In a series of tweets, former Coinbase CTO and General Partner at Andreessen Horowitz, Balaji Srinivasan, shared his insights into the future of blockchain technology. “Decentralization of everything is inevitable,” he said.

Srinivasan went on to say that technologies like – GPS, online maps, and video streaming are something that have become very common and are becoming a routine part of everyone’s life. Srinivasan also stated that decentralization is something that has always struck his mind, whenever he comes across thoughts of what could disrupt tech products.

Technologies like email, GPS, online maps, smartphones, streaming video, etc are no longer new. They are the new normal. Like living through the early 20th century when electricity, landlines, automobiles became popular. https://t.co/5KH378G4X6

— Balaji S. Srinivasan (@balajis) May 27, 2019

According to his tweet, he believes that text-based apps will be the first ones to be disrupted. Something that is built on a “partially” based blockchain version is easy to disrupt. He cited Twitter as an example, rather than something like YouTube or Snapchat which is of a higher- bandwidth.

Srinivasan added,

“I don’t think any crypto can compete with Bitcoin. I do think that public blockchains can help break the power of the new internet monopolies via peaceful, market-based, and above all effective means.”

After Brad Mills of “Magic Internet Money” Podcast asked him for his view on what is it that can ultimately disrupt centralization, he said,

I don’t think any crypto can compete with Bitcoin. I do think that public blockchains can help break the power of the new internet monopolies via peaceful, market-based, and above all effective means. https://t.co/lG2Tg2hxKO

— Balaji S. Srinivasan (@balajis) May 27, 2019

Srinivasan also responded to the question, “Why would people need decentralization when centralization is always cheaper. He answered, “Public blockchain provides financial incentives for decentralization that compensate for the increased technical complexity.”

In more detail, regulations like GDPR have strengthened the position of huge internet companies. This could have been predicted by public choice theory. The ostensible “punishments” only entrench incumbents. Restoring competition will require new tools. Perhaps blockchain. pic.twitter.com/axDSGI4UVn

— Balaji S. Srinivasan (@balajis) May 27, 2019

The post Bitcoin [BTC]: No crypto can compete with Bitcoin, claims former Coinbase CTO appeared first on AMBCrypto.

221 +