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What is Blockchain Technology? Easy To Understand Video

There is no shortage of explainer videos attempting to outline the basics of how blockchain works.

The trick is to explain some fundamental concepts in a simple fashion; albeit at the risk of oversimplifying to the point of being factually incorrect.

This video does a competent job, although it focuses on the Bitcoin blockchain.  Certainly the Bitcoin blockchain is ubiquitous, due to its association with its famous crypto asset.  However, blockchain as the world will know it, will be built upon any other network except Bitcoin, since that one is a single-use ledger.

Getting back to the video principles: Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database.

The blockchain database isn’t stored in any single location: it’s stored on many computers and the records it keeps are public and easily verifiable. (At least on a public blockchain.  Such is not the case on a private blockhain).

A key benefit is that no centralized version of the network data exists for a hacker to corrupt.

Here on the verge of 2019, it’s not a perfect technology.  Hence, there are many developers working to establish blockchains that are closer to the promise of this technology: faster, less expensive, more transparent and immutable transactions.

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Howdoo: Better Blockchain Social Media?

https://youtu.be/l8HOw7d1pHM

Howdoo.io introduces itself thusly: “Imagine a single application that combines all the best features of existing social media apps, but with a radical new approach to putting users, communities, content creators, and advertisers together in complete harmony and control – alongside a whole new way of incentivizing and rewarding contributions. “

It will be launching in December 2018. Of course like every type of social media platform that has come and gone over the years, user adoption will be the key to its value.

It intends to be a full-featured social media platform, analogous to Facebook.  However, users will be able to establish their environment and earn money for their activity.

Users could disable advertising if that would be their preference. Alternatively, users will earn a fair percentage of the advertising revenue they generate if they do allow it.

For more info on income opportunity by using Howdoo, visit 7 Reasons Creators Earn More on Howdoo.


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All Four Major Ad Holding Companies Unite Around Blockchain

Blockchain and Ad Companies

The advertising industry has benefited from the digital revolution as evidenced by the massive reallocation of money from traditional media to digital advertising.  However, such has also highlighted problems that have plagued the industry as it continues to assert its value to the advertisers who provide the cash, let alone to actual consumers.

Alan Wolk writes about an unprecedented collaboration of the four largest ad holding companies on the planet:

  • IPG
  • Publicis
  • Omnicom
  • WPP

Their participation in the nonprofit AdLedger was established to “further trust and transparency within the digital media space.”

The AdLedger website also states: “We are a nonprofit research and development consortium charged with implementing global technical standards and solutions for the digital media and blockchain industries.”

Wolk describes the initiative as an attempt to solved the “Four Horsemen of the Ad Apocalypse”:

  1. Fraud
  2. Lack of consumer privacy controls
  3. Too many middlemen
  4. Lack of transparency between publishers and advertisers

Blockchain represents a potential and meaningful solutions to these issues which have been a bane to the industry.


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Malta Blockchain Summit

In early November, Malta, the “Blockchain Island,” hosted one of the biggest blockchain events in Europe — the 2018 Malta Blockchain Summit.

The “Blockchain Island” is not only a center for international blockchain commerce, but it’s also on its way to becoming a “Top AI nation” as well.

In other words, in the same way Malta has established a friendly regulatory environment for blockchain technology, it is doing the same for artificial intelligence.

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The Dark Side of The Chain

https://youtu.be/BX_3fFUUhVQ

John McAfee from McAfee Crypto Team & Luxcore, Brandon Smietana from Skycoin and Monty Munford (moderator) from Mob76 discuss “The Dark Side of the Chain” at the 2018 Malta Blockchain Summit.

At times distressing and other times colorful, their discussion includes kidnapping, murder, guns and prostitutes.

Additionally, Smietana talks about the origin of Bitcoin as a money system backed my mathematics instead of humans, who are prone to corruption. He describes the current fiat monetary system as a debt ponzi scheme and that the earliest Bitcoin proponents were Libertarian, real-money advocates before the speculators came in and dominated the landscape.

McAfee discusses forwarding the adoption of crypto by actually using crypto for purchases where accepted.

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Difference Between ‘Permissioned’ and ‘Permissionless’ Blockchains

blockchain

Matthew Beedham describes a permissionless blockchain as one where the public validates transaction information on the network.

In permissioned systems, transaction information is validated by a select group approved by the blockchain’s owner, hence a private blockchain.

Permissioned systems tend to be more scalable and faster, but are more centralized. Permissionless systems are open for all to join, and as a result, usually more decentralized, the trade off is speed and scalability.

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Gary Vee on Why Blockchain Will Kill Middlemen

In this interview, Gary Vaynerchuk discusses his personal evolution and  emphasizes two fundamental points for business success:

  • Be passionate about the customer
  • Have an outrageous work ethic

The future of the internet is voice search, including Amazon Alexa and Google Home.

Use all social media platforms the people you want to reach are using.

Regarding getting your message out to the world: physical activities, such as the conference they are attending, are secondary to the internet and social media.

In terms of media platforms, he advocates creating no friction in the way people want to consume information.  Whether writing books, recording podcasts or creating videos, help the end user get info the way they prefer to consume it.

Building a brand is vital in our world of commoditization of products and services.

Blockchain will eliminate the margins in financial services and other businesses.

When you make money as a middleman and the internet and blockchain come along to replace the middle, you’re in trouble.


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Fall Of Empires: Rome vs USA

Mike Maloney draws eerie parallels to the misguided leaders and monetary policies that doomed civilizations from Ancient Rome to modern-day America.

In particular, the parallel between the debasement of fiat currency and its relationship to gold in Ancient Rome vs. the United States is compelling, as well as a note about the opportunity of cryptocurrency in this landscape.

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