Thoughts on the ICP Twitter Conversation
Summary
TLDRThe video discusses the current state and future potential of the Internet Computer Protocol (ICP) in the context of blockchain technology. The speaker emphasizes the importance of understanding ICP's unique capabilities and limitations, especially for newcomers. They argue that despite current limitations, ICP's ability to host full-stack applications and its governance system make it a leading candidate for global payment and identity solutions. The speaker also addresses critiques of ICP, suggesting that while improvements are needed, the technology's long-term roadmap and the expertise of its developers make it a promising platform for future use cases and mass adoption.
Takeaways
- 🚀 The video discusses the complexities of transitioning from Web 2 to a blockchain-based Web 3 model, highlighting the importance of understanding the nuances and different perspectives in this broad conversation.
- 🔍 The speaker emphasizes the value of research and due diligence, especially for newcomers to the ICP (Internet Computer Protocol) space, suggesting they should first understand ICP's differentiating factors before diving into its limitations.
- 🌱 For new ICP users, the advice is to prioritize learning about the advantages ICP offers over other technologies before focusing on its current limitations.
- 📈 The speaker acknowledges the limitations of ICP but maintains a long-term optimistic view, expecting that many of these will be addressed through future innovations and technological advancements.
- 🔑 ICP's ability to build full-stack applications and its unique features, such as real ownership and governance at both network and application levels, are highlighted as significant differentiators.
- 🌐 The speaker views ICP as a potential global payment solution and identity provider, given its built-in governance system and the capability to integrate native applications.
- 💡 The discussion includes the expectation that the adoption of blockchain technology will continue to grow, with ICP positioned as a leading candidate due to its comprehensive offering.
- 🛠️ The video mentions the potential for AI to play a significant role in the future development of blockchain technology, suggesting that its impact on software coding could surpass human limitations and predictions.
- 🤔 The speaker advises against losing perspective by focusing too much on the limitations of ICP in a vacuum, cautioning that this could lead to undervaluing its potential and overlooking its advantages over other networks.
- 📊 The comparison of ICP with other networks is encouraged, with the speaker asserting that ICP currently stands out for its ability to offer a full-stack solution on an open sovereign network.
- 🌟 The video concludes with a strong conviction in ICP's potential, despite current limitations, and encourages viewers to do their own research and form their own opinions.
Q & A
What is the speaker's stance on financial advice in the context of the video?
-The speaker explicitly states that the video is not financial advice and emphasizes the importance of conducting one's own research and making personal decisions.
What was the critique about ICP mentioned in the transcript?
-The critique about ICP came from an individual named Jordan, who pointed out limitations of the Internet Computer (ICP) and raised concerns about its scalability and certain use cases.
How does the speaker feel about the work done by Jordan and his team?
-The speaker respects and values Jordan's opinion and appreciates the work done by him and his team, as they have been closely followed by the speaker in the ICP space.
What does the speaker suggest for newcomers to the ICP space?
-The speaker suggests that newcomers should prioritize research and due diligence, understanding the differentiating factors and use cases of ICP compared to other technologies before delving into its limitations.
How does the speaker view the gap between ICP and other layer one networks?
-The speaker views the gap between ICP and other layer one networks as extremely wide, with ICP offering significantly more value and functionality.
What are the speaker's thoughts on the potential of ICP in the context of global payment solutions?
-The speaker believes ICP could become the best candidate for a global payment solution, especially considering its ability to build in an identity solution and its built-in governance system.
How does the speaker perceive the role of ICP in the future of blockchain technology?
-The speaker sees ICP as a hub for the future of blockchain technology, with a wide range of potential use cases and supporting technologies, even if it doesn't fulfill every single use case 100% within itself.
What is the speaker's perspective on the development and innovation within the ICP ecosystem?
-The speaker expects ongoing innovation within the ICP ecosystem, with new solutions and technologies being developed to address current limitations and expand its capabilities over time.
How does the speaker address concerns about the transparency of Definity's development process?
-The speaker acknowledges that while transparency is important, there are practical considerations and confidentiality agreements involved in working with institutions, which may limit what can be openly discussed at certain times.
What does the speaker suggest about the impact of artificial intelligence on the future of ICP and blockchain technology?
-The speaker suggests that artificial intelligence will play a significant role in the future development of ICP and blockchain technology, potentially dictating what will be possible in the coming years more than current human expectations.
