January 02, 2020
One of the important elements of blockchain technology that is not talked about enough is its permissionless nature.
Underlying permission technology allows developers to build tools without permission. It could also allow users to use these tools with no permission.
In just ten years, we already have applications on top of the blockchain that offers fundraising, trading, exchanging, lending, derivatives, and payments. Users don’t have to go through financial institutions to send transactions in these applications.
The history of the Internet can foreshadow what’s to come. The permissionless nature of the Internet allowed developers to build publishing applications like Blogger, Reddit, and WordPress.
We used to have no way but going through publishers if we want to publish our ideas to readers. But these applications disintermediated those gatekeepers and allowed individuals to publish their ideas without asking for permission.
The once-mighty gatekeepers might have watched in horror as amateur creators flood the media. The democratic publishing system produced an abundance of content.
Our future is in the creative exploitation of new technologies. When these technologies are permissionless, it will spawn out the boom in human creativity.
The internet created an abundance of publishing applications and content. The blockchain will create an abundance of financial applications and transactions.