Former Coinbase CTO: The entire technology industry will be based on public chain reconstruction

Former Coinbase CTO Balaji Srinivasan said that the entire technology industry will eventually rebuild on the public chain, but it takes time. Set up companies, financing, transfers, employee benefits, user incentives, encrypted communications, identity, accounting, mergers and acquisitions, corporate governance, etc… all of which can be automated through the chain. Under the premise of ensuring the smooth flow of the network, the role of the physical location will be weakened. In this world, all large institutions hold bitcoin because of their generally accepted value. Digital gold standard. Of course, not all projects fit into the blockchain, depending on the community.