| You know, my first foray into the world of Big Corpo people was when I met this guy studying at <pretentious arts uni in London>. He was looking for ways to use blockchain to help regions with unstable currencies. Well, he was doing his Ph.D, actually on that topic. So he would approach people and suggest they all meet up and have this think-tank somewhere in North London. Now imagine you've got about 20-30 people sitting in the same room: and they are all engineers, regional managers, financiers. Not a single person has _any_ idea what blockchain is. They were all meeting weekly to have this hours-long discussion about how they could possibly apply this thing blockchain to solving issues in the third world countries. > There were many attempts to create virtual money which cannot be shit down, and all of them dated before Bitcoin failed due to government intervention. Bitcoin solved that, and the simplest solution was the wasteful proof of work. One of his ideas was to create virtual money. But they forget that _secure_ proof-of-work-based money would require the same amount of initial investment (mining hardware) as if you simply went and bought several tons of gold and then issued a currency supported by that gold. |