ChainX Panel: Wozniak and Tone Vays On the Fintech Revolution
August 26, 2018 by Tyson O’Ham
Every technological revolution arrives with the promise of bettering our lives — but in reality, displaces many institutions in the wake of advancement. Balancing the two is of great importance in effecting positive change. In this video, a panel of crypto industry luminaries and tech legend Steve Wozniak share their thoughts on where fintech and technological development is all heading.
Also see: The Ten Most Outlandish Criticisms of Bitcoin and Crypto Ever Uttered
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Skepticism is Important, but Fear Is Counterproductive
At ChainX in Las Vegas, heavy hitters in the blockchain space sat down with Apple Inc. co-founder Steve Wozniak to discuss the impact, positive and negative, of the last tech revolution — and what we should be carrying into the next.
The opening comments of the discussion turn quickly to what blockchain is not, and places that it seems generally be an ill fit for businesses.
Tone Vays, a vocal critic of blockchain claims in business, expresses that the economic incentives of many cryptocurrency projects make little to no sense, and that many properties that make the technology good for things like bitcoin make it bad for medical databases or similar applications.
Wozniak Talks Instincts and Innovation
Wozniak discusses at length the separations between invention and marketing, outlining their symbiotic relationship and the way Apple combined the two for such radical success. They address the nebulous concept of business instincts, then the discussion transitions away from the concrete to thoughts on the overall direction of human advancement.
Disagreements on the Singularity
When the concept of the Singularity and its potential for displacement comes up, the panel diverges somewhat on outlook. Wozniak and Vays express skepticism that technology will evolve to have a controlling interest in the trajectory of human advancement in any active sense, whereas the other members express varying levels of optimism about the evolution of artificial intelligence.
This is the first of a series of panels and interviews from ChainX coming in the next few days, so stay tuned for more talks and information by subscribing and enabling notifications for the Bitsonline YouTube channel.
Do you agree with the views expressed in this discussion? Let us know why or why not in the comments.
Images and video via Ky Primo
