Over the past decade, an alternative digital paradigm has slowly been taking shape at the edges of the internet. This new paradigm is the blockchain. After incubating through millions of Bitcoin transactions and a host of developer projects, it is now on the tips of tongues of CEOs and CTOs, startup entrepreneurs, and even governance activists. Though these stakeholders are beginning to understand the disruptive potential of blockchain technology and are experimenting with its most promising applications, few have asked a more fundamental question: What will a world driven by blockchains look like a decade from now? Learn more: http://www.iftf.org/blockchainfutureslab Contact us: http://www.iftf.org/blockchainfutures…
Cool video. Left out any mention of proof of work though. You can’t separate bitcoin from the blockchain, so any future killer apps will be built on the whole system (bitcoin + blockchain = Bitcoin).
Using bitcoins to highlight the supposed security of this system is laughable considering that last year hackers made off with something like a billion dollars worth of the digital “currency”. Of course, this is all speculation because no one knows what bitcoins are worth, and it’s really just fool’s gold at the moment.
Here we go. A consortium of giant corporate interests have found a way to eliminate government and simply have our tax dollars go directly to our corporate masters. This is good, this is wonderful, this will totally change the way we live! Only the last statement is true. Now our corporate masters will begin having their news services tell us how the banks and business conglomerates are being changed and revolutionized but some how they will still exist and still have successes privately distributed to share holders and failures paid for by tax payers.
But where does the responsibility and accountability lies in case of blockchain? in case of Money banks can be held responsible and they fix the problem but in case of bitcoin if things go wrong there is not one org which can be held responsible and fix things?
Can we kill the idea that Blockchain will enable E-Voting? If there is a verifiable record of how someone votes, history shows that leads to voter intimidation. If you don’t trust that your vote was counted, software isn’t going to save you.
I have just started researching this blockchain business, and I have much more to learn; however, there is one huge, glaring question: All this depends on the internet, but what happens in the event of an EMP attack or violent solar storm in which all electronics, and computers in particular, are fried?
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