Fred Wilson, the partner at Union Square Ventures which happens to be one of the leading investment firms in the Bitcoin and blockchain technology sector recently spoke at a Coin Center Annual Dinner event held on May 2, 2016. In the event, he spoke about his experiences with the blockchain technology, while touching upon the future of the distributed ledger technology as well.
Fred Wilson is a veteran in the venture capital game. He has been investing in these early stage technology startups since the past 30 years. According to him, Bitcoin and the blockchain technology gained his attention in 2011. Since he got to know about the distributed open source and open trust technology, he has been attracted to it. He compares the blockchain technology to the internet in terms of resilience. Going back to the days of internet, it was introduced as a massively decentralized system connecting the whole world, which can withstand and survive even if one or more of its sources come under attack.
The blockchain can be considered the same, with its resilience and the decentralized nature, which can continue to exist even if multiple nodes are destroyed. The potential offered by the technology is just enormous and that is what drove him to invest in the cryptocurrency sector. Why Bitcoin?
He says that the first time he came across bitcoin was when he accidently bumped into a friend in New York who was working on Bitcoin at that time. Once he got to understand more about the digital currency, he was inspired to follow the developments happening in the sector. He also started writing about Bitcoin and blockchain technology. Fred Wilson, turned into one of the true believers of the blockchain technology.
Being someone with a strong belief in the decentralized systems, which made him […]
