“And the only way that that ends up being a service that the end user uses is either if it's cheaper than existing services that you can get from the centralized model, but on par in terms of user experience, or it's a fundamentally new experience or service, and this is the only place I can get it.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Chris Berniske
PredictionNot checkable as stated
Berniske: End users will pay in fiat while work tokens handle supply side
“And I think we'll increasingly see this where the demand side is going to just pay in whatever asset they want. They don't need to interface with crypto assets from a day to day perspective, but you can still have value in a work token that organizes the suppl…”
Chris BerniskeFeb 26, 2019▶ 5:00a16z Podcast | Cryptonetworks as Emerging Economies (Done Right?)
PredictionNot checkable as stated
Berniske: Value capture in crypto will move up the protocol stack
“I think we will see an evolution of value capture within crypto, where value will start to move up the protocol stack.”
Chris BerniskeFeb 26, 2019▶ 23:48a16z Podcast | Cryptonetworks as Emerging Economies (Done Right?)
PredictionNot checkable as stated
Berniske: Most Layer 1 protocols will be commoditized
“So I don't think every layer one protocol will capture a ton of value. I think most of them will get commoditized and the ones that don't will be the ones that become these stores of value.”
Chris BerniskeFeb 26, 2019▶ 25:29a16z Podcast | Cryptonetworks as Emerging Economies (Done Right?)
Opinion
Berniske: Work tokens prevent passive capital accumulation in cryptonetworks
“I think one thing, even if we end up in a work token world or taxi medallion world where we've separated capital and currency again, at least within those networks, the one reassuring thing is that you can't be a passive accumulator of capital. You have to be …”
Chris BerniskeFeb 26, 2019▶ 8:57a16z Podcast | Cryptonetworks as Emerging Economies (Done Right?)
AssertionNot checkable as stated
Berniske: Crypto networks lacking formal governance devolve into defection
“I think also if you don't have formal governance mechanisms and clarity around it, you devolve into governance by defection. And we saw that with Bitcoin.”
Chris BerniskeFeb 26, 2019▶ 38:21a16z Podcast | Cryptonetworks as Emerging Economies (Done Right?)
Opinion
Berniske: Developer attention is crypto's most valuable resource
“Developer attention is the most valuable resource, I would argue, within crypto right now.”
Chris BerniskeFeb 26, 2019▶ 24:15a16z Podcast | Cryptonetworks as Emerging Economies (Done Right?)
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