metamitya
metamitya
Vitalik: I got into the blockchain industry six years ago. I went to the internet, mined 20 bitcoins, and used 8.5 of them to buy a shirt. Now those bitcoins are worth $20,000 and I lost the shirt somehwhere on a train to London.
8:37 7s
06/05/17
SORT
VOTES
CREATED
metamitya
METAMITYA
1
12:23 7
Vitalik: two years ago I would have said we haven't crossed the rubicon, and now I would say we are in the middle of crossing it. Right now we at the stage where people are starting to understand that this isn't just a toy for computer hackers, but that there is a large amount of people who are actively thinking about what is possible to do, but not just thinking about it but actually doing it. Last year there were lots of experiments about how to create your own cryptocurrency or how to create a platform for digital identity, right now several of these experiments are becoming reality.
metamitya
METAMITYA
1
11:23 7
Vitalik: there are still 2 main categories of problems left to solve. One category is technology problems like scale, confidentiality, security, so that hundreds of millions of ordinary people can derive usefulness from this technology without big risk.
metamitya
METAMITYA
1
10:21 7
Vitalik: I would say that the thing that made the biggest impression on me is that even when I came up with the Ethereum idea I was only considering only a few financial use-cases like money, like contracts, and things like the de-centralization of DNS, but then the community arrived and people all over the world started coming up with: this is what else is possible with the blockchain <can't make out some examples>. All this creativity and innovation is much more than I would have said was possible two or three years ago.
metamitya
METAMITYA
1
9:35 7
Vitalik: What I understood is that the usage of blockchains for cryptocurrency is only the first use-case. It's an important use-case, but there are much greater use-cases for small companies, big companies, governments all over the world which can derive great advantage from this technology. From this premise I began to work on Ethereum.
metamitya
METAMITYA
0
12:07 7
Host: Do you believe we've crossed the rubicon when we can definitively say that blockchain will seize more and more from incumbents and will become a foundation for the future?
metamitya
METAMITYA
0
11:42 7
Vitalik: The second category of problems is just that people, as users, programmers, as companies, as regulators, academics, that everyone understood what is this technology, what are the principles of this technology, how these principles can be used to gain an advantage from them.
metamitya
METAMITYA
0
10:04 7
Vitalik: The idea was to create a blockchain platform which was much more general, and didn't only have one use case but was created so that the blockchain could understand code and everything you want to do you can program and the blockchain can process and understand.
metamitya
METAMITYA
0
9:17 7
This idea that this community can by themselves create a new financial system on their computers made a big impression on me. The ideas of decentralization, cryptography, openness, transparency, these principles really appealed to me.
metamitya
METAMITYA
0
9:00 7
Vitalik: What I understood with this experiment was that everything that happened, the processes, occurred on an economic circuit which existed only because of the work myself and thousands of others on their home computers around the world.
metamitya
METAMITYA
0
8:37 7
Vitalik: I got into the blockchain industry six years ago. I went to the internet, mined 20 bitcoins, and used 8.5 of them to buy a shirt. Now those bitcoins are worth $20,000 and I lost the shirt somehwhere on a train to London.
metamitya
METAMITYA
0
8:25 7
Host: when you were planting the blockchain idea, what you planted and what exists now, is there a big difference? Was the birth successful? Or did something go wrong?
metamitya
METAMITYA
0
8:07 7
Host: First person I want to give a word to is Vitalik Buterin the founder of Ethereum a company which has achieved crazy capitalization outpacing Twitter and actively outpacing many Russian companies.