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Key Trend Blockchain

Software is eating the world, but blockchain is building the trust

Ivan Li 2021/07/02
 ShutterStock
ShutterStock

Blockchain, the one of hottest technology, has reduced the cost of "trust" by using mathematical principles and game theory to fundamentally solve the long-standing trust problem of human society from an economic point of view.

In recent years, Red Building has also discovered that the impact of blockchain has further changed the social structure within the software, that is, the relationship between entrepreneurs, investors, and users. Since the advent of Bitcoin in 2008, this brand-new technology has reduced the cost of “trust”, using mathematical principles and game theory to fundamentally solve the long-standing trust problem of human society from an economic point of view. As long as the mathematical model is correct and logical and the programming language is reasonable and efficient, then blockchain technology can completely change the way human society interacts and trust each other and establish a new economic model, which is the new generation of Web 3.0.

Unfolding the history of technological development, there has been a new wave every 10–15 years, and many unicorns born from it. From the PCs and personal mobile devices in the late 1970s, the most representative ones are Intel, Microsoft, and other giants. The Internet in the early 1990s created unicorns such as Google, Amazon, and Yahoo. In the late 2000s, smartphones and mobile networks enabled companies such as Apple and Facebook to still occupy the top 10 list of companies in the world. The next wave will be led by emerging technologies such as AI, blockchain, cloud software services, and IoT to further improve human lives.

Red Building Capital also believes that many unicorns will be born from it. Since 2017, we have been involved in the blockchain industry and introduced it into real life as a solution in the fields such as information security, supply chain finance, and data governance. We call them “Industrial Blockchain” solutions.

Because of the Internet, the speed of information transmission has grown by several orders of magnitude, and new types of applications have also been created. Browsers based on network visualization, such as Netscape, and e-commerce platforms such as Craiglist and eBay, and search engines such as Yahoo and Google. When the smartphone matured, there are social platform applications such as Facebook and Instagram. Finally, when the Internet matured, killer sharing economy applications such as Uber and Airbnb have emerged. The software applications mentioned above are thAT super software with billions of users. The world is constantly changing and evolving because of them.

Blockchain technology is developing at a rapid rate. This feels like the early days of the development of the Internet. We have seen financial institutions, technology companies, venture capitals, developers, and many users continue to flood into this new industry. In addition to using blockchain services, funds and time have also been invested in trying to create more advanced software applications. We saw the success of Linux based on Opensource Software. The free software environment allows more professionals to quickly and iteratively develop better software, and the development of blockchain technology is rapid and tremendous. It is also due to the architecture of open-source software. In addition, peer-to-peer interaction has also greatly improved the efficiency of information transmission. One of the most notable companies is Skype, which most of us have experience with. Blockchain also uses the characteristics of its decentralized database to provide peer-to-peer transmission functions, avoiding the possibility of single-point crashes, simultaneously improving security and privacy.

Blockchain is like an upgrade for the Internet. It not only transmits information quickly and reliably but also enables the transmission of assets and value. This is a breakthrough across the ages. Red Building is deeply involved in this, hunting for and cultivating these future unicorn companies. We work closely with investors and entrepreneurs to create the flow of resources while assisting the team in the development of the projects. Embedded in the new era of the digital economy, Red Building Capital is determined to accompany startups and cross every hurdle such as the market cycle.

Red Building Capital has always believed in the power of software. Softwares allow humans to hand over the complex models and ideas they have learned and thought to the computer, and implement them in a simplified manner.

About the Author
Ivan Li
Author >

Ivan Li is the founding partner of Red Building Capital, the top blockchain VC based in Taiwan. Former TSMC (Semiconductor. Fortune top 10 enterprises) R&D engineer. He also a serial entrepreneur with experiences in Shanghai, Berlin, and Taipei. Ivan has been a long-time angel investor in addition to 10+ years of experience in the secondary market. TED Talk speaker. Kakao Klaytn early investor. National Taiwan University material science B.S. and M.S.

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