I've made a transcript. I'm honor to post this here. This quote needs to be share far and wide. I hope you'll agree after reading it.
Dan Larimer, CTO of Steemit, founder of Bitshares (chief technology officer)
4 minutes or read the transcript below:
Starts at 3:45
I wrote this transcript.
Published on Dec 27, 2014
Where the Internet and blockchain technology can take us as a society, where every transaction you do is settled on a blockchain, where every dispute that you have is resolve on a blockchain, where your reputation and your identity are management on a blockchain, where you're voting happens on a blcokchain and where all laws that you agree to follow, you sign to, and posted it on the blockchain.
Whenever you go to do business with someone you bump your phone together and it verifies that you got compatible arbitration agreements automatic and we make that purchase you've got a signed record, a signed receipt of what it is you're buying and what terms you agree to.
So you've got these verifiable provable signatures, you got built-in arbitration, you're only held accountable to your own laws.
Every member of society can be bonded by posting a bond on the blockchain in security against your compliance with the laws that you agreed to follow and all this stuff can be done on an entirely voluntary manner that does not depend upon initiating force or violence against anyone, can be done on entirely legal way because it only depends upon free speech and voluntary association.
So I can envisioned up the blockchain technology will allows us to create a world where the forces that incentive for being part of the bitshares community, of the blockchain crypto-community, the eficiencies you gain are so strong that your profits are so much higher that being rejected or shunned by that community forces you to do with people outside it.
People who have to charge higher fees require security deposits for your utilities, for your rent, for every thing under the sun, because the cost of doing transactions, the cost of doing business outside the system would be higher thant the cost inside the system.
So I see this creating self reinforcing virtuous cycle where the more people that join and participate and start doing commerce entirely on a blockchain merchants and consumers never having to leave back to the fiat world.
Those start to see a growing snowball effect until it gets to a point where no one dares be a government official because they would be be excluded, because they would participating in the initiation of violence against others. So these things are possible.
I would say that the thing that differentiates me from a lot of other people is that I don't give up on finding a solution.
I believe a solution exists. I don't believe that violence is a necessary response to violence, that we must create governments or to have law and order.
I believe that good people don't have to resort to bad things, just because bad people exist and I'm not going to rest until we figure out and solve those problems.
If you have the faith and you're willing to not give up until you found a solution then you will find the solution. People didn't give up on flying until they figured out how to fly. Now we fly all the time but before people flew, people said it was impossible.
Well today people say it's impossible to live in a world without a government backed by violence and I say don't give up. Instead join us and help us innovate the solutions and adopt them. It does matter what it is, whether you worried about pollution or child abuse or roads and highways, all these things that people act it up, well you need the government for this that the other thing. Don't give up we can find a solution. Let's work together.
Dan you're a genius. Though I knew from the start, bitshares and DPOS were revolutionary, this quote blew my mind and really inspired me on so many level when I heard it back in 2014. It still does.
About DPOS: the fact that fees will always be lower in a DPOS system compare to a POW system is one of the reasons why DPOS is revolutionary. I won't go into details about all the other reasons as to why but I'd love do so in a future post.
I hope you guys love to hear/read that quote from Dan as much as I do.
Tomorrow I'll be posting about bitcoin and why and how bitcoin and blockchain technology will and are changing the world. I know this has been done countless times but I really believe I can truly bring something a lot more meaningful and powerful compare to what we're use to see and read.
Thank you for reading me.