Ethereum co-founder Gavin Wood clarifies the technical nature of blockchains regarding public data visibility versus private communication.
Opinion
Wood: Social media retention relies on network effect inertia, not quality
“Look, I mean, people are hooked, right? And they're hooked because of the network effects. It's super, there's huge amounts of inertia. It's not that it's not that the product is necessarily is necessarily, like, so amazing that the individuals are using it pu…”
Opinion
Wood: 98 percent of Ethereum dApps are not actually decentralized
“If you, half of the, more than half, 98% of the dApps on Ethereum are not really decentralized.”
Opinion
Wood: Electing politicians cannot fix global societal trust issues
“I don't believe electing a politician is going to do that at all. Like, not a chance. I reckon the world had a pretty decent chance with Obama, and not much changed, right? He got through a, you know, a healthcare bill that was really just US-centric, and that…”
Insight
Wood: The internet enabled unprecedented consolidation of centralized power
“I think there is a natural tendency towards those in power to consolidate that power. And I think the internet provided a really effective means to consolidate power on a scale not seen before.”
Opinion
Wood: Bitcoiners skeptical of Web3 focus too much on NFT hype
“I suspect that the Bitcoin people that are not super keen on the web three people are probably just on the web three movement. Maybe Think of it a little too much in terms of the you know, the NFT hype stuff, rather than the underlying let's say social and tec…”
Disclosure
Wood: Polkadot will underpin a new decentralized social networking protocol
“Yeah, I mean, this is a collaboration. And I'm happy to sort of announce that, you know, Polkadot is, is the, you know, sort of underlying technical framework that you know, this will be implemented upon.”