I’ll admit that I’m still trying to really understand blockchain and tokens. I can see elements of potential, but I think everyone would agree that we’re still very early in the development of blockchain and tokens. I’ll avoid comparison to the early internet days, but no doubt there’s a lot to be learned from those comparisons.
A VC blogger I read who invests in the blockchain space shared this really great presentation on cryptotokens and a look at the various players in a blockchain community. If you’re trying to understand blockchain and tokens in particular, read the following presentation in full screen mode and you’ll have a better understanding of it.
No doubt this cryptotoken presentation was skewed towards how regulators should approach regulating the space. However, it helped me understand some of the ways tokens are used in blockchain. Do I understand it fully? Not yet, but this is getting me closer.
What’s not clear to me is how much we will really need to know to benefit from blockchain. It seems to me like the answer is not much. When I use Amazon I don’t need to know what database they use or what programming language their website uses. The same is true for a laptop. I don’t really need to know the details of how an Intel processor works, but I do like to see the Intel Inside sticker on the outside and some of the specs.
I have a feeling blockchain will evolve to be something similar. A few very technical people will need to know more about the details and they’ll build the infrastructure. However, most people will just use a service and not know any of the technical details. However, if blockchain is successful, then people will want to choose a service that’s built on blockchain because of some of the characteristics that make it better than one centralized system. We’re certainly not there yet in healthcare.