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By now you may be aware of bitcoin’s origin story that begins following the 2008 financial crisis. The essence of cryptocurrency continues to evolve with every new blockchain technology. It’s an innovative space being fueled with unprecedented energy. In the midst of so many innovations on blockchain, bitcoin continues to stand as a storehouse of value that no other cryptocoin has been able to compete with.

Muneeb Ali is a Pakistani computer scientist with a PhD in computer science from Princeton, co-founder and CEO of Trust Machines. He is co-founded the Stacks project, a unique programming software created to be smart contract layer that sits on top of bitcoin minus the tension. Muneeb is CEO of Hiro, a developer tooling company.

In this conversation Muneeb and Tom discuss the unique attributes that allow bitcoin to stand high above the rest and the likeliness of its usability in a practical marketplace. This is about a deeper understanding to what is incentivizing blockchain, why it’s drawing in so many people, and its implications to web 3.0

SHOW NOTES:

0:00 | Introduction to Muneeb Ali
1:24 | Web 3.0 Explained
6:06 | Decentralized Blockchain
12:58 | Bitcoin’s Incentive Structure
22:01 | Sound Money Revolution
36:05 | DeFi Money Market
47:11 | Crypto Marketplace
55:55 | Future of Crypto Regulation
58:44 | Bitcoin, Smart Contracts, & Stacks
1:13:20 | Bitcoin Usability & Predictions
1:26:44 | Onboarding Cities into Web 3.0

QUOTES:

“It’s like a trustless system that just works without having any central point of control and that’s the key thing that a lot of people get confused about.” [9:13]

“An NFT is not a picture, it’s a picture with matrix code hidden inside of it.” Tom Bilyeu [21:04]

“It’s like open source technology that created money that is not controlled by anyone, and that type of thing has never existed in our society…” [23:04]

“DeFi has 100% visibility into what risk exists in the market and how it’s going to work.” [38:25]

“It’s abundantly clear now to me, especially in the last couple of years, that the rate at which this industry is evolving, regulators just can’t keep up.” [56:17]

“If something is not truly decentralized you’re losing the best property that these systems bring, and bitcoin is by far the most decentralized blockchain out there.” [1:01:49]

“What this is allowing to happen at a financial level is you’re giving me the incentive to learn this and put energy into it.” Tom Bilyeu [1:05:19]

“The only thing that people need to understand about Stacks is that it is simply a two-layer solution on top of bitcoin, so there’s no tension between a money layer and a smart contract layer.” [1:08:05]

Follow Muneeb Ali:
Website: https://muneeb.com/
Twitter: https://twitter.com/muneeb