It doesn't always make sense to have a token on the blockchain that is both useful and represents ownership - it has to be something where there's a network effect. That's why I cite Facebook as an example of what could be disrupted more so than, say, Amazon - which is bit more centralized and is not exactly a network of users in the same way.
t0 is blockchain-agnostic so, ultimately, we can use anybody's blockchain.
The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.
I think that governments are going to get disrupted by the blockchain. I think in the same way that the Internet forced everyone to evolve, the Blockchain is going to change the game again.
The ledger, the distributed database - it's called a Blockchain - is held in the cloud by all the parties involved. It can't be broken by any of them. It's cryptographically too strong. You would have to compromise the entire network to take over Bitcoin.
Blockchain assets derive value from their usefulness. Bitcoin has value because people value the payment network. BTC is required to use the network, so people demand it. If Bitcoin continues to be useful, it will continue to have value.
Study how to write smart contracts, which is the basic unit of programming a blockchain for business purposes. It is the equivalent of being taught HTML and Java during the early Internet days. And master how to create assets or tokenize existing ones on a blockchain.
I have no problem with the financial industry inviting the Trojan Horse of blockchain technology into their walled garden. Because I know how powerful the technology is.
Just like paying a toll to use a freeway, the token can be the pay-per-use rail for getting on the blockchain infrastructure or for using the product. This also ensures that users have skin in the game.
Scalability is this idea of coming up with a blockchain that can scale much larger than existing chains essentially by processing transactions in parallel. And moving away from this paradigm where every single node on the network has to process every single transaction.
Blockchain technology isn't just a more efficient way to settle securities. It will fundamentally change market structures, and maybe even the architecture of the Internet itself.
There are very few fundamental shifts in global infrastructure that can happen in our life times. The financial infrastructure is one of them, and the Blockchain is changing the way we think about the transfer of value.
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.
The old question 'Is it in the database?' will be replaced by 'Is it on the blockchain?'
If blockchain technologies ignore the eventuality of standards, we are going to see less adoption. Maybe we should think of the blockchain as a public-good utility and encourage an evolution that is not unlike the Internet's in terms of openness and neutrality of access.
The Internet is programmable information. The blockchain is programmable scarcity.
Pretty uniformly, people want the benefits of bitcoin and the blockchain - near-instant transfers, globally available on any Internet-connected device, highly secure, and nearly-free value transfers.