Balaji Srinivasan, tech entrepreneur, angel investor, and author of The Network State, says that to fight the “giant monster” that is the US federal government, supportive governance Balaji Srinivasan, angel investor and author of “The Network State,” said that the proverbial “giant robot” of supportive governing institutions and crypto proponents is needed to fight the “giant monster” that is the US federal government. The former CTO of Coinbase also said that he would release an update “soon” on the ongoing million-dollar bitcoin bet, noting that “the reason I did it was to bring attention to this crisis.”
Balaji envisioned the downfall of Fiat in Europe and the US, promoting face-to-face meetups to build trust
emphasized to attendees that difficult economic and social changes are coming, but also expressed optimism that a large community focused on crypto and the “state of the network” is already providing tools to weather the storm.
Asked by Bitcoin.com News what the next realistic steps are on the road to setting up a network state and what work is being done, Srinivasan stressed that the Fiat crisis attracts people to decentralization due to “lack of trust in the world” While noting that society still needs some trust to function at the primary level, he elaborated:
decentralization and then re-decentralization, but by consensus. But these changes may come very quickly, so we need to think ahead.
The author states that he is working on a sequel to his book “The Network State” and an accompanying video because “what we thought would come in 10 years may come in a few years.”
“I might fund more DAOs, Network State, etc., but a lot of it is kind of a parallel effort. Srinivasan points out. ‘I’m glad that this is happening, because it’s a very good thing that it’s happening, and I think it’s a very good thing that it’s happening. And the biggest part of it is that physical meetings build a community with a high level of trust. People get to know each other, they get to meet and get to know each other in person. And that is the seed for rebuilding things afterwards.”
Regarding the hard physical lockdown of recent years, which was described as medical by the mainstream media, the angel investor emphasized that “the network state is, in part, a recipe for a ‘new normal.'” Later, in Q&Session, he explained:
they try to block the way out by introducing capital controls, wage controls, price controls, and CBDC. This is in some ways easier to implement than a physical lockdown. Digital lockdown is an alternative to freedom, cryptocurrency, and bitcoin, and I believe that this is what the country is all about.” He continued:
The next step is not to simply think of it as state versus network, but to think of the network as the smart people in the state, such as Naib Bukele and Dubai… I think it’s about working with the red states and the purple states (U.S.).
“Search for jurisdictions like El Salvador. Find jurisdictions like Palau. Find places where the state actually supports the network. That way you can get national support and get the government on your side. The author brought up the Hollywood movie “Pacific Rim” and pointed out that humans could not resist the giant monsters that emerged from the sea:
Now this giant monster has emerged from the sea. It is the U.S. federal government. It attacks the crypto banks, it attacks the technology banks… It is attacking every part of the future and is launching an all-out assault on us.
He continued: “We cannot fight against the government, either as individuals or as a company. To defeat this huge monster, we need a huge robot, our own superior robot. We need our own government. We need a good nation fighting a bad nation.” Now it’s sovereign vs. sovereign.
While many supporters of Bitcoin and crypto freedom hold the view that there is no such thing as a “good state” as traditionally understood, since even taxation is a form of theft, Srinivasan nevertheless says that the average individual needs the “HP” and power of government layers of action.
After speaking at Pragma Tokyo about a $1 million bitcoin bet he is currently making, the tech entrepreneur explained at the summit: “I will report on this bet in the coming days. Of course, I think it will be satisfactory for everyone. The reason I did it is to call attention to this crisis.”
Image Credits: Shutterstock, Pixabay, Wiki Commons, Balaji Srinivasan, Graham Smith.