Here the main reasons why I want to work in crypto & blockchain:
The financial system is broken
Many of us feel that the current financial system is broken, which mainly rewards the Cantillionaires (those closest to the money spigots), increasing state powers while also increasing wealth inequality. As just one example in the Post-Covid era, the share of the richest, wealthiest members of society has increased again.
The current financial system also empowers governments to take on unsustainable debts, to conduct wars without parliamentary approval. We need a new level of transparency for governments & government officials (e.g. 100% transparent spending on blockchain) while allowing privacy for citizens (e.g. via Zk-proof technology).
As technologists we have a moral responsibility to try to build a more fair, open system with similar opportunities for any-one, anywhere.
To bring about abundance, money should not be abundant
The inflationary, debt driven financial system based on Keynesian theories, drastically influences human behavior and consumption patterns that lead to overconsumption and waste. In a world with finite resources that needs to be sustainable for our kids and grand-kids, I believe a deflationary currency could work better as a coordination and incentive mechanism. As an example of the greatest progress in real GDP growth – 5% annually – happened in the 1870s, 1880 when the US was on the classical gold standard. This period saw railways, telegraphs etc invented, rolled out with increasing living standards all around.
When we build products so that they last a long time, when we can save in one medium and be sure that it will keep its value in real terms, then we’ll have done more for humanity, for the world than anyone thought possible.
The opportunities and use cases are vast
I believe as the Bankless boys that “one of the best things for Ethereum is to be understood”, and that the task, opportunity in communicating a compelling crypto vision is huge. There are so many use cases of crypto/ blockchain to build, to deliver new products and services that I’m excited to see, and want to participate in building. Use cases I’m excited about include:
- The DeFi matrix – world where any-one can trade/ borrow / hedge – in a humongous DeFi matrix 24/7/365 – any asset (real world or digital) versus another.
- Real-time, secure logistics – where products and services can be tracked in real time, by the right participants – reducing bottlenecks and costs.
- Actual, fair privacy – where by default private citizens can transact privately and securely. However IF a government body shows sufficient proof/ probable cause (e.g approved by a judge) then those transactions can be decrypted.
Conclusion
I’ve worked in the space before in a product management role, I’m a longtime enthusiast, and I want to participate again. I’m leaving out many details here, but the problem surface area is huge, so any improvement here will affect humanity in a significant way, and I want to be part of making that happen.