When Facebook Hires a Blockchain Engineer, The Suits Bring in The Track Pants

Cryptocurrency Is the niche ecosystem where the suits have to talk to the track pants to find out what’s going on. Facebook has hired a Blockchain Director of Engineering, and a guy named Olaf comes to the studio wearing track pants and white sneakers looking like he came straight from the gym, and I forgot to mention, he’s 28 and turned 4 million dollars into a billion dollars.

You gotta love the world of blockchain and cryptocurrency. Olaf Carlson-Wee founder of Polychain Fund, gives the centralized news the scoop, intimidates them with his knowledge in his unassuming way, and proves he is not only an enthusiast, but an evangelist who will convert others to crypto. He's even revolutionizing fashion on the news.

When people see they may be using a “Zuck Buck” from a Facebook blockchain, it puts cryptocurrency into their lives on a practical daily basis sooner than later.

Not surprisingly, Facebook has eased up on the ban it placed on crypto advertising.

When Olaf became the first hire at Coinbase in The San Francisco Bay area in 2011, he was paid exclusively in bitcoin for 3 years. He then started The Polychain Fund in his bedroom.

When the centralized legitimizes the decentralized it’s like a 1960’s counterculture flashback, to a new counter financial and technological culture that is being embraced cautiously and reluctantly.

Being on the leading edge, the suits must talk to the track pants in their niche arena and feel uncomfortable.

Olaf says there has been an exodus of talent from Facebook who are starting cryptocurrency startups, due to the remarkable growth and pace of the blockchain technology since 2011.

Facebook’s old business model was akin to Facebook extracting rent from users for their services with an adversarial relationship existing between shareholders and users. But cryptocurrency has brought the second business model where the users are the owners of the blockchain and the wealth creation is for the user/owners, like Steemit.

And the punchline - wait for it, watch the whole interview - is at the expense of the biggest suit ever at JP Morgan Chase!

Youtube video credit = CNBC Africa Cryptotrader