The Future of Blockchain and Decentralized Networks

Matthew Spoke, CEO of Aion Foundation, speaks about the future of blockchain and decentralized networks.

Aion refers to itself as “a multi-tier blockchain network designed to support a future where many blockchains exist to solve unique industry problems and to power the services of the modern world.”

In this talk, Spoke discusses the evolution of human societies and notes that societies were built around geography and limitations of information and resources.  More specifically, he points out how throughout history, social structures have been built on hierarchies.

He compares how, historically, evolution occurred slowly. Whereas now we are seeing massive transformations year after year.  He proposes that the world has changed and governance needs to be re-thought because our social structures are not reacting fast enough.

He suggests that instead of being organized by geographies and hierarchies, that we should replace hierarchies with networks

Networks connect sovereign units. And in regard to organizing our world, networks could connect:

  • Sovereign individuals
  • Sovereign products
  • Sovereign cities
  • Sovereign autonomous organizations

What’s needed in such environments are clear definitions and rules which represents a truth for all connected via any specific network.  Which is how blockchain works.

Spokes further outlines how the internet evolved in a way in which large, centralized monopolies control our digital lives.

Blockchain allows us to revisit and re-architecture this arrangement since blockchain does not require these centralized monopolies.

He highlights how the internet is built on 12 basic protocols.

Blockchain will also evolve with layers and layers of protocols to solve different problems, but we’re very early in the development cycle in that we are still building base layers of blockchains.

However, in comparison to the development of the internet, this time with blockchain it will be different because blockchain has a built-in economic incentive. If you participate in the development, you can benefit as the network grows. Blockchain includes the concept of an owner inside of a global infrastructure. Nevertheless, it takes time to build these technologies.

Lots of projects will run out of money in the next few years.

Also, first to market doesn’t always win.

At the end of the day, global engineers and researchers are working to build a new internet of value.