Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Coinbase CTO on Bitcoin and Crypto: Blockchain Is a ‘Transnational, Algorithmic Regulator’

by Daily Hodl Staff
September 18, 2018
in Blockchain

Balaji Srinivasan, chief technology officer at Coinbase, calls the blockchain “a transnational, algorithmic regulator.”

Speaking at the Fintech Unbound conference hosted by the Cato Institute, Srinivasan illustrates how profound the societal transformation will be once power is shifted away from centralized organizations to distributed ledgers.

But first, he asks, “Who thinks that our financial system can be improved upon? Or is it just perfect?”

Imagining an entirely new digital economy is abstract and often technical, but Srinivasan, an electrical and chemical engineer who co-founded Counsyl, one of the largest clinical genome centers in the world, breaks down the algorithmic regulator.

“A lot of people in technology believe that blockchain is the most important development since the internet. And that’s a big statement. And why do folks think that? The reason is that once you’ve figured out how to make a database of all the money in the world, such that it would cost you more than a million dollars to have an entry that represents a million dollars, you can represent any kind of scarce thing.

You can represent not just money but stocks and bonds and commodities and mortgages, loans, derivatives. And even things that we would normally think of as scarce or valuable, like your potions in a video game. All these things can now be represented as ledger entries. In the same way that the internet was programmable, we think of the blockchain as programmable scarcity. Everything that was information, whether music, movies, books, newspapers, got packatized and digitized and transferred over the internet. You can now copy/paste it. You could index it for search engines. You could paste in a link and remix it.

And in the same way, everything that’s scarce is becoming blockchain based. So every stock, every bond, every loan, every mortgage. This is a pretty big deal. While I’m talking about blockchain, I just want to be clear that I and we do think that Bitcoin isn’t going away. It’s the first and continues to be the most important application of the blockchain concept. I’m very much in the camp of blockchain and Bitcoin.”

[the_ad id="42537"] [the_ad id="42536"]

Srinivasan, who says Bitcoin is a better gold, maps out the scope of the market and lists the types of assets that will end up on the blockchain once entire industries become programmable.

“One thing I predict is that in about 20 years, everybody here will have about 50% of your net worth in blockchain-denominated assets. That is to say, your mortgage and your loans and your stocks – all those things will either be based on blockchain-based technologies or blockchain-inspired technologies for representing scarcity.” 

 
Check Latest News Headlines


 
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Cantina Royale Taps Elrond Apes To Boost Its In-Game Cross Chain NFT Collections
    June 28, 2022
  • Saddle Finance Announces End of Lock-Up Period for Its SDL Token
    June 24, 2022
  • NFTs Accessible to All With Launch of Fiat-Focused SIMBA Market
    June 23, 2022
  • Korea Blockchain Week To Hold First Live Event in Seoul After Covid Hiatus
    June 23, 2022
  • CoinLoan Partners With Elliptic To Provide Crypto Users With Top-Notch Security
    June 22, 2022
  • Gate.io – The Crypto Winter Is a Good Time To Accelerate Web 3.0
    June 21, 2022
  • How the Earliest Soulbound Use Case Creates Real Web 3.0 Heroes
    June 21, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$19,429.81
$19,429.81
3.25%
Ethereum
$1,058.56
$1,058.56
6.3%
Cardano
$0.451734
$0.451734
3.73%
XRP
$0.318929
$0.318929
3.5%
Dogecoin
$0.065165
$0.065165
0.57%

Spotlight

  • Analyst Who Predicted Bitcoin Crash Far in Advance Forecasts Imminent Crypto Market Shift
    June 23, 2022
  • SEC Chair Gary Gensler Proposes ‘One Rule Book’ for Regulation of All Crypto Asset Trading: Report
    June 26, 2022
  • Ripple Launches Innovation Challenge for CBDC Solutions on the XRP Ledger
    June 29, 2022
  • Cardano (ADA) Founder Charles Hoskinson Says Bear Market Makes Crypto Industry Collaboration Easier – Here’s Why
    June 24, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl