getting down to something that's more realistic and defined by nature. Things defined by nature mean a lot more to me than things defined by human beings.
All of the blockchain things that are being down and being out there, they kind of come up with "Oh, new blockchain implementations that don't have necessarily the advantages Bitcoin had. You can't do it and have something that has a business model.
I love it when we come up with changes that would be so good to humanity and I follow it and I love reading an article not too long ago about Jack Dorsey, one of the founders of Twitter and Square, the FinTech company. And he was saying that oh, in 10 years everything was going to be done by digital currency, Bitcoin mainly.
September 19, 2018
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