George Gilder has a new book titled "Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy," published on July 17.
"Gilder likens the current situation - the dominance of Google, Apple and Facebook - to a time when humans thought the world was flat," explains a Financial Times review of the best business books for summer 2018. "Our system is 2D, and we will evolve into a 3D one, as it is unlikely that major issues — such as cyber security and privacy, for example - can be solved within the computer systems and networks we use today."
"The author believes that the likes of blockchain and bitcoins will fundamentally change the system because their very nature will lead to more widely distributed computer power and commerce."
"In writing Life After Google, George Gilder has outdone himself," says Ralph Benko in a review just published in The American Spectator. "The author of the bible of the Reagan Revolution has now written the bible of the Cryptocosm. The Cryptocosm is a technological breakthrough that promises to transform every aspect of our lives."
Benko is the senior counselor to the Chamber of Digital Commerce, q trade association which represents the blockchain industry. Gilder serves on the advisory board of the Chamber of Digital Commerce.
"Gilder, for those space travelers recently returned from the long trip to Proxima Centauri, is one of the leading public intellectuals of our era," says Benko, adding that Gilder wrote "a series of books on technology that propelled him to nearly legendary status."
Gilder defines the Cryptocosm as "a new network whose most powerful architectural imperative will be security of transactions as a property of the system rather than an afterthought." Chapter 5 of "LIfe After Google," titled "The 10 Laws of the Cryptocosm," is freely available online.
"A totally insecure Internet is being addressed globally by the movement toward blockchain: distributed security, a 'layer-eight' new security architecture for the Internet," said Gilder in a Forbes interview in February, before the book was published. "A Blockstack to replace the increasingly perforated Internet stack. So, yes, I think that the foundations for an era of very rapid growth exist, which is what my book Life After Google is all about."
Gilder's new book includes an up-to-date account of the history of the computer and internet industries, with a detailed zoom on the latest revolutionary development, the blockchain. Benko says:
"Gilder provides us with a revelatory imaginary encounter with the pseudonymous Satoshi Nakamoto, the inventor of bitcoin, and then introduces us to the ferociously brilliant Vitalik Buterin, 'a child prodigy on a Mozartian scale,' the inventor of Bitcoin’s main rival (or complement), Ethereum."
Though very optimistic on the future of blockchain technology, Gilder is somewhat skeptical of bitcoin, which "cannot fulfill its basic role as a currency," he says. "Its historical fate is to provide a haven from maniacal governments and central banks and a harbor for a great innovation, the blockchain."
"Bitcoin... can serve as a store of value and a vessel for major international transactions. With a 21-million-unit cap, it is not a stable unit of account."
So, according to Gilder, bitcoin is digital gold but not digital cash, and the opportunity exists for other cryptocurrencies to become viable digital cash.
George Gilder is a guru who got many things right over decades, and therefore his thoughts on the future of cryptocurrencies and blockchain technology deserve very careful consideration. I'll write a more complete review as soon as I finish reading "Life After Google."
Image from Pixnio.
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Crypto Insider Editor Giulio Prisco is a writer specialized in science, technology and business. He is persuaded that crypto has the potential to bring disruptive positive changes to the internet and society at large.