By: Michael Nadeau, Director of Ecosystem Strategy
It’s fascinating to see the parallels between how the internet was constructed and what we see today in crypto.
One of the big moments for the internet came in 1983 when the Domain Name System was conceived.
After a decade of growth while using a string of #’s to identify websites (data & information), it became clear that a move away from the system of #’s was necessary. We needed to start making websites human readable.
Websites needed *identity.*
After we developed the ability to assign websites to human readable words, we began to see an explosion of growth in the internet. Households and businesses began adopting the technology that was previously only used by governments and universities.
Fast forward to today in crypto.
Bitcoin address: bc1qghetd4g3lk7qnsn962amd9j92mkl4388zxz0jz
Ethereum address: 0x084fcd3D9318bAa383B9a9D244bC0c32129EE20E
Similar to the internet, we are now 12 years in and beginning to experience hyper growth. We need *identity.*
This is a sore subject for the folks in crypto that believe pseudo-anonymity is the only way to go. Privacy chains like Z-Cash and Monero can serve this small subset of the industry.
But for real businesses and mainstream adoption, we need to move to human readable identity.
The good news: this is being built today.
It’s all happening on Accumulate.