How does the speaker recommend approaching critiques and concerns about ICP?
-The speaker recommends taking critiques seriously, understanding the details and nuances behind them, and not letting them unduly influence one's position without thorough consideration and research.
Outlines
📢 Introduction and Scope of Discussion
The speaker begins by clarifying that the video will not provide financial advice and emphasizes the importance of individual research and decision-making. They forewarn that the video will be lengthy and may cover a wide range of topics due to the complexity of the subject matter. The speaker also mentions a recent critique of the Internet Computer (ICP) by Jordan, a respected figure in the tech community, and expresses a desire to add context and perspective to the conversation. The focus is on the transition from a Web 2 model to a blockchain-based Web 3 model, and the speaker stresses the breadth of this discussion. They also caution against a narrow focus on ICP's limitations without considering its unique advantages and the learning curve for newcomers to the ICP space.
🔍 The Gap Between ICP and Other Layer One Solutions
The speaker discusses their perspective on the significant gap between ICP and other layer one solutions in the blockchain space. They emphasize that while ICP may have current limitations, it offers a full stack solution that is unmatched by other networks. The speaker argues that ICP's ability to build and use applications in an end-to-end manner on-chain sets it apart. They also mention that ICP's potential extends beyond just payments to include identity solutions and a built-in governance system, making it an ideal candidate for global payment and identity systems. The speaker reiterates that they will continue to support ICP as long as it remains the leading technology in the sector and as the broader adoption of blockchain technology continues.
🤔 Addressing Critiques and the Future of ICP
The speaker acknowledges critiques of ICP, particularly those raised by Jordan, and suggests that these should be read in full for a comprehensive understanding. They argue that ICP's limitations are known and expected at this stage of development, and they express confidence that solutions and innovations will emerge over time. The speaker also addresses the expectation versus reality dynamic, suggesting that while certain expectations may not be met immediately, ICP's potential remains vast. They emphasize the importance of a gradual, incremental approach to mass adoption and technological development, and they express optimism that ICP will continue to grow and evolve to address current limitations and new challenges.
🌐 The Role of ICP in the Global Payment and Identity Systems
The speaker posits ICP as a strong candidate for a global payment solution, especially when considering its capacity for integrated identity solutions and a built-in governance system. They discuss the potential for ICP to become a dominant force in the world by addressing a significant portion of global use cases. The speaker also touches on the nuances of blockchain development, including the confidential nature of partnerships with institutions and the non-profit status of the main contributors to ICP. They argue that ICP's current state is in line with their expectations and that they remain confident in its long-term potential.
💡 Innovation and the Future of ICP: Addressing Limitations
The speaker expresses confidence in the ability of the ICP community, particularly the team at Infinity (definity), to innovate and address the current limitations of ICP. They mention the potential for specialized subnets and other supporting technologies to enhance ICP's capabilities. The speaker also discusses the importance of managing expectations and the natural progression of technological development, suggesting that not all solutions will be immediately apparent or implemented. They reiterate their long-term outlook on ICP and its potential to become a major player in the blockchain space, even if it does not fulfill every single use case.
🚀 The Potential of ICP Beyond Technical Limitations
The speaker asserts that ICP has the potential to become a world-changing technology, even with its current limitations. They argue that ICP's ability to offer true ownership and sovereignty on the network, combined with its potential to support a significant portion of global use cases, positions it as a leading technology. The speaker also discusses the evolving role of artificial intelligence in software development and predicts that AI advancements will play a significant role in shaping the future of technology, including blockchain solutions like ICP. They conclude by encouraging viewers to do their own research and form their own opinions on ICP's potential.
Mindmap
Keywords
💡ICP
💡Blockchain
💡Web 3
💡Decentralization
💡Tokenization
💡Governance
💡Use Cases
💡Limitations
💡Research
💡Innovation
💡Artificial Intelligence
Highlights
The video is a discussion on the Internet Computer (ICP) and its current state and future potential, emphasizing the importance of research and understanding the technology's unique value proposition.
The speaker values the opinion of Jordan, a long-time follower and technical expert in the ICP space, but offers additional context and perspective on the critique of ICP.
The transition from Web 2 to a blockchain-based Web 3 model is a complex and broad conversation, involving many moving parts and perspectives.
Newcomers to ICP should prioritize understanding the differentiating factors and use cases of ICP compared to other technologies before diving into its limitations.
