From Gutenberg to Blockchain, Part 3

Abraham George Macro Musings

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Read Part 1 and Part 2 if you have not already.

Most inventions are born out of sheer necessity, cliched as it sounds. The atom bomb had to be invented to thwart Adolf Hitler and the Axis Alliance. It killed thousands of people in Japan and the repercussions of the havoc it created still lingers on. But if Hitler was not stopped in his tracks, either most of us would not be living now or we would be living in a very different world today.

Similarly, computers were looking to communicate with one another in the 1970s and 1980s. The innovators then were busy developing the protocols that serve as the foundation for every e-mail, text message, file transfer and phone call. These became the building blocks of Web 1.0. It was the beginnings of the World Wide Web and there was no centralized organization controlling it.

As time went on, after the dotcom bubble in 2000, many new companies emerged on the back of the above mentioned invaluable protocols. Out of that came Amazon, Netflix, Google, Facebook and Apple. Collectively, they created the modern internet that we now call as Web 2.0. They all had one thing in common. They created applications that run on top of these fundamental protocols further improving the internet. Developments in chip manufacturing, data transmission and telecom & media technology only helped these companies to capture most the value that they created. Company executives and early investors into these companies made life changing generational wealth. While the power and wealth of the above mentioned and many other similar companies started to become concentrated, another stock market crash (this time global) led to more independent thinking.

The horrors of the banking sector forced the libertarians and maverick technologists to develop a tech stack that is more decentralized, more distributed. Central banks consistently devalue our wealth through excessive money printing and inflation. Out of these necessities, emerged the blockchain. Bitcoin became the first digital cryptocurrency and literally had to invent the blockchain technology in order to implement the Bitcoin network. While, I had never invested in Bitcoin, I was fascinated by blockchain.

It was around mid 2017 that I got really interested in a company called Tanla Platforms (then called Tanla Solutions). I soon found out that they used Blockchain or Distributed Ledger Technology (DLT) for their product Trubloq. I decided to learn more about Tanla and blockchains. At that time, many I spoke to were equally clueless about blockchains - what it is or what it does.

Tanla claims to be the biggest use case in the world based on transaction volume. I have not independently verified this but I have no reason not to believe that either. Tanla as a company has over-delivered on their promises so far. As rest of the market is looking weak in India today, Tanla is just roaring up ahead of its quarterly results.

So, here we are in Web 3.0 where blockchain technology will mint the next generation of multi-millionaires and billionaires. Early investors in this space will be richly rewarded.

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Abraham George is a seasoned investment manager with more than 40 years of experience in trading & investment and portfolio management spanning diverse environments like banks (HSBC, ADCB), sovereign wealth fund (ADIA), a royal family office and a hedge fund.

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