Blockchains are new technology layers that rewire the Internet and threaten to side-step older legacy constructs and centrally served businesses. At its core, a blockchain injects trust into the network, cutting off some intermediaries from serving that function and creatively disrupting how they operate. Metaphorically, blockchains are the ultimate non-stop computers. Once launched, they never go down, and offer an incredible amount of resiliency, making them dependable and attractive for running a new generation of decentralized services and software applications.
The Business Blockchain charts new territory in advancing our understanding of the blockchain by unpacking its elements like no other before. William Mougayar anticipates a future that consists of thousands, if not millions of blockchains that will enable not only frictionless value exchange, but also a new flow of value, redefining roles, relationships, power and governance. In this book, Mougayar makes two other strategic assertions. First, the blockchain has polymorphic characteristics; its application will result in a multiplicity of effects. Second, we shouldn’t ask ourselves what problems the blockchain solves, because that gives us a narrow view on its potential. Rather, we should imagine new opportunities, and tackle even more ambitious problems that cross organizational, regulatory and mental boundaries.
A sharing session by Andreas Antonopoulos* in Berlin on 29th March 2016, Thoughts On The Future of Money.
If you got time, the whole presentation till 20:21 minutes is worth it. The rest is Q&A session.
If you want to get the whole picture of why the Bitcoin movement, the info shared from 17:20 – 20:21 is good enough, to save you some time.
As an engaging public speaker, teacher, and writer, Andreas make complex subjects accessible and easy to understand. In this video sharing below, Andreas uses the analogy of Lego and fast food burger to illustrate the Blockchain technology as compared to our current banking system.
It is a platform that guarantees certain trust functions. If you happen to have a platform that guarantees certain trust functions, one very useful application for that is to build a currency, and a payment network. But you can build more things.
It’s a perspective of how you look at things because from an abstract perspective, Lego is messy.
Cooking is a perfect combination of art and science.
The point is unleashing creativity by giving me the tools and the elements I need to build something unique.
This is a set of ingredients (Blockchain technology) and you have one recipe (which is Bitcoin) but you can make a different recipe.
Hashlock time contract + multiple payment channels connected together = Lightning Network
We are trying to unleash the creativity of an entire generation.
We are building a system on top of which, a thousand applications that require trust can be built.
When you have the ingredients, when you have these basic elements, what recipe you build is entirely up to you.
We subject ourselves to this mechanism that has streamlined itself. They have built a system that can only do one thing, enslave us, impoverish us.
That system removes freedom in the most possible to deliver profit.
* As a bitcoin entrepreneur, Andreas has founded a number of bitcoin businesses and launched several community open-source projects. He is a widely published author of articles and blog posts on bitcoin and is a frequent speaker at technology and security conferences worldwide.
It is a space that had existed for only 7 years. It does represent something truly revolutionary.
All of these things are true but we don’t really know how this is going to play out.
Sitting in the front row of history. Observing history in the making.
What is bitcoin? What is the blockchain?
Bitcoin is the first blockchain.
Bitcoin is the largest open global blockchain that exists today.
Bitcoin is the first borderless, transnational, open system of access for financial payments and trust that enables innovation without permission, with high resistance to censorship, coercion and geopolitical manipulation.
Bitcoin is a mathematical prove system that is fundamentally neutral to participants. It exhibits the principle on the internet that we called net-neutrality and bring that to finance, which of course, terrifies people.
Finance without concern for a source, destination, or amount?
Neutral routing of transactions?
Equal for everyone?
That idea is terrifying. Where does authority come from? Where does trust come from?
It’s almost as if suddenly we no longer pay attention to, the New York Times, and instead, anyone can publish their opinion without an editor. What will the world come to?
What the internet did for communication, bitcoin is doing for finance.
It is introducing a fundamentally different network centric and flex system that allows us to do transactions without recourse to authorities or intermediaries and that derives trust from the collaboration and computation of thousands of nodes. It uses a blockchain. The blockchain is one of the several components that make bitcoin works. And if you focus too much on blockchain you may miss the point.
This is a very good and informative video produced by Manuel Stagars. The goal of this film is to encourage the conversation about the economic and social impacts of blockchain technology.
Despite its mysterious beginnings, the blockchain may be the airplane of our time.
Economist and filmmaker Manuel Stagars portrays this exciting technology in interviews with software developers, cryptologists, researchers, entrepreneurs, consultants, VCs, authors, politicians, and futurists from the United States, Canada, Switzerland, the UK, and Australia.
