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  • do you think us as humans on this planet are even ready for that paradigm shift?

  • I mean, do you think some of this is just gonna have to be born of new generations because we're so conditioned to these institutions that you know, most people don't even know how to have a relationship with their own money, you know, and then you give them defy platforms in this and you know, it's like, oh I'm not used to this, sometimes they want, you know, the insurance of having a big brother looking after it, of course there's the downside that you don't own it.

  • So is this shift itself going to be a difficult one mentally for us as humans?

  • Yeah, it is, it is going to be and you're right, it will be a generational shift.

  • But the fun thing is if you look deeply these days, the generation the technology is moving so fast, I say that the generation changes every six or seven years instead of every 20 years, right?

  • I mean if I talked to my brother who's like 78 years younger than me, like his, the kind of apps he used, the kind of like the how the their their friends in tracked their dating life, everything is completely different than than what I you know, I'm used to write.

  • So good thing is, yes, this is a generational change, but then uh you know, the generations will change very, very fast.

  • So generations are changing very, very fast due to this technology that we are like, you know, 6, 10 years younger kids, they are spending more and more their lives on virtual reality where their own assets like gaming industry, very few people know that gaming industry is so big that there's a there's a documentary on netflix which which has a very famous kind of section which says that gaming is basically bigger than uh in the U.

  • S.

  • You have this basketball NBA like national football league, they're famous like you know uh like american football and uh the entire Hollywood and a few more of these entertainments this combine like gaming is this this bigger and You know this $1,150 billion dollar revenues in gaming industry.

  • And uh you know these these users are spending more and more time into these and now with this concept like play to earn in the in the gaming industry, in the N.

  • F.

  • The industry that you know you guys must be hearing you know because now you have a secondary global secondary market where you can you know play a game, earn some assets and then sell it into the market and played you know use this play to one kind of model.

  • People are spending 10 x more money into these gaming into these gaming assets.

  • So gaming industry is also poised for this huge explosion into 10 X 20 X bigger size than what they are today.

  • So definitely yes this is a generational shift But then generations are changing very fast and our generation like maybe 10 years in their kids, they're already doing this, they're already we call these some of these kids crypto native and there are already examples where kids are like these people even now I have become like because I used so much, I'm like much more comfortable, you know paying and owning whatever I have in crypto instead of like you know, it's kind of getting into bank and transferring registering accounts, it's just too much of a hassle.

  • It's sooner or later it's going to be in that way.

  • And another thing you said that you know, we are used to having some big boss watching and you know protecting us from our own mistakes and all that, those are actually application design patterns, you can easily build those patterns where you, you know in lexi 234 years, you will be able to choose a custody account which actually um you know where you own some asset, but then you also have a custodian who provides some level of security on top of that, let's say you own some asset or you want to own like let's a real home on on, you know on Blockchain.

  • So you know, a primary question is what if I lose my key right?

  • And somebody just takes away the ownership of my account ownership of my house.

  • But you know the design patterns, we live all in a way that you know for this kind of asset, you will have 111 set of key with you.

  • But then you will need four or five different signatures, maybe 23 signatures from your family members, one or two signatures from the local government.

  • And then you will be able to transfer.

  • So even if you lose your key, it's okay.

  • You know, you'll be able to recover or maybe add a new key and then there'll be more people to credit.

  • So these are application design patterns.

  • They will eventually evolve, uh, into much more comfortable systems like you were just mentioning.

do you think us as humans on this planet are even ready for that paradigm shift?

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Becoming Crypto Native With Sandeep Nailwal ?

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    林宜悉 posted on 2021/09/23
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