Balaji Srinivasan: Applications: Today & 2025

Video

1. A DB for storing things of value

2. A protocol

Payments are now packets. Fully packet-driven transmission of value without reference to a bank. Once we invented ways of sending videos, songs, etc. over the wire we got the internet revolution

3. A protocol

Internet allowed programs to autonomously communicate. Blockchain allows them to autonomously transact. Fundemental for “intelligent agents”.

4. 10X

This is truly a structural change that hasn’t fully rippled out yet.

5. Have created many billion dollar entities

6. You have a choice of who to trust

7. Enable internet-scale cap tables

8. More is coming

9. Breaks network effects

You have a new tool to issue value to customers early, like giving equity out, to fight the uphill battle of starting a network.

10. Transform social networks

Before: likes, pokes, messages; After: paid DMs, surveys, tasks - “bullish on this”

11. Partial move away from cloud to privacy

12. Blockchains make macroeconomics an experimental science

People can self-govern with these different economic experiments. Akin to the “lab of the states” (where different US states experiment with different laws/policies).

Applications: 2020

Applications: 2025

Things that might be big by 2025