Dennis Lewis, author of this year’s blockchain book of the year Behold the Cryptopreneurs shares his thoughts on smart contracts. Listen in below!
The Real World
You can’t transform the real world when you live in fantasyland.
We live in the real world, and for blockchain to succeed and reach its potential it must solve problems in the real world. Problems that affect normal people in the course of their normal lives.
We need to provide financial services to those who can’t get them now. We need to reduce costs for businesses that serve clients everywhere. We need to provide alternative sources of income and greater levels of efficiencies.
These are tangible problems that cause real pain.
Instead, we are largely focused on the color of the lint in our collective belly buttons. We fantasize about ever more sophisticated consensus algorithms, about sharding the blockchain, about distributed autonomous organizations and a whole other lot of technobabble.
Sure the technology is important. Of course, we need to improve transaction throughput. Without a doubt, making smart contracts more accessible has enormous potential to transform business. But the technology is only one small piece of the puzzle.
We cannot let the engineers run wild.
Right now the entire industry is focused on the next shiny tech innovation or riding the growth of the next speculative bubble before it bursts. Neither is healthy. And neither is working.