The Inventor of Blockchain On the Future Of Bitcoin | Scott Stornetta

Listen to this episode from Supply Shock on Spotify. In this episode, inventor of blockchain Scott Stornetta joins the show to discuss developing the first digital timestamping system, the key innovations and limitations of Bitcoin’s design, and why Bitcoin has not yet succeeded as real money. We also delve into his critique of proof-of-work, his thoughts on other crypto projects like Ethereum, stablecoins, the importance of creating a digital identity system, and more. Enjoy!—Follow Scott: https://x.com/ScottStornettaFollow Rizzo: https://x.com/pete_rizzo_Follow Supply Shock: https://twitter.com/SupplyShockBWFollow Blockworks: https://twitter.com/Blockworks_Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcxSupply Shock Newsletter: https://blockworks.co/newsletter/supplyshock—Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv—Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.Join Ignition and get onchain: ignition.coredao.org/blockworksStake your Bitcoin with Core: stake.coredao.org/blockworksLedger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.—Timestamps:(00:00) Introduction(01:53) Discovering the Bitcoin White Paper(03:34) The Foundations of Digital Timestamping(07:00) The Evolution of Blockchain and Bitcoin(14:43) Ads (Core, Ledger, Ledn)(16:17) The Evolution of Blockchain and Bitcoin (Con't)(17:46) Challenges and Criticisms of Bitcoin(22:27) The Cypherpunks and Digital Cash(29:42) The Future of Blockchain Technology(39:16) Scaling Bitcoin(42:20) Bitcoin's Economic Value and Success(47:24) Ads (Core, Ledger, Ledn)(49:30) The Role of Stablecoins and Future Cryptocurrencies(01:06:43) Identity and Blockchain(01:14:43) Reflections on Blockchain's Impact and Future—Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.