Crypto, an Oral Essay a16z Podcast

This is a special episode of the a16z podcast — it's an audio history, told through the voices of the a16z crypto team, about what crypto is, how it really works, and why it matters. This "innovation overview" is meant as a resource, and it features hallway-style conversations with the a16z team as well as outside experts.

In brief segments, we’ll take you from the ground up — from the basics, to the most current developments, and beyond that to a look at what we might see in the future. 

Here are the topics and voices you'll hear:

The Beginning

Introduction — Zoran Basich, a16z crypto editor
Before bitcoin: previous attempts to create digital money, 1:45 — Dan Boneh, computer science professor at Stanford and a16 advisor 
The core innovations of Satoshi’s white paper, 3:36 — Dan Boneh 
Proof of work, 5:36 — Alex Pruden, chief strategy officer at Aleo Systems and former a16z crypto partner 
Mining and why it’s important, 7:10 — Alex Pruden 
The history of mining, 8:20 — Alex Pruden 
Value in monetary systems, or why bitcoin is worth anything, 9:53 — Arianna Simpson, a16z crypto partner 
Bitcoin as store of value, 11:30 — Arianna Simpson 
Security in crypto, 12:45 — Alex Pruden 

Expansion

Why is it called a blockchain? 14:00 — Eddy Lazzarin, a16z data scientist 
Why the blockchain matters and what you can do with it, 15:09 — Chris Dixon, a16z general partner 
Beyond bitcoin, 17:01 — Eddy Lazzarin 
Ethereum as logical extension of open source, 17:36 — Eddy Lazzarin 
Tokens: What are they? 19:04 — Eddy Lazzarin 
Tokens and the functions they serve, 19:53 — Scott Kupor, a16z managing partner
Tokens and the ownership economy, 21:19 — Jesse Walden, Variant Fund founder, former a16z partner, and Mediachain founder 
What tokens enable for creators, 22:18 — Ali Yahya, a16z general partner 

Right Now

What DeFi means, 23:58 — Eddy Lazzarin 
Yield farming: What is it? 25:16 — Eddy Lazzarin 
NFTs: What they are and why they matter, 27:15 — Linda Xie, Scalar Capital managing director, and Jesse Walden 
Developer ecosystems, crypto, and composability, 30:17 — Jesse Walden 
Decentralized networks, value capture, and what it means for builders, 33:05 — Ali Yahya 

The Future

The big picture, web3, and DAOs, 35:38 — Chris Dixon 

For more crypto resources, please see our Crypto Startup School page, our documentary about the program, and our NFT Canon.

###

The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or