Crypto & DePIN
7 statements · 2018–2018
2018 will be the year of security tokens
Cloud Mobility with Legendary Developer Greg Osuri, Founder and CEO of Overclock Labs (The Silicon Valley Insider Show)
“I think 2018 is going to be the year of security tokens. You’re going to see a lot less utility tokens. I know folks that are getting investigated… My recommendation is folks should really explore more securities than utilities and do it the right way.” — Greg Osuri, 00:23:19
Context: Discussion of Wyoming’s utility-token law; Greg argues selling tokens pre-utility with expectation of return is a security, and mentions Reg A+ as an alternative path.
Endorsement: Loom/Solana solved fundamental scalability and interoperability
Solana: The World's Fastest Blockchain (fireside chat at Node) (Solana)
“I’m really excited about Loom. I mean, I think they’ve solved a lot of fundamental scalability and interoperability problems… the white paper is phenomenal, it just opens up a whole different way of how you think blockchain.” — Greg Osuri, 00:31:44
Context: Greg’s closing endorsement (the whitepaper quote lands at 00:34:38); notable as a pre-rebrand, pre-mainnet call on Solana.
Greg is an early, excited Solana ("Loom") investor
Solana: The World's Fastest Blockchain (fireside chat at Node) (Solana)
“We take time for granted and they embrace that and sort of built a highly scalable, about 700,000 transactions second… very fascinating, excited to be the investor… yeah, they take my money.” — Greg Osuri, 00:00:43
Context: Greg’s on-stage intro of Anatoly Yakovenko in April 2018, nearly two years before Solana mainnet; he coyly confirms he has invested.
2018 is blockchain's 1996-98: no killer app, no browser yet
S1E2 - Greg Osuri (CryptoChange.News)
“We are in like the 98, I would think, of the .com era… or probably even 96. We still don’t have the killer app, except for Bitcoin. We still don’t have the browser for the blockchain, right? Browser being the killer app for the World Wide Web… We still are in the BBS level.” — Greg Osuri, 00:17:34
Context: His dot-com analogy (spans into the 00:18:15 block), paired with the contrarian “I wish Bitcoin did not hit 20,000” (00:16:51) because the price run attracted misaligned speculators; corrections “weed out the bad intent.”
Blockchain will take over the world faster than the web did
S1E2 - Greg Osuri (CryptoChange.News)
“Considering the rate at which these projects are being formed and evolving gives me the confidence that the rate at which blockchain will take on the world is going to be much faster than the worldwide web itself… I’m pretty confident within a year or two, we’re going to see a massive adoption of blockchain.” — Greg Osuri, 00:13:21
Context: He tempers it — “we are in month nine,” usability and performance problems remain — but claims blockchain’s benefits already “rival the worldwide web itself” (quote spans into the 00:14:15 block).
The unstoppable web
"Crypto Stories: A Primer on Distributed Computing with Dani Grant, Dan Desjardins, Chandler Song, and Greg Osuri" (Village Global's Venture Stories)
“One of the concepts we’re working is unstoppable web. Unstoppable web is censorship resistant web that cannot be taken down by any individual other than the beholder of a key. By combining other protocols such as Handshake or an Orchid and us together, we can create an infrastructure where the DNS discovery is decentralized, as well as the runtime is decentralized.” — Greg Osuri, 00:10:15
Context: Greg’s “exploration” track for Akash’s next five years — a fully decentralized web stack; an early statement of the censorship-resistance thesis he repeats in later years.
Smart contracts on Ethereum cost $13,000/MB vs ~$25 on Akash
Serverless Panel: Komal Mangtani, Greg Osuri, Guillermo Rauch, Gwen Shapira (Kong)
“Today, as it stands, it’s unaffordable… give an example: a one megabyte of smart contract on Ethereum network costs $13,000, when on Akash network costs about $25. Any programmer in the right mind wouldn’t deploy a smart contract expected to run… most of the [blockchains] happen to be a monolithic and homogenous architecture, so it’s a socialistic model — everybody shares the costs and somebody has to pay.” — Greg Osuri, 00:20:27
Context: Arguing blockchain compute economics were broken by monolithic architectures treating every application the same; decoupling execution (Akash’s model) fixes cost variance. Captions garble “Ethereum” as “a theorem” and “Akash” as “a u.s.”.