Token Economy Quotes

“the term “smart contract” has become more mainstream since the advent of first Bitcoin and then Ethereum, it was first coined by Nick Szabo in 1996, and thus precedes the development of blockchain networks.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“Engineering, however, is the practice of creating a technology that ultimately always has a social goal. Looking at engineering though a purely technological lens perpetuates a reductionist mindset on why and how we build technology.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“Velocidad, performance y usabilidad son cuellos de botella en la Web3 que serán probablemente resueltos con el correr del tiempo,”
― Shermin Voshmgir, Economía del Token: Cómo la Web3 reinventa Internet (Token Economy: How the Web3 reinvents the internet (English original & foreign language translations))

“However, the Internet we use today is still predominantly built on the idea of the stand-alone computer, where most data is centrally stored and managed on the servers of trusted institutions. The data on these servers is protected by firewalls, and system administrators are needed to manage the security of the data stored on the servers.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“Reduction of bureaucracy: Smart contracts and similar rights management solutions have the potential to reduce bureaucracy and the coordination costs of business transactions”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“While trying to manipulate data on a server resembles breaking into a house, where security is provided by a fence and an alarm system, the Web3 is designed in a way that you would need to break into multiple houses around the globe simultaneously, which each have their own fence and alarm system.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“KERI (Key Event Receipt Infrastructure) is a novel technology - a type of consensus network - that allows to move certain functions of decentralized identity-management systems off-chain to a different layer, and minimize the role of the distributed ledger.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“Stateless protocols like the current Web only manage the transfer of information, where the sender or receiver of that information is unaware of the state of the other.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet

“While the Web2 was a front-end revolution, the Web3 is a backend revolution. The Web3 reinvents how the Internet is wired in the backend, combining the system functions of the Internet with the system functions of computers.”
― Shermin Voshmgir, Token Economy: How the Web3 reinvents the Internet