![]() That architectural shift is called distributed consensus - the ability for many untrusted participants in a network to establish consistency and trust.”Īccording to him, the Internet has never had this until now and it will take thirty years to work through all of the things that can be done as a result. “I think they all miss a more fundamental point, which is that crypto represents an architectural shift in how technology works and therefore how the world works. However, while these are interesting arguments, Andreessen stressed, As an example, he gave people seizing on “the money part,” then either glorifying crypto as a new type of monetary system that brings freedom from the nation-state, or “crucify it as a danger to economic stability and the ability for governments to tax.” Meanwhile, in a recent interview with economic blogger Noah Smith, Andreessen compared the topic of crypto with the parable of the blind men and the elephant, allowing people to interpret many different parts in many different ways, or use it to make their point. Today, a16z announced a new USD 2.2bn fund to continue investing in crypto networks. There is an “architectural shift” in technology and in the world brought upon by cryptoassets, which many crypto supporters miss, according to Marc Andreessen, co-founder of venture capital powerhouse Andreessen Horowitz (a16z), and founder of Netscape Communications Corporation.
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