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Corona virus could speed up blockchain adoption

July 8, 2020

During a panel on Unitize on Monday, Balaji S. Srinivasan said that COVID-19 changed everything and could speed up the introduction of blockchain.

Srinivasan is known for its numerous roles in the crypto space. He is an investor, entrepreneur, former CTO at Coinbase and general partner at Andreessen Horowitz. He believes that COVID-19 has made centralized governments more powerful than ever and that over-government is causing people to look for new ways to maintain their fundamental rights. He speculates that cryptocurrency and blockchain could play a major role in the future, adding:

“There are certain things that are difficult to do unless you do them centrally. It is not that all governments have failed. It is the case that every government has power. And it is the case that every government has power and a lot of power over the economy by basically taking a break from transactions, etc. “

Srinivasan noticed that Economy is no longer an “abstract” thing, but a data structure that can be “stopped, edited and analyzed”.

Corona virus could speed up blockchain adoptionCorona virus could speed up blockchain adoption

If you’re right This could lead to government control over the economy. The pandemic has tested the cohesion of the international community while strengthening nationalist standards around the world.

However, Srinivasan believes that we live in a centralized and decentralized world. He believes that states that cannot act coherently during the pandemic are likely to fail, and says that the remaining states will inevitably become more central.

Srinivasan speculates This mechanism creates a no man’s land in the resulting gaps and creates a corresponding demand for a free trade zone between a decentralized and a centralized post-pandemic world.

Srinivasan predicts that Blockchain will act as a “maritime law” for the Internet in the coming decade to regulate “no man’s land”. He also points out that “international capitalism” could take place here.

Balaji closed with a presentation Blockchain-based technology as an alternative to areas of political influence:

“Ultimately there are two modalities that people can accept. A, we have full strength. B, nobody has power over us. On the other side of the spectrum, you have Bitcoin, which is open-state, open-source, open-running, fully inspectable, completely transparent, mathematically based, and over which no one has power. “