Netflix, Youtube, Iphone discussed on Reformed Millennials - Growth Investing Canada
Then you have the theorem stack which is completely different from that and the benefits of the therion stack and this is coming from people that are definitely much more educated on this than me in the building in this area. Their argument is that the theory layers substantially more secure from hackers blockchain itself ensures that the data stored in the cannot be changed. So you can trust in that. It's not being stolen and or changed at any point. And i think that this probably lends itself to some really interesting businesses that require trust so i was reading this long twitter thread and i took a bunch of experts from it and put it in our notes and were they feel as though this is really gonna largely benefit certain industries are in credit cards banks insurance property titles car titles lawyers and i couldn't agree more where. Aws makes more sense for netflix. As someone who's producing content disney even using these data centers even youtube. For instance a lot of those matters because that's where the distribution but if you own your distribution in you don't wanna give it to somebody else and you wanna use a decentralized system so you have people that are providing proof state for work on the theory of chain so they are your data center people's computers your dad center other people's computers providing all the infrastructure for you if you're a lawyer that owns distribution well and not only that you have very sensitive information. You have all of these different things that need to be encrypted while i think that the theorem layer makes a ton of sense to be an additional option if you want to move away from centralized system to something that's decentralized and the six things that i mentioned in this is not necessarily me i think it just makes sense of businesses that rely on trust more than any are those six things like the lawyers your property titles insurance banks credit cards. That is reliant on trust if that is the basis of your service. You probably should be looking at something. That's a little bit more secure. Yeah i think the analogy gave in a previous episode. The theme in blockchain. Maybe could look that be looked at as the mobile device win. Iphone became popular and while it was a new frontier. Didn't mean that web was going away. People still use computers but a curious to get your take on this hype cycle and pricing. And how you would rebuttal somebody that saying you know. What are you even buying when you speculate in by ether is that even attached to this entire underlying network of value. Yes so i mean this is such a i mean. Now we're into the weeds of when to buy when to sell and whatnot and for the record indefinitely selling a theory into this ridiculous run-up. But when i think about this economy itself i like to think of it as a theorem is valuable so long as a certain amount of commerce being performed on the the actual chain itself. So if there's when you think about the us dollar the us dollar value was derived. Gdp gdp is basically the amount of congress performed with that that currency. So when i look at it theory if there is not a ton of ballroom being produced outside of people speculating in trading. What's the underlying economic value..