AVC: The Golden Age Of Open Protocols

screen-shot-2016-02-24-at-10-42-13-am-728x369Open protocols are at the heart of many of the most important systems that we have. The Internet works because of TCP/IP. The web works because of HTTP. Email works because of SMTP. These are open systems that developers can build applications on top of. There are plenty of proprietary protocols out there too. But proprietary protocols tend to lock in users and drive value to the owners of the proprietary protocol, like Microsoft, Apple, Google, etc.

One of the problems we have had in tech is that there aren’t large monetary incentives to create and sustain open protocols. If they are open they cannot be easily monetized by traditional means. However, that is changing with the emergence of blockchain technology and crypto-tokens.

Source: The Golden Age Of Open Protocols – AVC

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