Many great founders have one or more big failures on their track record. What makes them great is that they eventually succeed despite that. Balaji Srinivasan More Quotes by Balaji Srinivasan More Quotes From Balaji Srinivasan The Internet is programmable information. The blockchain is programmable scarcity. Balaji Srinivasan blockchain internet information Machine translation of signs, text, and speech brings down language barriers and facilitates ever more cross-cultural meetings of like minds. Balaji Srinivasan down meetings speech language Virtually every major technology has an initial spike of interest, then a dip, and then a long-term rise to success. The dot-com bubble is the canonical example, but there are many more. Balaji Srinivasan rise bubble technology success Tokenization applies to scarce assets. Today, the most appropriate thing to tokenize is something that's purely digital. Bitcoin and ethereum are the canonical. Balaji Srinivasan something bitcoin digital today By, say, 2025-2030, I expect that there will be multiple jurisdictions that allow the tokenization of virtually any scarce resource, all the way down to personal tokens. Balaji Srinivasan say down will way Anything scarce will ultimately be tokenized because the benefits of digitization and increased liquidity are so great. Balaji Srinivasan anything will because great There's a tiny number of Bitcoin wizards and an enormous number of smart developers that have no onramp to Bitcoin. We need to make that onramp easier. Balaji Srinivasan make need bitcoin smart I think tokenization eventually means everyone becomes an investor once all the regulatory issues are worked out - from your computer itself to a kid in India messing around with $10. Balaji Srinivasan everyone your think india Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21, we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol - and particularly in the industrial uses of bitcoin enabled by embedded mining. Balaji Srinivasan more rich financial purpose We believe the most significant long-term application of bitcoin may be reducing the upfront cost of internet-connected devices to make them more accessible for the developing world. Balaji Srinivasan more bitcoin believe world Conceptually, we believe that embedded mining will ultimately establish bitcoin as a fundamental system resource on par with CPU, bandwidth, hard drive space, and RAM. Balaji Srinivasan drive will space believe It used to be that you had to come to Silicon Valley, walk up Sand Hill Road, network with individuals. That's now being completely changed and turned on its head by the whole ICO thing. Balaji Srinivasan road walk hill you Bitcoin is a way to have programmable scarcity. The blockchain is the data structure that records the transfer of scarce objects. Balaji Srinivasan blockchain bitcoin data way There are downsides to implicitly trusting banks, as the 2008 financial crisis showed. Balaji Srinivasan financial-crisis crisis financial If you deal with information, you need the Internet. If you deal with money, you need to deal with blockchains. Balaji Srinivasan you internet information money Our nation of immigrants is, tautologically, a nation of emigrants. Balaji Srinivasan nation our immigrants The future of technology is not really location-based apps; it is about making location completely unimportant. Balaji Srinivasan about future location technology Mobile technology makes us ever more mobile, increasingly permitting not just easier movement around a home base but permanent international relocation. Balaji Srinivasan more technology permanent home Don't do a startup unless you're ideologically driven to make it succeed beyond the economic motivation. Balaji Srinivasan beyond you succeed motivation We need to build opt-in society, outside the U.S., run by technology. Balaji Srinivasan need run society technology
