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.So much of the blockchain hype is focused purely on the technology and the valuation of the tokens / coins. Not the problem it solves.It's distributed trust. That's the problem it solves. It's incredibly cool technology. That solves a specific problem.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's why it's changed society.I would love to know which societal problems can be reduced to a distributed trust problem. That would convince me that I'm wrong about blockchain technology.