Blockchain property deeds and wealth liberation

In his under-appreciated classic “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else“, Peruvian economist Hernando de Soto argues that the legal structure of property and property rights is a major determinant of the economic success of a country. “Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system [and this] allowed people everywhere to leverage property into wealth.”

Trillions of dollars of economic value are trapped in informal assets that cannot, for example, be leveraged to secure loans or otherwise bootstrap wealth creation.

Imagine if you had an inexpensive, fraud-proof way to register and regulate these assets? Could this finally be the breakthrough use of blockchain?

Thomas Friedman’s 5 Pieces of Advice for His Daughters


I have five pieces of advice for my daughters. My first rule is: Always think like an immigrant, because we’re all new immigrants to the age of accelerations.

Second, always think like an artisan. Always do your job in a way that you bring so much empathy to it, so much unique, personal value-add that it cannot be automated, digitized, or outsourced, and you want to carve your initials into it at the end of the day.

Third, always be in beta. Always think of yourself as if you need to be re-engineered, retooled, relearned, and retaught constantly. Never think of yourself as finished—otherwise, you really will be finished.

Fourth, always remember that PQ (passion quotient) plus CQ (curiosity quotient) is greater than IQ (intelligence quotient). Give me a young person with a high PQ and a high CQ, and I will take that person over a kid with a high IQ seven days a week.

And last, whatever you do, whether you’re in the public sector or the private sector, whether you’re on the front lines or a manager, always think entrepreneurially. Always think, “Where can I fork off and start a new company over here, a new business over there?” Because a huge manufacturing company is not coming to your town with a 25,000-person factory. That factory is now 2,500 robots and 500 people. So we need three people starting jobs for six; six people starting jobs for 12; 12 people starting jobs for 20. That’s how we’re going to get all those jobs. We need everyone thinking entrepreneurially.