The importance of incremental learning and understanding the foundational aspects of a new subject is emphasized, applying this to the learning process of ICP and its ecosystem.
The speaker observes that many people still do not fully appreciate the differentiating factors of ICP, which could lead to a loss of perspective if they focus too much on limitations.
A cautionary message is given to those who might be led to inferior networks with more limitations due to focusing on ICP's current limitations without understanding its potential.
The speaker believes in the gap between ICP and other layer one networks as being extreme, and will not consider changing their position until they see something that comes close to ICP's capabilities.
ICP's ability to build applications end-to-end on its network is a unique selling point that sets it apart from other blockchain networks.
The speaker expects new solutions and innovations to address current limitations of ICP as the technology continues to develop over its long-term roadmap.
ICP is considered the best candidate for a global payment solution and identity management due to its built-in governance system and integration capabilities.
The speaker views ICP as the hub for a variety of use cases and supporting technologies, expecting it to become the biggest thing in the world even if it doesn't cover every single use case.
The progression of artificial intelligence is expected to greatly impact the future capabilities and possibilities of blockchain technology, including ICP.
Definity, as the main contributors to ICP, is trusted to have the largest R&D team capable of creating solutions for complex problems in the blockchain space.
The speaker encourages developers and engineers to express their ideas and suggestions for improvements, and to propose changes if they have concerns.
The importance of handling critiques and challenges in a constructive manner is highlighted, as it can have a significant impact on the perception and direction of a project like ICP.
Transcripts
good afternoon welcome back to the
channel this video is not Financial
advice I'm not a financial advisor do
your own research make your own
decisions all right guys welcome back so
just heads up this is going to be a
longer video it's going to take me a
while to get through everything and I
might jump off in a million different
directions because this is very broad
complex topic and I've already seen
other people make many of the Common
Sense points that I would traditionally
make in a situation like this so that
was very encouraging and for anybody who
does not know there was a critique put
out on Twitter yesterday about IC from
an individual named Jordan he's been
building on the internet computer for
the last ever since I can remember ever
since I got in ICP uh I've been
following him he's one of the 30 or 40
different technical people that I follow
pretty closely so I do value and respect
his opinion and I appreciate the work
that him and his team have done up until
this point there is some additional
context and perspective I want to add
here and again this is as broad of a
conversation as you could possibly have
because this brings into the
conversation all the complexities
involved with moving from a web 2 model
to a in toin blockchain-based web 3
model and that is as big of a
conversation as anybody could have and I
don't think and pause real quick I'm not
trying to
mischaracterize oversimplify or straw
man his position in any way there will
be times in this video where it probably
seems like that's what I'm doing but
this is just such a broad conversation
was so much Nuance that there's so many
different angles and perspectives that
you could look at this from and there's
so many moving parts that again it would
just be I could talk for the rest of the
the day and you could even bring some
type of technical expert on here and you
probably still wouldn't touch all the
different important aspects of this
okay that being said I do think that for
newer people coming
in I believe in prioritizing research
meaning that I think that if you're a
newer person and you're in your first
few months being in the ICP space I
think knowing everything that you can
possibly know and understand and
comprehend is important and due
diligence and research I can't
overstress the importance of that that
being said if you're studying a new
subject like math or anything there are
certain subjects that are before other
subjects right there's chapters that are
before other chapters for a reason
because the learning process happens on
a gradient right incrementally and
certain information is prioritized over
other information earlier on when you're
learning a new subject and in my opinion
I think the wisest thing to do for newer
people is to research and do your due
diligence on all the limitations that
everything else has compared to ICP
before you start digging into all the
limitations of IP in a
vacuum because what you might do and I
am more so talking I want to be very
specific I am more so talking to newer
people in their first few months could
be your first six months into the ICP
space who do not have a technical
background all right so for that crowd I
think it would make the most sense for
you to fully understand all the
differentiating factors that IP has
compared to everything else and the
significance of that and the use cases
that can spawn off of all this
additional functionality that ICP
has okay and then when you fully get
that and the reason why I'm saying this
is because I watch and listen to people
talk and I can clearly see that there's
a decent amount of people that still
don't fully get and appreciate all the
differentiating factors that exist with
ICP compared to everything else and so
if you skip over that or kind of dis
discount
