Thread by @beniaminmincu

1/ Humanity *needs* (a) a high bandwidth, low latency financial system, (b) that is decentralized, and (c) accessible to anyone, anywhere.

This is a high impact, multi trillion dollar opportunity, able to dramatically improve ppls's lives across the world.

Thread for @elonmusk

2/ Blockchain technology is at an inflexion point. On the cusp of unlocking a massive societal improvement. Perhaps the biggest since the invention of the internet.

#bitcoin and crypto are just its first applications.

3/ The next 2-3 years will see the most rapid financial transformation - from traditional 40 years old slow, deprecated, legacy technology, to state of the art blockchains, enabling transactions at the speed and scale of the internet.

4/ Increasing the speed and bandwidth at which the global economy works, connecting the last 1.7 billion unbanked people, and providing new value creation tools on top, could actually enable the entire economy to grow by a factor of 10x - 100x.

5/ Elrond exists with the overarching goal of (a) creating the backbone for a high bandwidth, low latency financial system, (b) that is decentralized, and (c) extends access to anyone, anywhere across the world.

6/ If @elonmusk would start a finance startup today, it would be to fundamentally improve the financial infrastructure, making it digital, open to anyone, and decentralized.

So I guess he would start Elrond. Perhaps.

7/ Indeed, 20 years ago @elonmusk attempted to build precisely that with x.com & Paypal.

He understood that a h/ bandwidth, l/ latency, h/ security, l/ cost, heterogeneous network allows us to reimagine money & finance. Decentralization was not yet possible.

8/ Today, Elrond elegantly solves all the above.

@ElrondNetwork is perhaps the most high performance blockchain network in the world, enabling transaction processing at internet scale.



It is live, scales >100k TPS & is open source.
elrond.com/blog/its-time-…

9/ $EGLD is the native Elrond currency & probably one of the most useful forms of money.

Programmable, scarce & built on a high bandwidth, low latency network.

Given the above, it is most effective at moving value across space and time with least error and latency.

10/ @getMaiar is the ultimate financial interface.

Simple and intuitive. Opening digital & decentralized finance to anyone, anywhere in the world. Specifically built to onboard the next billion people.

Once one billion users are in, DeFi will become the default economy.

11/ To be clear, Elrond is complementary to #bitcoin and Ethereum.
Indeed, I think bitcoin will continue to exist, and will be a multi trillion dollar asset.
Ethereum will also reach a multi trillion dollar status.

Both deserve serious credit for their contributions.

12/ Going one step further, *I believe Elrond will be the wave that will lift all boats, expanding this space more than any other project.* Taking this massive opportunity from a niche group of people, and extending it to everyone in the world.

13/ What Bitcoin was to the Cypherpunks, and Ethereum to developers, Elrond will be to the simple internet user.

With only 100 million people in the crypto/blockchain space, Elrond will unlock a new market as it opens the flood gates to the next billion people.

14/ So what does this have to do with @elonmusk?

First, Elrond’s technology could immediately enable machine to machine transactions between self-driving Teslas.

Second, it could also be integrated with the Starlink internet, enabling a universally accessible financial system.

15/ Third, since X exists to ensure the progress and survival of humanity, Elrond could donate 3-5% of all $EGLD supply to X while also lending the Elrond technology, with the goal of accelerating the Mars colonization, and establishing a multi planetary financial ecosystem.

16/ Finally, the challenge to build a high bandwidth, near instant, inexpensive financial system, that is decentralized & accessible to anyone, is an necessity extending beyond one team.

Succeeding, would open a new growth phase for humanity, improving and saving many lives.

17/ Elrond is live. @getMaiar is launching in 2 days. We've just begun. These apps will open a new financial system to the world. Fast, globally accessible, and decentralized.

It’s time to build. It’s time to join efforts. And fight to create a future we really want to live in.