What you have occurring in the Ethereum ecosystem right now is a very special moment. We are not just getting to the point that projects are deploying onto main net; we are seeing those projects work together in simple, yet important ways. And I believe that they are laying the groundwork for a new global financial infrastructure.
Just a few examples: Maker announced that they will now partner with Digix and OmiseGo to create Dai with collateralized debt positions of those two tokens. And Dai will soon be a usable stablecoin on OmiseGo and Kyber. Request Network will allow for invoicing in Digix gold tokens. Now imagine more complex dapps one day relying upon the verifiably decentralized computational power of Golem or TrueBit to operate. Or a decentralized media dapp that is designed to work with Basic Attention Token. And many other examples I simply can’t fathom at the moment.
You will start to get just the barest glimpse into the types of interoperability and virtuous, mutual dependency we will see evolve on the Ethereum platform in the coming years.
Cross-collaboration between Ethereum projects is exactly the type of network effect that is going to allow Ethereum to win this nascent smart contract market. Right now, this collaboration is occurring through explicit partnerships, but imagine a world where such partnerships are not necessarily needed. Instead, various services on-chain can rely upon each other, calling each others’ “functions” as needed and integrating them into their own products. Because all of the code is public, each service’s behavior can be perfectly predicted and 100% relied upon, and can be combined together in incredible and impossible to predict ways that create more value than each service could on its own. We are in new and incredibly exciting territory.
What you have being built out right now are equivalent to the basic programming libraries; used by almost every software program in existence- only here, these libraries are dapps that represent powerful financial protocols and user networks that will mutually support one another. This is core infrastructure that will power the next decades of Ethereum’s growth. And you are watching it happen before your eyes.
For those of you who don’t recognize it, this is what the emergence of a very powerful network effect looks like. It cannot be bought. It cannot be manufactured. It can only grow, organically.