I have no opinion on short-term price.
But this article is notable for another reason: one of the most important trends of the last year is the routine use of on-chain data as decentralized truth.
But this article is notable for another reason: one of the most important trends of the last year is the routine use of on-chain data as decentralized truth.
https://twitter.com/apompliano/status/1398256936961904640
Hard news is now on-chain.
It’s machine-readable, globally available, cryptographically verifiable, financially valuable.
As the cryptoeconomy grows, on-chain data & crypto oracles first disrupt Reuters, CNBC, Bloomberg as sources of financial information. Then all information.
It’s machine-readable, globally available, cryptographically verifiable, financially valuable.
As the cryptoeconomy grows, on-chain data & crypto oracles first disrupt Reuters, CNBC, Bloomberg as sources of financial information. Then all information.
Inflation stats may be the on-chain flippening for financial news.
Historically, countries like Argentina engaged in censorship to try to hide the true inflation numbers.
The data for your Bloomberg Terminal may be similarly debauched.
But on-chain data won’t be.
Historically, countries like Argentina engaged in censorship to try to hide the true inflation numbers.
The data for your Bloomberg Terminal may be similarly debauched.
But on-chain data won’t be.
Over the next decade, financiers and engineers will use on-chain data to an increasing extent.
Because it’s the input to every smart contract and the basis for every investment decision in the cryptoeconomy — which becomes an ever larger share of the global economy.
Because it’s the input to every smart contract and the basis for every investment decision in the cryptoeconomy — which becomes an ever larger share of the global economy.
This is the right angle of attack to fix our information supply chain.
Once every investor and engineer in the world understands on-chain data, and why cryptographic verification is preferable to mere corporate assertion, you’ve flipped a critical mass of global decisionmakers.
Once every investor and engineer in the world understands on-chain data, and why cryptographic verification is preferable to mere corporate assertion, you’ve flipped a critical mass of global decisionmakers.
Everyone isn’t an investor or engineer, of course. But if enough of them rely on public blockchains as the global source of truth, the truth they use to run their operations, then the innumerate will eventually follow.
That’s how we move to decentralized cryptographic truth.
That’s how we move to decentralized cryptographic truth.
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