Interesting thought experiment.
I recently immersed myself in the new and ethereal world of crypto and blockchain. Anecdotally, there’s an infamous white paper that Satoshi Nakamoto sent to his email list explaining the technology behind the cryptocurrency he created called bitcoin.
Fast forward to today. Bitcoin is still into that ambiguous state of whether it is legitimate or not. What strikes to me as interesting is this —
We’re talking about a technology that would remove the middleman from the way and #MakeTradeGreatAgain. Meaning, a central authority that regulates the whole system is not involved in the transactions you make. You, the person reading this, wouldn’t need a bank account anymore to be relevant on planet earth.
It’s a technology that very few people understand. Not because everyone else is stupid but because perhaps they’re not interested in learning about it or do not have access to the information due to reasons like no education, no internet, no money, etc.
For a technology that wants to replace trade as we know it so that the people that get left out of the monetary circuits right now can feel included and can participate and contribute with a much better every-person system of handling money, it’s a bit exclusive to understand.
The people who will receive this benefit, don’t really get it. Not qualitatively, but quantitatively. I mean all the people. If 7 billion people understood what cryptocurrency wants to do, how quickly would it replace the current way we carry out trade? Or become obsolete for that matter.
Unfortunately, people don’t talk in white papers.