that and then you start diving into all
the technical limitations of ICP and a
vacuum and you're like oh man well this
was and this is a problem and definity
needs to change this and this isn't
going to work and this isn't going to
scale and this just isn't going to work
and what might happen and this is just a
cautionary message to the group of
people that I'm specifically talking to
here what might happen is you do that to
such a degree that you find yourself on
an inferior Network that has a million
times more limitations than ICP does
wondering how you got there
and for anybody that finds them in that
situation I would argue you lost
perspective so those are my thoughts and
I would look at other people who have
left the ICP space and where they went
the different networks that they went to
go look at those networks okay and
compare those networks to ICP
and ask yourself is the grass
greener ultimately make your own
decisions nothing's ever a sure thing
this is not Financial advice do your own
research but I view the gap between ICP
and all these other layer ones as being
so
extreme
that until I see something else that
even comes close to ICP and still I can
until I can start using applications
that are built into to end on Network
Real World applications that I would use
on a day-to-day
basis then there's not even going to be
a thought in my mind about doing much of
anything because back to points that
I've made and so many things that I'm
going to be saying in this video or
points that I have been making for two
years or more okay because my primary
focus is one on the broader adoption
Trend with blockchain and distribute
Ledger systems and whether or not I
believe that's going to continue and
everything that I've seen up to this
point over the last few years would
suggest to me that that is going to
continue even though nothing's ever a
sure thing and anything could change at
any point in time and so if that is the
direction this is going to go then
within the blockchain industry within
that entire sector right I want to look
for
technologies that are different from
other things in the space and that offer
overwhelmingly more value and
functionality than other things in the
space and that may or may not be
undervalued relative to the rest of the
market and for me it was very clear over
two years ago that the answer was ICP
for a lot of reasons but for the most
basic primary reason which I can't
stress enough if you ignore this you
might find yourself in that situation
that I described
earli you can build applications into
endon ICP as a full stack solution and
you can't elsewhere
not just that I mean there's a million
other things as well okay so out of all
of think about how many different
blockchain networks
exist tons over a 100 think about all
the teams involved that created all
those
Technologies and out of all of those
different blockchain networks and all of
those teams all around the world all of
the expertise all the funding all the
resources all those different teams had
there was one team that was able to
create a full stack solution in end on
chain where you can build and use
applications not just that they can
integrate natively with other networks
and sign transactions on other networks
and that's a whole that opens up a whole
another million doors of possibilities
in my
opinion but out of all the teams and all
the different networks there was one
that you can actually build and use
applications and so as long as the
broader adoption process continues
forward and as long as That Remains the
case as long as I see a giant gap
between ICP and everything else then I
have no reason to even remotely change
my
position so ICP can have current
limitations today and still be light
years ahead of everything else and to
some of Jordan's points so I would
recommend people just going and and
reading his review for
yourself but he's more or less looking
at ICP as it exist today and saying
these are the
limitations and here are the use cases
where this is going to be a problem and
based on these limitations which stem
back to some of them stem back from in
in his point of view architectural and
design issues based on these limitations
these use cases more or less won't be
scalable again don't want to
oversimplify go read it for yourself
it's on Twitter but all the limit ations
that were listed are all ones that I've
been aware of and I think other people
have been aware of too maybe not
everybody but at least those of us who
have been around for a
while and for me personally I fully
expect to see limitations today three
years into a 20 plus year roadmap back
to an earlier point in the video because
the operation the initiative here is as
big as anything that you can take on
Reinventing the web on chain you
understand everything involved with that
because I don't even understand
everything involved with
that I can ballpark it but there's so
many moving Parts
here so I'm looking at this three years
into a 20 plus year road map I fully
expect based on where we are today if
you look at the limitations and
everything as far as how it's set up
right now I'm extrapolating out
expecting new Solutions new
innovation
and let's just say that ICP is not the
most ideal destination for certain use
cases again perfectly fine we've already
had this conversation personally I view
ICP sitting here today March 2024 as
being the best candidate in the world
for a global payment solution especially
when you take into account that you can
build in an identity solution too with
ICP and especially when you take into
account they have a built-in governance
system and so if you were just thinking
about what would a the most ideal
glomate global payment system look
like I think ICP right now could become
the best candidate for a global payment
system and or identity solution which I
