Thirty years ago, in 1990, George Gilder wrote Life After Television, predicting the effect of the Internet on the media, society and the economy. Gilder, formerly an economist and speechwriter for Republican politicians, became as interested in technology as in economics.
Ten books later, he has written Life After Google, heralding what he sees as the next big tech revolution, around Bitcoin and blockchain. Speaking at CoinGeek’s London conference, Gilder shared a platform with Craig Wright, the creator of Bitcoin as Satoshi Nakamoto.
Gilder explained how he expects Bitcoin to solve what he sees as two great problems: Internet security and the effect on the global economy of the international money markets. In a CoinGeek Conversations podcast after the event, Gilder reaffirmed his excitement about the potential of Bitcoin and blockchain technologies. “Bitcoin is indispensable to fixing the world’s economy and Internet security,” he said.
Fears around the infrastructure of the Internet could be addressed with blockchain technology: “we’re afraid of foreign routers as if they were weapons of mass destruction or something, or Trojan horses – when they’re full of Western chips and Western architectures and Western software. This paranoia is a technical problem. The blockchain is the solution to a new architecture that establishes a fixed and resilient background state for our networks again.”
The other problem is around personal data and advertising. With the business models of the tech giants, people are paying “through the nose …with distraction, with time – in all sorts of ways”. Bitcoin offers a solution: “the great vision of Bitcoin SV that Craig Wright has launched …is micropayments.”
Gilder believes that the advertising and data-sharing business model of Silicon Valley’s tech giants is vulnerable in the short term to Chinese competitors such as Baidu,