Blockchain ensures digital property.
Why @balajis.eth is ultra-bullish on crypto
Balaji Srinivasan:
«With social media, we’re still in the kind of communist era of social media. Where whatever you earn on social media, like Google takes its cut, Twitter 100, you’re nothing for all your tweets or anything like that.
You might get a little revenue share on TikTok or YouTube, you can do okay, right?
But not only you earn either nothing or a little bit, you have no digital property rights, even more fundamentally. You are at the just whim of a giant corporation can hit a button and everything you work for over years gone.
Okay, that is even if that is quote the current state of events the State of Affairs, rather that is not the right balance of power to be able to unperson somebody at the touch of a key and take away everything in their digital world. 3 replies
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They own the teeth in their head now, finally.
Okay, is it funny, right? You’re Lex Fridman, you own the keys on your computer, the bad part is, of course, they can get hacked or something like that. Then you can deal with that with social recovery there's rates of securing keys, but the good part is data, uh you actually have property rights in the Hernando de Soto sense, you have something you own, ownership, digital ownership it's the cloud is great but crypto gives you some of the functionality of the cloud while also having some of the functionality offline world where you have the keys so it's a V3.
You know it's a continuous theme, right? The V1 was offline, I've got a key, I own it, I have de facto control. V2 is the cloud, someone else manages it for me, it's hosted, I get collaboration.
So, on V3 is the chain where you combine aspects of those rights you have the global state of the cloud, but you have the local permission and controlling of the private key. 0 reply
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