Today, a16z announced a new USD 2. Meanwhile, in a recent interview with economic blogger Noah Smith, Andreessen compared the topic of crypto with the parable of the blind men and the elephant, allowing people to interpret many different parts in many different ways, or use it to make their point.
That architectural shift is called distributed consensus — the ability for many untrusted participants in a network to establish consistency and trust. While money is the easiest application of this idea, other things that can now be built in theory include Internet native Crypto Investing 2021, loans, insurance, title to real-world assets, unique digital goods aka non-fungible tokens NFTsand online corporate structures such as digital autonomous organizations DAOsamong others, the investor said.
This also presents a great impact on and shift in incentives — which further impacts reaching these applications.
He also discussed the idea that AI is somewhat a left-wing idea, having centralized machines making top-down decisions, but that crypto is a right-wing idea, having many distributed agents, humans and bots, making bottom-up decisions, he said, citing another prominent venture capitalist Peter Thiel, co-founder of PayPal. If you believe, as I do, that the world needs far more technology, this is a very powerful idea, a step function increase in what the technology world can do.