Recently, former Goldman Sachs executive Raoul Pal talked about a crypto project that describes itself as “the world’s first frictionless blockchain with web speed and internet scale.”
The Internet Computer ($ICP) “extends the functionality of the public Internet so that it can host backend software, transforming it into a global compute platform.” Using the Internet Computer, “developers can create websites, enterprise IT systems and internet services by installing their code directly on the public Internet and dispense with server computers and commercial cloud services.”
This project is being built, promoted, and maintained by the DFINITY Foundation, which is “a not-for-profit scientific research organization based in Zurich, Switzerland, that oversees research centers in Palo Alto, San Francisco, and Zurich, as well as teams in Japan, Germany, the UK, and across the United States.”
“This project is clearly the biggest in ambition of any project in the space cause it’s basically saying, ‘Here’s an entirely new architecture for the internet that is driven by cryptography and is scalable beyond anything that exists currently today.’ It’s faster than all the other blockchains...
“People are pretty cynical about it, but let’s see… The investors in this are some serious investors. A16z, Polychain Capital… so let’s see. Give them the benefit of the doubt, and do your homework… That’s what I’m doing with this. I talked to Dominic Williams (president at Dfinity), he couldn’t explain it to me. All I know is it’s big, and it’s complicated, and if he can’t explain it very well, it’s going to take a while to get adoption. That’s okay.“
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