Megaphone
In a few years, the average
citizen will comfortably
interact with smart
contracts and dapps
without knowing it.
Why? Well as blockchain technology
matures, banks and corporations have
an economic incentive to leverage the
technology to cut operating costs by
automating and decentralizing their
operations. Dapps, smart contracts
and DAOs (decentralized autonomo-
us organizations) have the potential to
reduce infrastructure, labor and ope-
rating costs for all companies to near-
-zero.
The irony of course is that these cor-
porations are investing in developing
technologies which pose an existential
threat. Once they’ve privately decen-
tralized their entire backends, all that
will remain is their brand, a user in-
terface and a fiduciary requirement to
deliv er profits to shareholders.
Perhaps that’s enough for customers
to continue paying a premium fee.
Or perhaps customers will switch to
a public DAO equivalent with zero
profit requirements, that offers the
same (or better) service with much
lower fees.
In this sense,
blockchain technology
is a crypto trojan horse.