Chapter
Crypto as a Public Good
19:31 - 29:27 (09:55)
The concept of public goods needs to be decoupled from the idea that one central organization perfectly understands and can impose their idea of the good. The hope is for blockchains to continue to prosper, with scalability figured out so people can start doing amazing things like all the use cases discussed despite current transaction fees being at $5 to $10.
Clips
With the advent of crypto, there is now an opportunity to form new digital institutions that can serve public good in innovative ways.
19:31 - 22:13 (02:41)
Summary
With the advent of crypto, there is now an opportunity to form new digital institutions that can serve public good in innovative ways. Crypto can do more than just create better ways to exchange value; it can also give rise to new markets, institutions, and currencies that offer social incentives.
ChapterCrypto as a Public Good
Episode#188 – Vitalik Buterin: Ethereum 2.0
PodcastLex Fridman Podcast
The speaker hopes that the concept of public goods, which is important in modern civilization, can be decoupled from the idea that one central organization can represent the public.
22:13 - 29:27 (07:14)
Summary
The speaker hopes that the concept of public goods, which is important in modern civilization, can be decoupled from the idea that one central organization can represent the public. The goal is for blockchain to continue to grow and become scalable so that people can utilize the technology for its amazing use cases, instead of being priced out because of transaction fees. The positive impact crypto/Blockchain can have on society can be momentous and needs to be realized, as the effects of empowering people with decentralized technology can have far-reaching positive impact.