10. Three Takeaways!
1. The disruption of Money is just the beginning!
2. Early days.. The early 90’s of the internet.
3. Immutable reflection of ownership and history
of ‘something’ offers new ops and business
models!
Blockchain…. What is the hype?
In 2015 discovered bitcoin
Working for NAB up until last november.. Co lead of blockchain working group - education/pilots/partnerships
Late last year I decided to take the leap and started decentralize... consult, design and deliver
Intro
eric hughes - john perry barlow (declaration of independence of cyberspace) - julian assange - focussed on privacy in the digital world.
Embedded in the genesis block was the message - The Times 03/Jan/2009 Chancellor on brink of second bailout for banks) which I think articulates the problem they aimed to solve
Pizza bought for 10k bitcoin… ~$7Mill US pizza.
intro
$165Bn USD..
Nov $2Bn USD per day
It’s traded in >50 regional markets globally with over 170 trading platforms.
intro
Double spend problem - cash $5 dollars.
reach agreement on ownership between distributed non trusting group - byzantine generals problem
Bitcoin uses proof of work to solve this problem… basically having everyone put in work for a reward to show they can be trusted.
But proof of work is not the only mechanism. 4 are… proof of work based… economic based… hybrid..)
intro
Bitcoin solved this problem allowing a group to definatively agree ownership, history of something without an intermediary
Turns out this presents other opportunities.
efficiency… central transactions unworkable in IOT.
control… with ownership comes control to reveal, partially reveal or not… or even prove ownership without revealing.
Leverage - digital version of a thing means we can use it as leverage.. Short term financing.. Demonstrate authenticity etc.
automation
intro
Is an open source movement like linux.. huddocoin!
there are today >1500 exchange listed crypto-currencies in existence most of them rubbish.
Argument of consolidation vs currencies for all - similar to evolution of routing protocols
Atomic swaps
Give example of fucoin.
intro
Startup scene is using this to disintermediate and transform business models
Govtech with bin routing…
Health records..
Energy trading markets (powerledger)
Prediction markets
Food authenticity - provenance.
Fund management
Even democracy and voting - flux party.
Financial markets disruption
Biggest initial disruption use case is venture capital in ICOs
The most interesting element I think is where the tech intersects and complements other things like AI, ML and IOT.
For example NASA.
Open Mined
Disrupting Air BnB
Openbazaar decentralized ebay
Filecoin decentralized AWS
Civic for identity and personal records.