The smart contracts of today are notoriously hard to write, often expensive to execute, and in many ways are a multi-billion-dollar science experiment. But that’s what makes them kind of interesting: they open up so many potential applications that people are going to have to actually try some of them in order to suss out what actually works. And that’s kind of exciting.
Of course, actually investing in any of these businesses at current valuations would be absurd – this stuff is hairy enough right now that the Apple or Amazon of smart contract platforms could be a decade out. And my personal specialty, building delightful product experiences, is probably best applied later in the tech cycle than “wait, what if this isn’t dumb?” But after a bit of time, maybe a lot of time, blockchain really might drive major changes in how some businesses function.
In the meantime though, I think it’s safe to kick back, eat a Laotian banana, and get back to enjoying blockchain for its entertainment value. Oh hey, it looks like the company most responsible for Bitcoin’s recent rally may just be a sham, and Facebook just banned cryptocurrency advertising. What a time to be alive! 🍿
Source: Chain of Fools – Allen Pike