“The focus should be on digital ownership.”
Cryptocurrency world It's full of noise. Meme coins, speculation, rug pulling, scams, hype, and doom distract us from all the innovative things people are building with blockchain. And sometimes noise contaminates the flow of information so much that it becomes very difficult to maintain faith in the technology.
Still, one venture capital veteran feels the only way to carve a clear path is to focus on blockchain technology and building startups in the industry.
“Cryptocurrency and blockchain are in the news a lot, but a lot of it is about speculation and prices. We feel there is another side to this story,” said Chris Dixon, Partner at Andreessen Horowitz (a16z) said on TechCrunch's Chain Reaction podcast. “What I live by is the narrative side, and what the entrepreneurs we work with live by is what I call the productive side of blockchain.”
Mr. Dixon has been with a16z since 2012 and also helped establish the company's current crypto division. For the past year or so, he's been hard at work on his new book, Read Write Own, which was released earlier this week.
In his book, Dixon compares blockchain to steel and the Web 2.0 internet to wood. When steel first arrived, most people thought wood worked just fine and was unnecessary, but then, when steel was adopted on a large scale, things changed dramatically.