think is going to be almost necessary in
the not too distant
future on top of that too there was
actually I don't want to jump ahead um
but there's so many guys I think ICP can
become the biggest thing in the world if
it just is one of the main solutions for
25 to 30% of global of the of the total
use cases that we're talking
about I think it can become the biggest
thing in the world just with that
alone and another part that this
is we're really getting into the Nuance
here so and I've been consistent on this
the entire Channel
right what did I always say going back
two years were some of the last things
that I thought was going to happen on
the new version of the web us fully
transitioning over to in toin
blockchainbased social media platforms
and institutions fully transitioning
over to endtoend blockchainbased
Enterprise systems those have always
been the last two things that I said I
expect to see because of all the
complexities involved with that if you
look at a simple use case payments
payments
theoretically could go live at Mass
adoption scale
sooner than let's say everybody moving
to blockchainbased social media plat
there's just different moving parts and
different complexity involved with
certain use cases at certain
stages and so I view this as being a
gradual incremental process I'm not
thinking with
how are we going to get to mass adoption
within a very short time period on every
single use
case I'm viewing the use cases that are
most Mass adoption ready being Mass
adopted earlier in over time as more
networks continue to build out their
infrastructure as more development
happens as a lot of limitations are
innovated away as the as those
limitations that can't be innovated away
as just other Solutions are created to
serve for that use
case again ICP doesn't have to do every
single use case 100% in to end on ICP to
become the biggest thing in the
world the fact that it's a leading
candidate for so many different use
cases you're casting or at least in my
personal opinion I'm casting the widest
net imaginable as an
investor imagine investing in someplace
where it's only a currency they're only
going for the currency play or they're
only going for the supply chain
play some entire blockchains and cryptos
they're they're literally they have they
they
openly announce that they really just
have one use case one target
market the amount of potential use case
with ICP it's it's growing by the week
okay it's growing by the week think of
that image that a lot of us share just
talking about all the different use
cases that are already available on ICP
right
now that list is just going to grow
you're going to be able to roll it out
the
door meanwhile it's mostly going to stay
the same with everything else because
their core most rudimentary function is
as a database as a ledger as a payment
system as pay rails however you want to
refer
to but it's night and day when you
compare something like that to
ICP and another thing too
definity I think a lot of times people's
default
assumption is that definity should be
openly broadcasting every single thing
that's going on behind the scenes with
development with R&D with potential
corporate Partnerships working with new
institutions right and I I just think
that's unrealistic I me I think based on
the amount of information I think defin
puts out plenty of
information alone but I also understand
the processes involved when
institutions certain software
institutions that I understand Infinity
is a nonprofit and it's more so a dow
based model so there is some you know
some Nuance with that but like I I I
understand the the process of working
with an institution and them potentially
onboarding your software platform and
the amount of confidentiality that comes
along with that and like if if definity
was working with let's say certain
smaller nation states or large
institutions that can't be openly
discussed until both parties agree on
right and so I I do think to some
degree it's a bit naive to
expect definity to just openly broadcast
a lot of things that may not be in their
best interest to broadcast it at that
point in time and it may not be in any
of our best interests as investors as
users at develop as
developers we don't know everything
that's happening with the internal
conversations with a lot of people at
definity and I know definity is not ICP
and I get it I'm just saying that
they're the main contributors to ICP and
they had the largest R&D team in the
blockchain space in the world and we're
not always going to know and be privy to
certain real-time conversations they are
having especially as it relates to
potentially working with governments
corporations so on and so forth because
both parties would have to be in
agreement for certain things to be
announced and shared publicly and that's
just that's not that's just normal
that's the way business is
done and so I do think that there's
probably a lot of things that they
haven't released yet that will be
released in the
future but again I'm looking at this on
a 20-year road map I don't expect
everything to be fully complete and
ready three years in and I've never
remotely suggested that if you just look
at the expectations that I have
generally set for this just as far as my
own Outlook and my own thesis but always
said expect the most basic use cases to
go ready to go live earlier I expect the
more complex use cases that there's more
moving Parts like us all moving over to
web3 social media in to end on chain and
instit tions starting to migrate to inin
blockchainbased Enterprise systems I've
for a very long time I've openly be been
saying I think those are some of the
last things that happen because there's
just mo more moving
parts right but that I expect this to be
a long gradual transitionary
process if you try to do any drastic
