Decentralized Systems Quotes

Distributed technology does not necessarily lead to distributed economics.

A lot of the foundational philosophical approaches of tech leaders are actually all about decentralization of power.

The revolution of blockchain is not going to happen from outside the system; it's going to happen from within the system.

Blockchain is really exciting technology because it's actually providing both transparency but also agility in a contractual relationship that any organization should have.

Nature is pretty good at networks, self-organizing systems. By contrast, social systems are top-down and hierarchical, from which we draw the basic assumption that organization and order can only come from centralism.

Regarding social order, [Francis] Fukuyama writes, "The systematic study of how order, and thus social capital, can emerge in spontaneous and decentralized fashion is one of the most important intellectual developments of the late twentieth century." He correctly attributes the modern origins of this argument to F. A. Hayek, whose pioneering contributions to cognitive science, the study of cultural evolution, and the dynamics of social change put him in the forefront of the most creative scholars of the 20th century.

The fundamentals of the token model are valuable and powerful. They allow communities to govern themselves, their economics, and rally a community in powerful ways that will allow open systems to flourish in a way that was previously impossible.

Gradually, decentralized trust will be accepted as a new and effective trust model. We have seen this evolution of understanding before - on the Internet.

The Internet works thanks to loose but trusted connections among its many constituent parts, with easy entry and exit for new Internet service providers or new forms of expanding access.

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.

We're moving from a centralized understanding of the world to a decentralized understanding of the world.

We should probably figure out a new word for this. For us, "open" means transparent, as in "open source" - you're not locked in to what the original creator did. And in our case "open" also means distributed decision making.

I've been asked to explain why I don't worry much about the topics of privacy threat...One reason is that these scenarios seem to assume that there will be large, monolithic bureaucracies...that are capable of harnessing computers for one-way surveillance of an unsuspecting populace. I've come to feel that computation just doesn't work that way. Being afraid of monolithic organizations especially when they have computers, is like being afraid of really big gorillas especially when they are on fire.

There is an opportunity to recreate the financial world as we know it in the parallel universe that is the blockchain. We are writing rules for this whole new universe.

What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy.

Everything will be tokenized and connected by a blockchain one day.

Things in our country run in spite of government, not by aid of it.

I'm not wed to bitcoin's blockchain. I'm blockchain-agnostic.

Bitcoin is great as a form of digital money, but its scripting language is too weak for any kind of serious advanced applications to be built on top.

Bitcoin can be programmed, metered, and exchanged by connected devices, enabling more efficient usage of our planet's resources and services.

The virtues of the blockchain is that it would be that it's peer-to-peer settlement - no centralized settlement, no manipulation... And most importantly, there's nothing to capture. It's consensus based. It's stateless.

When you drill down, blockchains are really a shared version of reality everyone agrees on. So whether it's a fully immersive VR experience, augmented reality, or even Bitcoin or Ethereum in the physical world as a shared ledger for our 'real world,' we'll increasingly trust blockchains as our basis for reality.

We all want a non-fragmented solution, but the utopian version of a single blockchain to rule them all is undesirable and impractical.

The only organization capable of unprejudiced growth, or unguided learning, is a network. All othertopologies limit what can happen

Peering succeeds because it leverages self-organization—a style of production that works more effectively than hierarchical management for certain tasks.