The first generation of the digital revolution brought us the Internet of information. The second generation — powered by blockchain technology — is bringing us the Internet of value: a new platform to reshape the world of business and transform the old order of human affairs for the better.
“I’m reasonably confident … that the blockchain will change a great deal of financial practice and exchange,” he said from the Consensus 2016 event in midtown Manhattan, adding that his bet on the future of finance would see “40 years from now, blockchain and all that followed from it will figure more prominently in that story than will bitcoin.” – Larry Summers, US Former Treasury Secretary
Blockchains come in many shapes and sizes – permissioned vs permissionless, proprietary vs open source, and with a sometimes confusing array of consensus mechanisms underpinning their core functionality. So how does one choose a direction that’s right for different financial applications? Determining how data transparency vs privacy and security plays a role in blockchain choice.
We will discuss those topic’s, and so, so many more!
But, lets get acquainted.
What are Blockchain Technologies?
How do blockchains work?
A Blockchain is a distributed ledger of unchangable, digitally recorded data. Data of any type can be recorded in a blockchain: financial transactions, titles to real estate, etc. Unlike a traditional database housing the same data, a blockchain does not have to rely on a centralized administrator.
These applications are powered by blockchains
These are the use cases where blockchain technologies can be applied to improve efficiency or unlock capabilities for new technologies.
Innovative companies building with blockchain technologies
200+ Blockchain Companies … and counting
The following blockchain technology companies are a subset of the many who are blazing the trail for global distributed ledger technology adoption.
Blockchain Venture Investing
Fund Promising Blockchain Startups
We know that in ancient days, commodities essential to daily living were considered money (e.g. cows and chickens) and traded among micro-economies. Then the modernization of society and urban cities brought the need to track money and value across large territories of land, which resulted in the birth of paper and coin money issued from the ruling governments. A quarter of a century ago, an invention called the world wide web made it possible for people to buy and sell virtually anything, to anyone around the world using bank-issued credit cards, which are a substitute for paper and coin issued currencies and provide electronic payment. Finally, several years ago, a new form of money that is native to the internet was born – cryptocurrency. Below we explore what this new type of money is, how it works, and how you can get involved
Cryptocurrencies can be thought of a new type of digital commodity or digital money. They can act as a fuel for distibuted ledger networks and also be used as mediums of exchange to purchase goods and services. Depending on intent, cryptocurrencies can also be treated as an appreciating long-or-short term investment. Cryptocurrency values have been subject to extreme periods of volatility (in some cases up to 20%±), creating both risk and opportunity. As such, it is a worthwhile effort to perform in-depth due dilligence before making any investments in cryptocurrencies.
— Blockchain (@blockchain) November 30, 2016
— Nicolas Cary (@niccary) November 23, 2016
More to come!