things with trying to accelerate
adoption of a techn of of software in a
short period of time and you don't have
the infrastructure in place and you
don't have the scaling Solutions in
place it's just not going to
work you would have to gradually
incrementally build all of those things
out while you're gradually incrementally
onboarding new
people so it happens as a process over a
longer period of time as opposed to all
at
once
but what are your other
options are layer ones where you can't
build and host applications if that's
what you feel like is best for you knock
yourself out I'm just saying that if if
the mindset is well there's a lot of
limitations here with ICP so you know
let's look elsewhere okay cool there's
more limitations
elsewhere in all real
um I personally have no concerns myself
and I think that the current limitations
that exist today that there will be
additional workarounds I think things
like Utopia and specialized subnets are
going to address some of the issues that
were raised um with Jordan and for other
issues that were raised and potential
use cases that that may impact if
certain use cases are not ideal on ICP
four five six seven years from now after
the tech has had an opportunity to
develop evolve innovate after the
infrastructure has continued to be built
out then in my opinion ICP can still
become the biggest thing in the world
even if it's not doing every single use
case 100% in to end on
ICP I've always describe this as a ICP
more so as the Hub but as a lot of
supporting Technologies around ICP
because there's so many moving Parts
there's so many different types of use
cases so much complexity involved with
each one of
those is a very broad conversation but
my money is on the people at definity
that's the largest R&D team in the
blockchain space if there are going to
be Solutions created for complex
problems like the ones that have been
raised I have my money on those guys
okay because they have the most
expertise they have the most Talent and
they just have the biggest R&D team in
the blockchain space
okay
so if certain developers and Engineers
have ideas or suggestions they should
always feel free to express those and
try to propose changes I would be
interested to know if proposals have
already been submitted for this
or if this
critique came before certain
proposals I don't know um I would be
interested in that like has has Jordan
already submitted proposals for this and
they just got rejected and that's why
he's now bringing these issues up
publicly I don't know um but at the end
of the day I'm ultimately going to deci
decide with definity on most technical
issues maybe not all but most technical
issues it depends on the issue
um and guys it's important to look at
people's
expectations right like because that's
that's all personalized to the
individual and I might have this
different expectations than you you
might have different expectations than
Jordan Jordan might have different
expectations than another one of you
know what I mean it's like our Outlook
and what we were expecting out of this
whole entire situation might be
drastically different personto person
based on Research based on prior
conversations we had just based on our
thesis that we thought was going to play
out over time
right and because for somebody who
expected to see limitations three years
in I have no real concerns because I
expected to see limitations three years
in they're actually further along than
what I thought they were going to be in
a number of different areas in all
reality because I
can make sense of the fact that they're
trying to redesign the web
into end on an open Sovereign network
using blockchain technology and just the
the amount the the size of that
operation is just so
massive
that it just warrants a much bigger
conversation with a much broader range
of perspectives in my
opinion um but yeah I'm going to aside
with definity on most technical issues
at the end of the
day um because the way that I look at
this guys is that if there was another
team out there because everybody can
have ideas and suggestions and feedback
but if there was another team out there
that could create a better solution than
ICP do it I want to see
it those are my thoughts on
that um the way certain things are
handled will have an effect this applies
to me this applies to you this applies
to everybody the way you handle certain
things will have an impa impact it will
either be a positive or A negative maybe
neutral but the way certain things are
handled do have an impact ICP does not
need to you to to do 100% of every
single use case to be the biggest thing
in the world in my
opinion and I fully expect the monitored
limitations to be developed SL innovated
away over time and if all of them can't
be then I expect supporting Tech
Technologies to be built around to fill
the
gaps okay but I go back to the core part
of the thesis which is the broader
technology blockchain distribut Ledger
systems moving forward to mass adoption
institutions continuing to adopt this
Tech
and I see ICP as the hub for this and a
lot of other supporting Technologies
around ICP more so as extensions of
Ip and I think this is going to take
place over 20e time period and now that
artificial intelligence is already
starting to be able to
program guys honestly I think any one
person is going to have a difficult time
telling you what's going to what the
future is going to look like I think
we're going to get to the point to where
AI evolves and it's not in the next like
five years I think we're going to get to
the point to where AI evolves to a
certain degree that it's it's going to
be difficult for a normal person to look
and try to forecast out where things are
going to be 5 10 20 years from
now because there's a a variable
involved here that has never existed
before that nobody's ever had to account
