What do you anticipate the response of the system will be to the true immutability and decentralisation of the blockchain? We are still in a period of confusion; unpredictable and broad-ranging societal implications are difficult to swallow. If you read the media stories about the internet from 1992 through the mid-2000s, it's scare story after scare story.
At some point all of that stops because everyone who already sees the value is using it and they don't listen to those stories anymore because they see that the reality is different. As these technologies become mainstream, things aren't always going to go well but over time people are going to see that it gives them better outcomes. That's going to happen in countries where the rule of law, the system of government, and the system of banking are all indistinguishable from organised crime.
Transcript
[AUDIENCE] What do you anticipate the response of the system [will be] to the true immutability... and decentralization of the blockchain, as those methodologies and technologies become widespread? There [will] be a forceful response by the establishment. What do you think it will be?
[ANDREAS] I still think [they're] in a period of confusion. This is sufficiently different that it is very difficult for people to swallow. Change is difficult. Things that have unpredictable and broad-ranging societal implications are difficult to swallow.
We've seen that with the internet, right? It was initially received with confusion and really bad scare stories. If you read the media from 1992 through the mid 2000s, it was scare story after scare story. At some point, all of that stops because everybody who sees the value [in it] already uses it.
They don't care to listen to those stories anymore. They see that the reality is different. As these technologies become mainstream, things [will not] always go well, but over time, people are going to see that it gives them better outcomes. Most importantly, that [will] happen in countries where the rule of law, the systems of government and banking, are all indistinguishable from organised crime, and there are a lot of countries like that.