Conference Presentation, Keynote
Talks at GS – Naval Ravikant: The Capital Play Behind Blockchain and Cryptocurrency
- Cryptocurrencies are anticipated to redefine nation-state functions, economies, and voting systems over a long time horizon, with immediate redefinition of company and network construction expected in the short to intermediate term.
- Blockchains are predicted to establish instant market economies that settle supply, demand, and resource tracking between users without central company interference, while remaking entire networks for power, energy, bandwidth, and physical real-world contracts.
- Capital formation is expected to increase online with geographical distribution and earlier liquidity, shifting returns to a broader demographic despite potential market frothiness and complaints from existing players as new users enter closed networks.
- Regulators face difficulties controlling the ICO phenomenon and digital bearer assets, as financial regulations regarding code and speech are expected to conflict, creating a new normal where constraining free speech and money simultaneously proves challenging.
- National competitiveness is projected to be a major factor as the first country to adopt a decentralized reserve currency like Bitcoin or Ethereum may secure that currency, creating a final decisive "boss battle" between governments following smaller crises like forks.
- The Trump administration is forecast to remain very deregulatory for the next couple of years, rolling back two new regulations for every one issued, while China is expected to continue oscillating on policy due to the incompatibility of constrained capital controls and speech with free cryptocurrencies.