for before that can drastically change
most every single aspect of day-to-day
life um when we're talking about
artificial
intelligence and so while I know that
sitting here today March 2024 certain
things like might not look possible or
doable or this or that and the other um
I do think I've Just Seen technology
evolve and develop over time and I was
on dialup as a kid and I'm in my mid-30s
and now there's like I'm looking at what
Boston Dynamics is doing
and I'm looking at open Ai and they can
create videos of events that never
happened with people that don't exist
and those things look real they can
write entire books movie
scripts you look at um what is it Hansen
Robotics and uh Sophia so it it's I've
seen technology progress at a
mindbending pace in my lifetime and I'm
only in my
mid-30s so yes I understand there are
technical limitations sitting here today
but I think think the incentive
structure to move to a model like this
is so great for almost all institutions
and I think that that is reinforced when
you look at the amount of Institutions
starting to use blackchain and
distribute Ledger systems and another
thing too is
that to Jordan's point about he said the
main thing going for
ICP is ownership and then he said within
a three minute period I think it was a
short condensed period he said the main
thing going for ICP is ownership and
then he also said that it would make
sense that where this was all going was
everything being tokenized that that
would make
sense I would
argue that I don't even necessarily
disagree with either one of those two
things they weren't necessarily said in
the same context but so if ownership is
the main thing going for ICP and if
people would assume that we're moving to
an environment where everything is
tokenized
why wouldn't like important assets like
they're digital twins if everything's
going to be tokenized why wouldn't those
important things be stored on chain to
offer true ownership to the
owners seems like a pretty important use
case right do we have any examples of
that oh yes we do with metalore one of
the largest precious metal refiners in
the world
right and so I would imagine the team
metalore did a pretty thorough
evaluation process C when they were
looking at ICP at the architecture at
the
technology I would imagine the people at
Copa did a pretty thorough job when they
were looking at ICP because the VRC
platform is supposed to be a global
platform for a lot of different
institutions not just for cop 28 it's
supposed to be a platform used by
institutions and so I imagine they
have and they did a decent amount of due
diligence when they were looking into
IP
right and
so if somebody were to see everything
going to like a a tokenized economy web
everything and you were to look
at the degree of ownership that's
possible on ICP because everything is
into end on chain and because there's an
open governance system at the network
and the application Level if you were to
believe both of those things to be real
like ownership on ICP and we're moving
to a tokenized economy I don't know how
you don't automatically see ICP as one
of the most ideal
destinations
for those digital Twins and more or less
real world assets to be stored on ICP to
offer true
ownership like that would be that was
the first thing I thought about I was
like well that's automatically that
would make sense why ICP would be used
and it's already being used for very
similar use cases with
metalore not just with that with
ferality
and one more
thing this was the comment kind of made
me have a little bit of a change of
heart if I'm being honest and then I
listened to a few minutes of the spaces
last night and that probably played into
this as well and again I I do respect
appreciate everything Jordan has done
and his team and you know if he does
have I don't know the status of
everything I don't know if he's already
submitted proposals and they've just
been rejected and that's why he's saying
things publicly now um you know Jordan's
always had certain critiques and things
of ICP
but you know I view everything I view
everything in its own like situation
based on like the details
involved
and Jordan's critiques are different
than and just defin is doing a bad job
they need to do something different
right it's like these are more detailed
thorough and many cases they're very
accurate with what he's saying about the
technical limitations that exist right
now um and so I actually
appreciate following him but then again
I have unshakable
conviction there's nothing that Jordan's
going to say on Twitter is going to
cause me to flip bearish on ICP I
wouldn't give a good if he came out
today and posted a two-hour long video
explaining why ICP isn't going to work
and it's destined for failure in the
next six
months I'd probably watch and listen
just to see what the points that he was
making and the validity to them but it
wouldn't make one damn bit of difference
to me so for me I still enjoy following
him because I like to know and
understand the limitations
and the use cases associated with those
limitations but again for newer people I
just defer back to everything I said at
the beginning of my
video um but this was and this is on
that thread if you want to go look at it
for yourself the other gentleman who's
also like a developer software engineer
um Building Solutions on ICP I like that
guy too um he was commenting to Jordan
and then Jordan replied with you know
the the preceding comment which I should
have probably started with that
was more so along the lines of not
everything has to happen on ICP ICP
doesn't have to do everything 100% of
every single use case certain things can
happen with other Technologies ICP can
be utilized for XYZ that was the General
context of what of this comment and so
he said but that was not the vision I