The documentary is divided into 7 sections:
1. First Contact With The Blockchain
2. Blockchain Technology
3. Influence of the Blockchain
4. New Business Opportunities
5. The Blockchain and Banks
6. The Blockchain and Financial Inclusion
7. The Real Revolution
8. The Blockchain and Us
Professor, Distributed Computing Group, Swiss Federal Institute of Technology (ETH)
“For me, part of the fascination is that we don’t yet know exactly what this thing is, and yet there are still lots of people getting around it. I thought of it as it’s like a space rock that crashed on Earth. You have a bunch of people that gather around and all pointing to it, what this thing is? You don’t really know what it is but it is still very interesting.”
Blockchains are military grade cryptography.
“We are really seeing a new way of transacting value on the internet.”
Co-Founder & CEO, Lightning
San Francisco, USA
What matters to people is what they can do with the technology.
“I think within 20 years, financial services will be just software and the smart contract technology, in particular, is going to automate a lot of things that institutions and people handle today.”
Chairman of the Board & President at Symbiont.io
New York, USA
“”When they saw the whole opportunity, they are ready to change, hey I don’t understand everything but I understand there’s something behind, so we really need to go forward.”
Partner, Deloitte Switzerland
What prosperity offers you, is independent.
“We are at the cross road here. We have the graviton now to create the technology that will actually help the entire human race. The question is, will we do it? But we can do it now.”
Founder & Managing Director, Agentic Group
New York, USA
Bitcoin is definitely not just something for people to speculate and to make money through its volatile price movement. There is more to this crypto currency. We had gone through quite some video info and we think the 3 videos that we are going to share in this post are among the best for anyone to get a full picture on cryptocurrency, bitcoin, the blockchain, and the possible future where these technologies can bring us into.
We need to know the philosophy of Bitcoin, categories of money and how we get into the current financial mess. The blockchain is the main thing not to be missed. It is the web, all over again.
In order to understand Blockchain, we should to take a look into Bitcoin, which is one of the most successful Blockchain application at the time of writing.
In this talk, Andreas speaks about Bitcoin as a system of commerce that is the culmination of decades of research into cryptography and digital currencies, and how it achieves digital scarcity through proof-of-work and decentralized consensus. He argues that Bitcoin is powerful because it is where the laws of mathematics prevail to deliver robust security, financial autonomy, and censorship resistance.
The explanation about what is blockchain might be a bit technical in this embedded video. However, you should be able to understand at least something from it. We consider the explanation in the video below is pretty much on the intermediate level. A little bit of programming background might help.
This is a very basic visual introduction to the concepts behind a Blockchain. Published by Anders Brownworth on Nov 5, 2016.
As you can see, the idea of an immutable ledger was introduced using an interactive web demo. If you are interested in playing with this on your own, it is available online at: http://anders.com/blockchain
Once you went through above video with some basics on the technical aspect, you may want to check out this video by Siraj Raval which was published on Jun 9, 2017.
Use case #1: Giving datasets and models a reputation
Use case #2: Peer to peer Model training
Use case #3: AI-run Companies!
This video also goes through a little bit of demonstration by building a Blockchain in Python.
In summary, we barely have begun to explore what happens when we use the blockchain as a way to improve our AI:
– Help verify data + model quanlity
– P2P exchanges
– Entirely new business models
– AI based companies, create independent organizations run entirely by AI
Enjoy the video!
All in all, Blockchain will disrupt industries that require a check and balance procedure. It could also do away anything that requires the middlemen.
To illustrate what kind of disruptive innovation we are talking about when it comes to Blockchain Technology:
The blockchain will do to banking what the internet did to media.
And perhaps the most exciting thing blockchain can do at the moment would be ICO, something similar to conventional IPO yet bypassed all the procedure of conventional financial and banking system.
The future is uncertain but promising.
Though it’s kinda A-List content, it’s worth a view if you willing to spend some 9 minutes+ of your time to know further about Blockchain.
The blockchain is a distributed ledger technology that underlies cryptocurrencies like Bitcoin. It provides a way to record and transfer data that is transparent, safe, auditable, and resistant to outages. The blockchain has the ability to make the organizations that use it transparent, democratic, decentralized, efficient, and secure. It’s a technology that holds a lot of promise for the future, and it is already disrupting many industries.
1. Banking & Payments
2. Cyber Security
3. Supply Chain Management
5. Networking & IoT
7. Private Transport & Ride Sharing
8. Online Data Storage
12. Public Benefits
14. Energy Management
15. Online Music
17. Real Estates
19. YOUR Industry
The invention of the blockchain has given rise to a new species of currency, that of crypto currency. Existing innovations in the cryptocurrency space foreshadow the potential that currencies could be designed as such to not only act as currencies but represent other forms of value as well.
Decentralized, which implies a trust-less and distributed network, made possible through blockchain-based technology.
Image source: https://www.coindesk.com/origins-money-darwin-evolution-cryptocurrency/