Phrase by 'Vitalik Buterin'
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The industrial revolution allowed us, for the first time, to start replacing human labour with machines.
Author: Vitalik Buterin - Russian BusinessmanTime , Start , Us , Industrial Revolution
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.
Author: Vitalik Buterin - Russian BusinessmanWork , Doing , Job , Customer
As society becomes more and more complex, cheating will in many ways become progressively easier and easier to do and harder to police or even understand.
Author: Vitalik Buterin - Russian BusinessmanUnderstand , Society , Police , Cheating
The main advantage of blockchain technology is supposed to be that it's more secure, but new technologies are generally hard for people to trust, and this paradox can't really be avoided.
Author: Vitalik Buterin - Russian BusinessmanPeople , New , Trust , Technology
In general, signalling theory says that if you have a good way of proving something and a noisy way of proving something, and you choose the noisy way, that means chances are it's because you couldn't do the good way in the first place.
Author: Vitalik Buterin - Russian BusinessmanYou , Good , Way , Place
The thing that I often ask startups on top of Ethereum is, 'Can you please tell me why using the Ethereum blockchain is better than using Excel?' And if they can come up with a good answer, that's when you know you've got something really interesting.
Author: Vitalik Buterin - Russian BusinessmanYou , Me , Better , Good
In order to have a decentralised database, you need to have security. In order to have security, you need to - you need to have incentives.
Author: Vitalik Buterin - Russian BusinessmanYou , Need , Security , Database
I remember knowing, for a while, for a long time, that I was kind of abnormal in some sense.
Author: Vitalik Buterin - Russian BusinessmanTime , Long , Remember , Long Time
A smart contract is a mechanism involving digital assets and two or more parties, where some or all of the parties put assets in, and assets are automatically redistributed among those parties according to a formula based on certain data that is not known at the time the contract is initiated.
Author: Vitalik Buterin - Russian BusinessmanTime , Smart , Data , Digital
Blockchain software companies may end up being amalgamated into existing software giants, at which point blockchain patents will just become part of the existing patent war.
Author: Vitalik Buterin - Russian BusinessmanBeing , Will , War , End
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