was sold this is not the blockchain
singularity this is not an unbounded
virtual machine look through everything
Dominic said on the purpose of ICP it's
to be a world computer where everything
is run with these bft like guarantees if
it's not a worthy Vision that's another
conversation to
have that is the vision that convinced
me to join the ICP ecosystem now when I
read that okay and I listen to bits and
pieces of the spaces last
night
this when I read that okay okay to some
degree that does seem like certain
expectations were set and now the
reality of the situation does not line
align with the expectations right and
that very much seems like
a Jordan and definity thing um and
whatever prior conversations that they
had for me my expectations
were aligned with Where We Are
right and so that's
why that's why I I couldn't be more
thrilled I couldn't be more bullish and
optimistic for the future because the
expectations I had for 2024 align with
where we
are and if you would have been watching
this channel dating back two years your
expectations would likely align with
what you're seeing right now if you were
watching my
channel that's why like a lot of ogs on
this channel are not going to be shaken
out of ICP um they've seen too much
they've seen this whole thing evolve
from the time that I started covering it
to right now and it's like they're just
not going to be shaken out um
but what I'm seeing today aligns with my
expectations of what I would expect to
see and in all in all reality there are
certain things that are further along
long than what I
expected and but this very much reads
like there were certain
expectations and now the reality of the
situation does not align with those
expectations and there is some degree of
frustration if that's the wrong way to
interpret this okay but that's kind of
how it read to
me because I can look at this as an
investor and say ICP can become the
biggest thing in the world even if it
never even if it never F fully fulfills
the end blockchainbased web 3 Model
blockchain Singularity
Vision it can still become by far the
biggest thing in the world and it can
still be the most important technology
on Earth even without that if it just
consumes and is the main solution for 20
30 40% of use cases globally it's
probably going to be the biggest thing
in the world in my
opinion and I think it
will even if it doesn't check every
single box for every single use
case I don't like a lot of times the
framing that happens not saying that
Jordan did this and I don't think that
he did do this I just seen this
elsewhere um if XYZ does
happen you know if definity doesn't
change this and this and this then this
isn't going to
work I would just throw out a cautionary
message that when you start seeing stuff
like that I'm GNA tell you the
progression it starts with first this is
a problem right and then this is a
problem this is a problem that gets
continued for a period of time and then
it's well this needs to happen to fix
this problem here's the solution for
this
problem and then it's definity needs to
adopt this solution to fix this
problem and then that continues for a
period of time and then it goes to well
if definity doesn't fix this problem
then it's not going to get fixed and
this just isn't going to work that's
normally the natural progression to how
a lot of these conversation start and I
say that as somebody who's been watching
this for two and a half
years I'm not saying that this is the
way that's going to go I'm just saying
be aware of that because what if
definity doesn't change the different
things that Jordan
suggested what
then is everybody going to go to R weave
ethereum salana you know what I mean
it's like what if definity like no we're
not changing anything we're good uh we
got it figured out um at least our part
again definity and ICP are separate but
we've already thought through all all
these things as the largest R&D team in
the blockchain space in the world and
solutions are being created and where we
are right
now the functionality exists to do what
we need to do those later use cases 3
four 5 6 10 years from
now we'll cross that hurdle when we get
there because we've already thought
about that and solutions will be put in
place to make certain things possible
it's like we don't know all the internal
conversations that have happened at
defin and at the end of the day again I
think with artificial intelligence and
the degree to which artificial
intelligence is going to here's the
thing guys artificial intelligence will
be able to do more and more things with
writing software code as this
evolves and at that point in time I
think any one person is going to
probably have their own personal
limitations with telling you what's
going to be possible in 2 3 four 5 years
from now because what's going to be
possible in 5 years from now will
largely be dictated by the advancement
of AI and not by people's
opinions that's all I have for this
video ICP can have current modern day
limitations and still be light years
Beyond everything else and the gap
between ICP and everything else really
be this
but it still have limitations two things
can be true at the end of the day ICP is
the only Network right now where as a
full stack solution you can build and
use applications in to endend on their
Network on an open Sovereign Network
onchain where you have real ownership
where there's governance at the network
and the application Level and so until I
see something that even remotely comes
close to this I have no reason to change
my position that being
said look at this for yourself do your
own research
and come to your own
conclusions this was not Financial
advice I'm not a financial adviser do
your own research take care have a good
day I'll see you in the next video
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