Thoughts on the ICP Twitter Conversation

Summary

The 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

00:00

📢 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.

05:00

🔍 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.

10:01

🤔 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.

15:04

🌐 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.

20:07

💡 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.

25:07

🚀 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.

Keywords

💡ICP

ICP, or Internet Computer Protocol, is a decentralized computing platform that aims to host the next generation of internet services. It is a key focus of the video, with the speaker emphasizing its potential as a full-stack solution for building and running applications on an open, sovereign network. The speaker compares ICP to other blockchain networks and highlights its unique capabilities, such as true ownership and governance at both the network and application levels.

💡Blockchain

Blockchain is a decentralized and distributed ledger technology that allows data to be stored across a network of computers in a secure and transparent manner. In the context of the video, blockchain is the foundational technology behind ICP and is integral to its vision of a new web model. The speaker discusses the transition from web 2 to a blockchain-based web 3 model, emphasizing the complexities and potential of this shift.

💡Web 3

Web 3, or the third generation of the internet, refers to a vision of a decentralized, blockchain-based online environment where users have more control over their data and interactions. The video positions ICP as a key player in facilitating this transition, with the potential to redefine the web through its unique capabilities and infrastructure.

💡Decentralization

Decentralization refers to the distribution of power, authority, or functions away from a central location or single point of control. In the video, decentralization is a core theme, with ICP being praised for its ability to offer a decentralized platform that enables true ownership and governance for users and applications.

💡Tokenization

Tokenization is the process of converting rights to an asset into digital tokens on a blockchain, which can then be traded or used as a form of proof of ownership. The video discusses the potential for ICP to become a hub for tokenizing real-world assets, providing a platform for true ownership and asset management in a digital environment.

💡Governance

Governance in the context of blockchain refers to the mechanisms and processes by which decisions are made about the platform's development, operation, and rules. The video highlights ICP's built-in governance system as a differentiating factor, allowing for community-driven decision-making and ensuring that the network evolves to meet the needs of its users.

💡Use Cases

Use cases refer to specific applications or ways in which a technology can be employed to solve real-world problems or meet particular needs. In the video, the speaker discusses various use cases for ICP, emphasizing its versatility and potential to support a wide range of applications, from global payment solutions to social media platforms and enterprise systems.

💡Limitations

Limitations refer to the constraints or weaknesses inherent in a system or technology. The video acknowledges the current limitations of ICP, such as scalability issues and technical challenges, while also expressing optimism that these will be addressed over time through innovation and development.

💡Research

Research in this context refers to the investigation and analysis of information to form a comprehensive understanding of a subject or technology. The speaker emphasizes the importance of conducting thorough research and due diligence when evaluating ICP and other blockchain technologies, especially for newcomers to the space.

💡Innovation

Innovation refers to the introduction of new ideas, methods, or products that create value or offer a significant improvement over existing solutions. The video positions ICP as a platform that fosters innovation, with the expectation that new solutions will emerge to address current limitations and expand its capabilities.

💡Artificial Intelligence

Artificial Intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. In the video, AI is mentioned as a factor that will significantly influence the future of technology, including the development and evolution of blockchain platforms like ICP.

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