A Quote by Balaji Srinivasan
Tokenization applies to scarce assets. Today, the most appropriate thing to tokenize is something that's purely digital. Bitcoin and ethereum are the canonical.
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Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens or digital assets, and those include assets that people are familiar with, like bitcoin and ethereum, as well as very early-stage projects.
Make no mistake - Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.
In 2017, people have realized there isn't going to be one crypto to rule them all. You're seeing vertical solutions where XRP is focused on payment problems, Ethereum is focused on smart contracts, and increasingly, bitcoin is a store of value. Those aren't competitive. In fact, I want bitcoin and Ethereum to be successful.
There is nothing that Bitcoin can do which Ethereum can't. While Ethereum is less battle-tested, it is moving faster, has better leadership, and has more developer mindshare.
Digital assets, including bitcoin, could save small businesses substantial transaction fees and provide an added layer of security to their payment processing.
Polychain manages a hedge fund that invests exclusively in digital assets. We invest exclusively in protocols, not companies, and we do this by investing in things made scarce through the blockchain.
The thing that I often ask startups on top of Ethereum is, 'Can you please tell me why using the Ethereum blockchain is better than using Excel?' And if they can come up with a good answer, that's when you know you've got something really interesting.
Ethereum may make monetary policy decisions like, 'Let's do 1% inflation to support the ongoing development of the Ethereum protocol.' A token built on Ethereum might want to do the same.
I love this stuff - bitcoin, ethereum, blockchain technology - and what the future holds.
By, say, 2025-2030, I expect that there will be multiple jurisdictions that allow the tokenization of virtually any scarce resource, all the way down to personal tokens.
Bitcoin as a globally distributed public ledger - that's the thing I'm most excited about going forward. Thinking about how to use Bitcoin in new and innovative ways. In the meantime, we have the boring uses of Bitcoin that are in the process of going mainstream.
I generally support just about every secession attempt that comes along. If, in the future, there is that kind of a dispute in Ethereum, I'd definitely be quite happy to see Ethereum A go in one direction and Ethereum B go the other.
The flight of most members of a profession to the high empyrean, where they can work peacefully on purely scientific problems, isolated from the turmoil of real life, was perhaps quite appropriate at an earlier stage of science; but in today's world it is a luxury we cannot afford.
Ethereum has taken what was a four-function calculator of a programming language in Bitcoin and turned it into a full-fledged computer.
Human beings find change very difficult. They find change is something that can be quite an awkward thing to adjust to. It applies to music. It applies to life. It applies to everything.
Bitcoin and digital currency is just this thing that was always going to happen.
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