0:00:00 – Rao’s Community Update 192 https://rchain.atlassian.net/wiki/spa…
0:07:50 – NFT PoC update – similar functionality can be applied to what we contemplated with Synereo.
0:10:39 – Greg – BoD update, no IoB’s made it through. The coop can implement or had already implemented some of them.
0:13:39 – Greg – announcement for the closed door session re: engagement with institutional investors.
0:14:29 – Darryl – Dubai trip – AIM Summit – https://www.aimsummit.com/
0:16:08 – video for the booth
0:21:14 – commentary
0:22:11 – Greg – preview of his talk at the AIM Summit – https://www.aimsummit.com/agenda/sess… – money is a coordination technology, programmable money can extend the coordination capabilities. The biggest coordination problem that the world faces is climate change. Therefore, the extended coordination capabilities of programmable can help us mitigate climate change.
0:24:20 – Looking at the matrix – high level view of the different programmable approaches to compare and decide on which approach is best.
0:25:27 – Rao – reasonable to assume that there will be blockchain applications for climate change mitigation. Re: the matrix, there are 12,400 crypto projects. How does an investor look at these? The matrix is very helpful. All these 12,400 projects are based on one of a dozen or so layer one blockchain projects. If an investor applies the matrix they would see where all of these investments would appear. Also in optimizing investments – where is the hockey puck going? The matrix is also helpful for this, giving a transformative glance for an investor.
0:29:40 – Darryl – Many investors are thirsty for climate mitigation solution projects to invest in. Greg – we had conversations w UAE citizens as early as 2018 – they want to have their finger on the pulse of what is going to define the next wave of tech. How the hardware is shifting and regulatory position is shifting, we are well positioned.
0:31:30 – Greg – went to SF in Thurs – attended Foresight Institute – Agoric people kept pushing the idea that their adoption of Javascript was to get over the “adoption problem”. I held my tongue at the meeting, but quickly wrote an article addressing 4 problems with the adoption argument with respect to javascript. After we clean up the prose we will push it to a blog article. On the Casper standup I did a detailed discussion of the arguments.
0:33:40 – 1 – once upon a time Javascript faced its own adoption problem. How did it get over this? Because it was the first to supply programmable UI for the browser. Supplying a need early connected to an economically rewarded demand. Those are the 2 energy barriers to getting over adoption. And if we apply that criteria to Solidity we see that programming the blockchain state connected with high economic reward for being able to do that, was the same reason why Solidity saw such accelerated adoption. So in general, if you have something that’s early and there’s economic reward for wielding that capability, then you are going to get over the adoption curve. So at we are at the very beginng of programming the blockchain state, and the blockchain state is concurrent. The factbis that the prgramming model has been under squeeze from concurrency from above and below. From below, Moore’s Law ended in 2005, and all scaling is happening because of concurrency. From above, users are expecting applications to support tens to hundreds of millions of active concurrent users on a 24/7 basis. So the programming model that provides support for that, is going to allow developers who use it to out compete developers who are using a programming model that can’t. We all know that it’s not just about the throughput, it’s about correctness. If you are moving too fast with incorrect code, you are going to destroy the network. so this is the other reason to choose the kinds of concurrency models that RChain has chosen. But it represents a paradigm shift for developers, so the programming model that offers this now will provide significant security and economic advantages to their applications and so will be well rewarded, so we meet the criteria for getting over the adoption barrier, but it’s also very foolish to talk about adoption this way.
0:36:47 – Everybody who has worked with the fintec shops knows that they pay their developers top dollar to play with the newest and fanciest toys. Mostly it’s not abourt keeping up with the joness so much as king sure tht their developers are happy and don’t leave to go with another shop. So roughly on a 2 year cycle, the fintech shops are retooling with the brightest and best toys. Example: The functional programming love affair that happened in the mid 2000’s……
0:37:50 – So this is the reality of how it works in fintech, and if the fintech folks pick up your bright shiny programming model and they like what they see, they will lead the rest of the market to your tech.