Why crypto is the most important innovation?
Crypto is a tool. Transhumanism is the goal.
Crypto (SSI, blockchains, torrents, TOR, L2 networks among other things) never was or will be a solution to the one specific vertical like finance, gaming or travel. Conversely, crypto is the solution for coordination problem in multi-party non-cooperative games. And since games represent majority of the human interactions (from choosing a film to watch with your wife to WWII, Israeli-Palestine conflict or global warming) — therefore, crypto is so widely applicable.
You cannot trust judgement of a single individual, nor you can trust a program written by a single individual. The difference is that the code which is open source, publicly auditable and ever evolving based on consensus rules will transcend the capacity of an individual, an organization and, given enough time, even “the best minds of my generation”.
- It’s (a globally) scalable coordination/mediation mechanism, unlike nation states that are bounded by their borders and politicians in charge
- It’s unbiased. Code has no preferences or incentives, whereas any political system trends towards corruption, bribery or other rent-seeking behavior.
- It’s efficient. All the public blockchains combined use 1/100,000 energy that’s needed to maintain USD.