Introducing A16Z Crypto
The skepticism of blockchain technology is borne out of a lack of specific problems it solves. Which happens to also be the bedrock of the conventional startup wisdom -- value derived from solving a problem or exploiting an opportunity.<p>So much of the blockchain hype is focused purely on the technology and the valuation of the tokens &#x2F; coins. Not the problem it solves.<p>It&#x27;s distributed trust. That&#x27;s the problem it solves. It&#x27;s incredibly cool technology. That solves a specific problem.<p>The analogy to the early internet is not a good one. The internet solved a huge number of problems -- of distribution, of speed to deliver value to the customer, of freedom of information, of transparency, of fidelity of communication, and more. That&#x27;s why it&#x27;s changed society.<p>I would love to know which societal problems can be reduced to a distributed trust problem. That would convince me that I&#x27;m wrong about blockchain technology.