Asking “What problems do blockchains solve?” is like asking “What problems does steel solve over, say, wood?” You can make a building or railway out of either. But steel gave us taller buildings, stronger railways, and more ambitious public works at the outset of the Industrial Revolution. With blockchains we can create networks that are fairer, more durable, and more resilient than the networks of today.
問「區塊鏈解決了哪些問題？」就像問「鋼材相較於木材解決了哪些問題？」你可以用兩者來建造建築物或鐵路。但是鋼材在工業革命初期為我們帶來了更高的建築物、更強壯的鐵路和更具野心的公共工程。透過區塊鏈，我們可以創造比今天的網絡更公平、更持久和更具彈性的網絡。
Blockchain networks combine the societal benefits of protocol networks with the competitive advantages of corporate networks. Software developers get open access, creators get direct relationships with their audiences, fees are guaranteed to stay low, and users get valuable economic and governance rights. At the same time, blockchain networks have the technical and financial capabilities to compete with corporate networks.
區塊鏈網絡結合了協議網絡的社會效益和企業網絡的競爭優勢。軟件開發人員可以獲得開放的訪問權限，創作者可以與其觀眾建立直接關係，費用保證保持低廉，用戶可以獲得有價值的經濟和治理權利。同時，區塊鏈網絡具有與企業網絡競爭的技術和財務能力。
Blockchain networks are a new construction material for building a better internet.
區塊鏈網絡是建構更好互聯網的新型建材。
Seeing the Truth
看見真相
New technologies are often controversial. Blockchains are no exception.
新技術往往具有爭議性，區塊鏈也不例外。
Many people associate blockchains with scams and get-rich-quick schemes. There is some truth to these claims, as there was truth to similar claims about tech-driven financial manias of the past, from the railroad boom of the 1830s to the dot-com bubble of the 1990s. The 1990s were full of spectacular failures, such as Pets.com and Webvan. The public discussion mostly focused on IPOs and stock prices, but there were also entrepreneurs and technologists who looked beyond the ups and downs, rolled up their sleeves, and built products and services that eventually delivered on the hype. There were speculators, but there were also builders.
許多人將區塊鏈與詐騙和快速致富計劃聯繫在一起。這些說法有一定的真實性，就像過去科技驅動的金融狂熱一樣，從19世紀30年代的鐵路繁榮到1990年代的互聯網泡沫。1990年代充滿了壯觀的失敗案例，如Pets.com和Webvan。公眾討論主要集中在首次公開募股和股價上，但也有企業家和技術人員超越了起伏，卷起袖子，建立了最終實現了炒作的產品和服務。有投機者，但也有建設者。
Today, the same cultural divide exists around blockchains. One group, which I call the casino, is often the much louder of the two, and it is primarily interested in trading and speculation. At its worst, this culture of gambling has led to catastrophes like the bankruptcy of the crypto exchange FTX. This group gets most of the media attention, which influences the public image for the entire category.
今天，區塊鏈周圍仍然存在著相同的文化分歧。其中一個我稱之為賭場的群體通常是兩者中更為喧鬧的一方，它主要關注的是交易和投機。在最糟糕的情況下，這種賭博文化導致了像加密交易所FTX破產這樣的災難。這個群體獲得了大部分媒體的關注，這影響了整個類別的公眾形象。
The other group, which I call the computer, is the far more serious of the two, and it is motivated by a long-term vision. This group’s practitioners understand that the financial aspects of blockchains are only a means to an end, a way to align incentives toward a larger goal. They realize the real potential in using blockchains is to build better networks, and therefore a better internet. These people are quieter and don’t get as much attention, but they are the ones who will have lasting effects.
另一個我稱之為「電腦」的群體，是兩者中更為嚴肅的一方，並且他們受長期願景的驅使。這個群體的從業者明白區塊鏈的財務層面只是達成更大目標的手段，一種將激勵因素對齊於更大目標的方式。他們意識到區塊鏈的真正潛力在於建立更好的網絡，進而打造一個更好的互聯網。這些人比較低調，並且沒有那麼多關注，但他們才是將產生持久影響的人。
This isn’t to say the computer culture isn’t interested in making money. I work in venture capital. Most of the tech industry is profit-driven. The difference is that real innovation takes time to generate financial returns. That’s why most venture capital funds (ours included) are structured as ten-year funds, with purposefully long hold periods. Producing valuable new technologies can take up to a decade and sometimes longer. Computer culture is long term. Casino culture is not.
