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Watch > Episode > Dr. Muneeb Ali - Unleashing the Bitcoin Beast: Smart Contracts Will Create A More Decentralised Internet

Dr. Muneeb Ali - Unleashing the Bitcoin Beast: Smart Contracts Will Create A More Decentralised Internet


Co-Founder of Stacks & CEO of Hiro

With a New Year upon us, and we couldn’t be more excited about what the next 12 months hold in store, not just for us, but for all of you as well.

We’ve been fortunate to spend time in the company of some of the most innovative and informed minds in the world of cryptocurrency and Decentralised Finance in 2021 and I can promise you that 2022 will be even bigger.

Today’s guest is the ideal person to help get 2022 off to a flying start, as he is one of the preeminent figures in the world of decentralised technology and Blockchain smart contract development. Dr Muneeb Ali is a computer scientist, technology entrepreneur and Bitcoin evangelist who has been making huge waves in the industry since he was a young student at Princeton.

Despite his humble beginnings in Rawalpindi, Pakistan, Dr. Ali has achieved an impressive amount. After completing his early studies at the University of Management Sciences in Lahore, he relocated to the US and earned both an MA and PhD in Computer Science from Princeton that equipped him with the necessary tools to embark on his mission to build a truly decentralised and user-owned internet.

In 2013 that Dr. Ali founded Blockstack, alongside his college friend and business partner Ryan Shea, which is now better-known as Hiro after it’s 2020 rebrand. Hiro is the umbrella platform that allows developers to build the Stacks infrastructure that has seen a rapid rise to become one of the leading decentralised ecosystems in the cryptosphere.

Stacks is a Layer-1 Blockchain technology that is built on top of Bitcoin, and is impressive not least because it potentially solves the much needed challenge of building DeFi applications on the Bitcoin network. Stacks is connected with Bitcoin through a new consensus mechanism called Proof-of-Transfer (PoX) which enables the high-security features of the Proof-of-Work mechanism while still maintaining the high-scalability characteristic of Proof-of-Stake.

It is Muneeb’s life’s work, not only conceiving the Proof of Transfer consensus, but following through on his PhD thesis which centred around this entire project. He has contributed 18 research papers that have been cited thousands of times, and he was nominated for the auspicious ACM SIGCOMM dissertation award. It’s all impressive stuff and when you consider this relatively new protocol has a market cap that has gone over $2.5 billion, it’s time to sit up and take notice.

There is so much more to investigate, which is why I encourage all of you to make sure you tune in for this episode. I for one can’t wait to get the lowdown on how these unique technologies were developed and moreover how it functions and what the plans are moving forward. It’s complex stuff and there’s so much to dive into, and Muneeb is an excellent guide.

Bitcoin is a household name and has held the highest market capitalisation of any cryptocurrency for the past decade and if the Stacks team can awaken that potential using smart contracts as Dr. Ali himself puts it, “we’re going to unlock a monster.”

If you’re keen to unlock your potential earning power and create the kind of generational wealth you’d normally only read about in a New Year self help book, then join my DeFi Academy.

DeFi and the blockchain will completely revolutionise the way we as consumers understand and interact with our money.

It is the reason why my team and I are going all-in and plan on spending the next 10 years teaching, understanding, investing in and profiting from this exciting new marketplace.

So make sure you lock in your spot now and be part of The Greatest Dislocation of Wealth in Human History.

Download clips

A number of clips from this exclusive interview are now available to download, share and repost. Spread the word: grab these clips today!

  1. Don’t be evil
  2. Why Web 3.0 is better than 2.0?
  3. Silicon Valley started feeling like the past
  4. CEOs will have a very different role in the open ecosystem
  5. Getting into crypto back in 2013
  6. Smart contracts will unleash Bitcoin
  7. The flaws in Bitcoin maximalism
  8. A Bitcoin backed stablecoin
  9. The smart contract market cap is the whole internet
  10. We need more crypto developers
  11. Should ETH stick to proof of work only?
  12. It’s impossible for regulators to keep up
  13. The crypto rabbit hole is only getting deeper


00:00 | Trailer.
02:48 | Brian’s introduction.
03:42 | TED Talk – “Don’t be evil” or should it be “can’t be evil”? This question captures the essence of the difference between Web 3 and Web 2.
07:17 | How he explains to people that Web 3 is better than Web 2.
13:38 | How Dr Muneeb Ali became involved in crypto and the challenge to accepted company structure that crypto is presenting.
23:27 | His journey from first connection with Bitcoin in 2013 and the contacts he made in the early days.
28:58 | When he realised this technology would become his work and lead to co-founding Stacks.
36:52 | Stacks’ project on Bitcoin dwarfs any others.
43:59 | Muneeb argues against Bitcoin maximalism.
51:22 | What Stacks is and how it works.
56:57 | The challenge to keep up with other network developments.
1:01:24 | Bitcoin needs to innovate.
1:07:19 | Muneeb Ali’s thoughts on Ethereum.
1:15:47 | Muneeb’s thoughts on regulation and the role of Gary Gensler.
1:22:57 | Biggest challenge for him and Stacks.
1:26:37 | Muneeb’s final thoughts.
1:27:34 | Brian’s summing up.


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