Story: What’s next?
I’m sure everyone hears at least once “Blockchain”. I attended local meetup about Blockchain a year ago. “Decentralise” “Cryptocurrency”, I’d never heard these words before.
Blockchain: The Most Trusted Crypto Company
Why I’m searching about Blockchain? Because I got a small project from a local startup which relates blockchain business. I have a meeting next Monday. That’s why I’m roughly searching about it. I don’t need to completely understand, but this is kind of manner. If you prepare a question, it will be helpful for engaging with a client.
What is BLOCKCHAIN?
Blockchain is shorthand for a whole suite of distributed ledger technologies that can be programmed to record and track anything of value.
1. The way it tracks and stores data.
2. It creates trust in the data.
Before a block can be added to the chain, a few things have to happen.
– A cryptographic puzzle must be solved.
– The computer that solves the puzzle shares the solution to all the other computers on the network.
– The network verifies the proof-of-work.
3. No more intermediaries.
Blockchain is the combination of all these factors:
– decentralizing of the date
– building trust of the data
– Allowing us to interact directory with one-another of the data
Understand the Blockchain in Two Minutes
Summary:
– Validating others’ Bitcoin transactions with their personal computers
– Tracking records of ownership over the digital cash
– In the future, blockchains that manage and verify online data could enable us to launch companies that are entirely run by algorithms, make self-driving cars safer, help us protect our online identities and so on.
How does a blockchain work
Summary:
– A blockchain is a chain of blocks that contains information.
– A blockchain is a distributed ledger that is completely open to anyone.
– Each block contains data, a hash(fingerprint) of block and hash of the previous block.
How the blockchain is changing money and business
I watched the videos above, but this TEDx talk is more understandable. I think because of a lot of examples. Examples enhanced my understanding. Some audience who is quick learner understood the impact of blockchain. They stood up and clapped hands. That’s smart.
Summary:
– Protecting rights through immutable records
– Creating a true sharing economy
– Ending the remittance ripoff
– Recapturing our identities
– Ensuring compensation for the creators of value
Trust Machine: The Story of Blockchain – VIFF 2019
*Updated: October 4, 2019
I watched “Trust Machine: The Story of Blockchain” at VIFF for learning history and present circumstances. The movie explains bitcoin and blockchain together. I felt that it makes the audience confused. In addition, the movie puts on entertainment taste by edition. I met a friend in the theater. She was honestly not much impressed with it. I was okay.
Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. – Wikipedia
Google shows 1 bitcoin = 10,861.78. It looks real currency, but I still cannot figure out how to use bitcoin in daily life. Once, society accepts bitcoin, the value may increase in the future.
Blockchain City
Foresight in the future
I learned the surface of blockchain technology. Entrepreneurs who have a foresight have run a business to utilize this technology since a few years ago. I could know how it changes the world, but I don’t think I can run a business even now. It’s too advanced for me.
As I said I had to know little about blockchain before the meeting. This is a benefit of the designer work. Please open mind to new tech and keep your curiosity.
Reference:
IBM: What is blockchain?
IBM Think Academy: How it Works – Blockchain
Investopedia: Blockchain, Explained
