Steven Johnson has a terrific piece in New York Times Magazine called: Beyond the Bitcoin Bubble. Here is a snippet:

The only blockchain project that has crossed over into mainstream recognition so far is Bitcoin, which is in the middle of a speculative bubble that makes the 1990s internet I.P.O. frenzy look like a neighborhood garage sale. 

But the point of the article, as its title suggests, is to talk about what all of this craziness could mean for the future of the internet and how, in some ways, it could be a return to what the internet was always intended to be.

The real promise of these new technologies, many of their evangelists believe, lies not in displacing our currencies but in replacing much of what we now think of as the internet, while at the same time returning the online world to a more decentralized and egalitarian system. If you believe the evangelists, the blockchain is the future. But it is also a way of getting back to the internet’s roots.

Some are calling this new, decentralized internet version 3.0. We are currently living with internet 2.0. Practically speaking though, what could this shift really mean for us?

One example that is given in the article has to do with urban mobility – a topic that is particularly relevant to this audience. 

Internet 2.0 has created a winner-take-most economic model. And in the case of mobility – at least in the world of apps – that winner is Uber. But with internet 3.0 and the blockchain, this could be possible:

Just as GPS gave us a way of discovering and sharing our location, this new protocol would define a simple request: I am here and would like to go there. A distributed ledger might record all its users’ past trips, credit cards, favorite locations — all the metadata that services like Uber or Amazon use to encourage lock-in. Call it, for the sake of argument, the Transit protocol. The standards for sending a Transit request out onto the internet would be entirely open; anyone who wanted to build an app to respond to that request would be free to do so. Cities could build Transit apps that allowed taxi drivers to field requests. But so could bike-share collectives, or rickshaw drivers.

I don’t know about you, but I find this perspective a lot more interesting. I recommend you read Steven’s article. It will help you cut through a lot of the Bitcoin noise.

I am still catching up on reading after being mostly offline last week, minus short windows where I would go online to upload these daily blog posts.

Here is a post that Fred Wilson wrote on new year’s eve about “what happened in 2017.” It has become a tradition of his to write a “what happened” post on the last day of the year and a “what is going to happen” post on the first day of the new year. He then uses these posts to keep track of how well he does on his predictions for the year.

His three headlines for 2017 were: (1) crypto; (2) the beginning of the end of white male dominance; and (3) the tech backlash (i.e. tech is the new Wall Street). It is worth a read. Crypto was an obvious one, but he has been writing about it – and investing in the space – for years. Of particular interest in this post is how he positions it as the basis for Internet 3.0 (the decentralized internet).

What is also clear from the post is just how ingrained tech has become in our everyday lives and how much it reaches beyond simply the tech industry. I have been saying this for years, which is why I spend a lot of time writing about it on this blog.

Steven Johnson has a terrific piece in New York Times Magazine called: Beyond the Bitcoin Bubble. Here is a snippet:

The only blockchain project that has crossed over into mainstream recognition so far is Bitcoin, which is in the middle of a speculative bubble that makes the 1990s internet I.P.O. frenzy look like a neighborhood garage sale. 

But the point of the article, as its title suggests, is to talk about what all of this craziness could mean for the future of the internet and how, in some ways, it could be a return to what the internet was always intended to be.

The real promise of these new technologies, many of their evangelists believe, lies not in displacing our currencies but in replacing much of what we now think of as the internet, while at the same time returning the online world to a more decentralized and egalitarian system. If you believe the evangelists, the blockchain is the future. But it is also a way of getting back to the internet’s roots.

Some are calling this new, decentralized internet version 3.0. We are currently living with internet 2.0. Practically speaking though, what could this shift really mean for us?

One example that is given in the article has to do with urban mobility – a topic that is particularly relevant to this audience. 

Internet 2.0 has created a winner-take-most economic model. And in the case of mobility – at least in the world of apps – that winner is Uber. But with internet 3.0 and the blockchain, this could be possible:

Just as GPS gave us a way of discovering and sharing our location, this new protocol would define a simple request: I am here and would like to go there. A distributed ledger might record all its users’ past trips, credit cards, favorite locations — all the metadata that services like Uber or Amazon use to encourage lock-in. Call it, for the sake of argument, the Transit protocol. The standards for sending a Transit request out onto the internet would be entirely open; anyone who wanted to build an app to respond to that request would be free to do so. Cities could build Transit apps that allowed taxi drivers to field requests. But so could bike-share collectives, or rickshaw drivers.

I don’t know about you, but I find this perspective a lot more interesting. I recommend you read Steven’s article. It will help you cut through a lot of the Bitcoin noise.

I am still catching up on reading after being mostly offline last week, minus short windows where I would go online to upload these daily blog posts.

Here is a post that Fred Wilson wrote on new year’s eve about “what happened in 2017.” It has become a tradition of his to write a “what happened” post on the last day of the year and a “what is going to happen” post on the first day of the new year. He then uses these posts to keep track of how well he does on his predictions for the year.

His three headlines for 2017 were: (1) crypto; (2) the beginning of the end of white male dominance; and (3) the tech backlash (i.e. tech is the new Wall Street). It is worth a read. Crypto was an obvious one, but he has been writing about it – and investing in the space – for years. Of particular interest in this post is how he positions it as the basis for Internet 3.0 (the decentralized internet).

What is also clear from the post is just how ingrained tech has become in our everyday lives and how much it reaches beyond simply the tech industry. I have been saying this for years, which is why I spend a lot of time writing about it on this blog.