Software designer and crypto-anarchy historian. Building Tonkeeper.

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Blockchain business is like Formula One

Building apps on a blockchain is very much like the top-tier racing sport, F1. And it’s not about speed, performance or running in circles.

You see, F1 is a technical sport between some of the best engineers on the planet, and the smartest one wins the trophies. In F1, like in real life, there is a stack of technical regulations saying what you can and cannot do. If you break the regulations — you are disqualified. If you meet the regulations — try hard to reach the fourth, third, or maybe even a second place.

But in order to win your job is to find the gap — the one where the regulations mean one thing, but actually say a different one. That’s where the true geniuses figure out extra power and downforce to be added to otherwise excellent engineering expected from everyone in the paddock.

Blockchains and Fintech are somewhat like this. You don’t want to break the regulations, but you also don’t want to make a complicit product — blockchain part adds more overhead and instability to whatever traditional piece of software you are doing. Blockchain products are used in the middle area: where people need to break away from corrupt status quo imposed by old order, achieve personal freedom and take personal responsibility. All while using it wisely and not get disqualified.

In F1 only the top of the top need to find the gap. In blockchain everyone has to play this game to stay afloat. Airdrops instead of ICOs. NFTs instead of securities. Self-custody apps instead of banks. Zero-knowledge protocols over cloud computing.

You don’t disrupt the world head-on. You work around the obstacles by building a better way.

18 d   blockchain
1 comment
Daniel Olshansky 13 d

Which projects, in your opinion, are leading by example right now?