Put another way, no one will believe your self-reported membership in group X, because (a) anyone will be able to deepfake their way into realistically appearing as a member of group X and (b) a real member of group X might not want to reveal themselves.
No scarcity of identity.
There are a few possible outcomes.
1) Full pseudonymity. Everyone works remote as whatever avatar they want to be & you aren’t supposed to ask who they “really” are.
2) Proof-of-X becomes standard for online status. Could be crypto, could be vaccines or even genes like 23andMe.
“Blockchain and AI will end identity politics & cancel culture” is the caricatured version.
And that *does* sound buzzwordy...but when identities can be deepfaked and cryptocurrencies can’t be, the entire social media environment of the 2010s will seem like a quaint relic.
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The thing people don't get is: due to rapid growth, a surprising number of people suddenly have >50% of their net worth in crypto.
Many personal flippenings have thus already happened.
And crypto exchanges have all the deposits, so will replace legacy banks.
Unlike today’s banks, but like older banks, you can withdraw all your digital cash from a crypto exchange — and this is good practice.
However, keeping a “checking account” there to do international wires in USDC to other exchanges, or other financial services is reasonable.
It’s a technical problem, but there are various ways to combine fully user-controlled wallets with centralized liquidity & order books. Many are working on this.
This would address the (valid) not-your-keys, not-your-coins argument. And shift exchanges to a hub-and-spoke model.
I spoke about this in 2013 and the tech keeps improving. Combine Double Robotics for telepresence, Boston Dynamics for humanoid robots, and Oculus Quest 2 for VR input/output.
The individual technologies for robotic telepresence exist.
Regarding latency, which is an issue for long distances, a few things:
1) Unless you’re making sudden unpredictable movements — not common in business travel — the onboard autonomy should be able to handle it.
2) Ideas from video-game-style lag compensation may also be helpful.
VC funds that still can’t buy crypto in 2021 are sacrificing their returns in 2031.
I’m really surprised at how many professional tech investors *still* don’t get crypto, even as a $2T industry, even after 10 years of growth, even with BTC alone more valuable than every unicorn over the last decade combined.
It feels like a generational shift from internet to crypto, just like the desktop to internet shift happened ~20 years ago.
A fundamental backend and cultural change to how software is developed, funded, monetized, and used.
Now that you can raise $5M/year online, the new strategy for any founder may be to (a) set up an equity crowdfunding link, (b) get a few brand name angels, and (c) tweet it out and have them RT.
The concept of users/customers as investors directly overlaps with crypto as well. See this post from 2017. news.earn.com/thoughts-on-to…
Every part of the angel/VC pipeline is being disrupted by online tools.
Angellist: raise rolling fund online Republic.co: raise equity online
Carta: put cap table online
Token sales: fund your protocol online
USDC: send wires online
Twitter: build relationship online
Just like you go long on companies & cryptos by buying their stock or token, so too will you be able to go long on new cities & countries by buying *their* token.