這並不是說電腦文化對賺錢不感興趣。我在風險投資領域工作。大部分科技產業都是以盈利為目標。不同之處在於真正的創新需要時間才能產生財務回報。這就是為什麼大多數風險投資基金（包括我們的基金）都是以十年為期限，並且有著特意長的持有期。創造有價值的新技術可能需要長達十年甚至更長的時間。電腦文化是長期的，而賭場文化則不是。
問「區塊鏈解決了哪些問題？」就像問「鋼材相較於木材解決了哪些問題？」你可以用兩者來建造建築物或鐵路。但是鋼材在工業革命初期為我們帶來了更高的建築物、更強壯的鐵路和更具野心的公共工程。透過區塊鏈，我們可以創造比今天的網絡更公平、更持久和更具彈性的網絡。
Blockchain networks combine the societal benefits of protocol networks with the competitive advantages of corporate networks. Software developers get open access, creators get direct relationships with their audiences, fees are guaranteed to stay low, and users get valuable economic and governance rights. At the same time, blockchain networks have the technical and financial capabilities to compete with corporate networks.
區塊鏈網絡結合了協議網絡的社會效益和企業網絡的競爭優勢。軟件開發人員可以獲得開放的訪問權限，創作者可以與其觀眾建立直接關係，費用保證保持低廉，用戶可以獲得有價值的經濟和治理權利。同時，區塊鏈網絡具有與企業網絡競爭的技術和財務能力。
Blockchain networks are a new construction material for building a better internet.
區塊鏈網絡是建構更好互聯網的新型建材。
Seeing the Truth
看見真相
New technologies are often controversial. Blockchains are no exception.
新技術往往具有爭議性，區塊鏈也不例外。
Many people associate blockchains with scams and get-rich-quick schemes. There is some truth to these claims, as there was truth to similar claims about tech-driven financial manias of the past, from the railroad boom of the 1830s to the dot-com bubble of the 1990s. The 1990s were full of spectacular failures, such as Pets.com and Webvan. The public discussion mostly focused on IPOs and stock prices, but there were also entrepreneurs and technologists who looked beyond the ups and downs, rolled up their sleeves, and built products and services that eventually delivered on the hype. There were speculators, but there were also builders.
許多人將區塊鏈與詐騙和快速致富計劃聯繫在一起。這些說法有一定的真實性，就像過去科技驅動的金融狂熱一樣，從19世紀30年代的鐵路繁榮到1990年代的互聯網泡沫。1990年代充滿了壯觀的失敗案例，如Pets.com和Webvan。公眾討論主要集中在首次公開募股和股價上，但也有企業家和技術人員超越了起伏，卷起袖子，建立了最終實現了炒作的產品和服務。有投機者，但也有建設者。
Today, the same cultural divide exists around blockchains. One group, which I call the casino, is often the much louder of the two, and it is primarily interested in trading and speculation. At its worst, this culture of gambling has led to catastrophes like the bankruptcy of the crypto exchange FTX. This group gets most of the media attention, which influences the public image for the entire category.
今天，區塊鏈周圍仍然存在著相同的文化分歧。其中一個我稱之為賭場的群體通常是兩者中更為喧鬧的一方，它主要關注的是交易和投機。在最糟糕的情況下，這種賭博文化導致了像加密交易所FTX破產這樣的災難。這個群體獲得了大部分媒體的關注，這影響了整個類別的公眾形象。
The other group, which I call the computer, is the far more serious of the two, and it is motivated by a long-term vision. This group’s practitioners understand that the financial aspects of blockchains are only a means to an end, a way to align incentives toward a larger goal. They realize the real potential in using blockchains is to build better networks, and therefore a better internet. These people are quieter and don’t get as much attention, but they are the ones who will have lasting effects.
另一個我稱之為「電腦」的群體，是兩者中更為嚴肅的一方，並且他們受長期願景的驅使。這個群體的從業者明白區塊鏈的財務層面只是達成更大目標的手段，一種將激勵因素對齊於更大目標的方式。他們意識到區塊鏈的真正潛力在於建立更好的網絡，進而打造一個更好的互聯網。這些人比較低調，並且沒有那麼多關注，但他們才是將產生持久影響的人。
This isn’t to say the computer culture isn’t interested in making money. I work in venture capital. Most of the tech industry is profit-driven. The difference is that real innovation takes time to generate financial returns. That’s why most venture capital funds (ours included) are structured as ten-year funds, with purposefully long hold periods. Producing valuable new technologies can take up to a decade and sometimes longer. Computer culture is long term. Casino culture is not.
這並不是說電腦文化對賺錢不感興趣。我在風險投資領域工作。大部分科技產業都是以盈利為目標。不同之處在於真正的創新需要時間才能產生財務回報。這就是為什麼大多數風險投資基金（包括我們的基金）都是以十年為期限，並且有著特意長的持有期。創造有價值的新技術可能需要長達十年甚至更長的時間。電腦文化是長期的，而賭場文化則不是。
