Fred Ehrsam Quotes

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For the foreseeable future, I'm all about building blockchain-based decentralized services.

Ethereum will be a first-class citizen on Coinbase.

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AIs are only as good as the data they are trained on. And while many of the tech giants working on AI, like Google and Facebook, have open-sourced some of their algorithms, they hold back most of their data.

To create an open protocol which helps coordinate resources towards a common goal, the resources need to be known at some level in the same way a lot of of data on the web needs to be public for it...

AIs trained on open data are more likely to be neutral and trustworthy instead of biased by the interests of the corporation who created and trained them.

OpenAI is doing important work by releasing tools which promote AI to be developed in the open. Compute power is largely produced by NVIDIA and Intel and still relatively expensive but openly purchasable. Blockchains may be the key final ingredient...

Blockchains are digital organisms. As organisms evolve through changes in their DNA, blockchain protocols evolve through changes in their code. And like biological organisms, the most adaptive blockchains will be the ones that survive and thrive.

Private funding was one of the first methods used when MIT funded Bitcoin core developers Gavin Andresen, Wladimir van der Laan, and Cory Fields in 2015.

Public crowdfunding still suffers from a tragedy of the commons problem. Everyone will want the benefit of the crowdfunded efforts but is incentivized to sit on the sidelines and hope others chip in.

The self-driving car revolution was kicked off by The 'DARPA' Grand Challenge to make an autonomous car traverse 132 mi. of a desert.

Scaling is multidimensional. Different methods address different things.

Working on a token is similar to working on a startup: higher risk and lower initial impact but higher upside potential. How core protocol work is best funded beyond the initial Ethereum Foundation endowment is an open question, but likely...

Everything will be tokenized and connected by a blockchain one day.

Not having sub-governance would be like anyone who owns USD being able to walk into a Google shareholder meeting and voting without owning Google stock just because Google shares happen to be denominated in USD.

Ethereum may make monetary policy decisions like, 'Let's do 1% inflation to support the ongoing development of the Ethereum protocol.' A token built on Ethereum might want to do the same.

Tokens align incentives between developers, contributors, users, and investors. They allow everyone who wants to contribute to a project early the opportunity to get in on the ground floor.

I'd guess blockchains will be the full-blown backbone of virtual worlds - the system for currency, assets, identity, even governance - before doing the same in the 'real world.' Which is where I think we will end up in the...

Just like mutations to DNA in biological organisms allow for evolution through natural selection, forking lets us run multiple experiments in parallel where the strongest versions survive.

Forks often arise from differences of opinion in the direction of a project. And tokens are increasingly a mechanism for voting on changes to their protocols. Since the point of a fork is to try a new path, the new...

Redistributing tokens is a balancing act. In most cases, forks probably want to keep ownership for users constant so users have at least the same incentives to use the new fork as the historical one.

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