Tech entrepreneur, angel investor, and author of The Network State, Balaji Srinivasan, says a proverbial “giant robot” of supportive governing bodies and crypto proponents is needed to do battle with the “giant monster” of the U.S. federal government. The former CTO of Coinbase also said he will issue an update on his ongoing $1 million-dollar bitcoin bet “soon,” noting that “the reason I did that was to draw attention to this crisis.”
Balaji Envisions Fall of Western Fiat, Promotes In-Person Meetups to Build Trust
Speaking remotely at the first in-person ETHGlobal Pragma Tokyo Summit on April 13, tech entrepreneur, author, and bitcoin proponent Balaji Srinivasan emphasized to attendees that difficult economic and societal changes are coming, but he is also optimistic about the tools crypto and the larger community focused on “network states,” already provide to weather the storm.
Asked by Bitcoin.com News what the next practical steps are on the road to setting up network states and what work is being done, Srinivasan emphasized that the fiat crisis will draw people to decentralization due to a “deficit of trust in the world,” but noted that some degree of trust is still required for society to work at a primary level, elaborating:
The decentralization is coming and then we need re-centralization, but consensual re-centralization [of] the other side into these small clusters. I recognize that’s thinking ahead, but we need to think ahead because these changes may come very quickly.
The author noted he is working on a follow-up to his book The Network State, and creating videos to go along with it, because “a lot of those things that I thought were going to come in ten years might be coming in a few years.”
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Author: Graham Smith
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