Chris Dixon - The Potential of Blockchain Technology

Fundamentally, what a blockchain lets you do is it lets you write code that can make strong commitments about how it will behave in the future. To give you an example, the most obvious one is Bitcoin ... There will only ever be 21 million bitcoins. That property of saying there's only going to be 21 million is guaranteed by the blockchain. It is not guaranteed by the creators of Bitcoin. It's not guaranteed by the developers of Bitcoin, by Satoshi Nakamoto. It's guaranteed by the very network architecture.

I think the social token concept, it's very early right now, but I think, I believe, if you ask me 'What's the next thing that could really get big in crypto?' — I think that would be high on my list, the way that NFTs were high on my list before and now have gotten big.

The Internet is the ultimate viral distribution machine. If you lock up your stuff, you don't get to take advantage of that. The right business model on the Internet is to find some balance between abundance and scarcity.

I would argue that Bitcoin has worked well as a store of value in the sense that there are more and more people in the world that believe in it as a store of value, it has performed well a store of value... That's the good side of Bitcoin. I think Bitcoin has not lived up to some expectations in terms of payment mechanism.