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Binance Academy provides a brief introduction to the history of blockchain, beginning in 1991 when research scientists, Stuart Haber and W. Scott Stornetta, introduced a computational practical solution for time-stamping digital documents so they could not be back-dated or tampered with. The system used a cryptographically secure chain of blocks to store the time-stamped documents.

In 1992, Merkle Trees were incorporated into the design, making it more efficient by allowing several documents to be collected into one block.

Merkle Trees are a fundamental component of blockchains that underpin their functionality. They allow for efficient and secure verification of large data structures.

In 2004, Hal Finney introduced Reusable Proof of Work (RPoW).

For reference, and going back a little earlier in time, a proof-of-work (POW) system is an economic measure to deter denial of service attacks and other service abuses such as network spam, by requiring some work from the service requester, usually meaning processing time by a computer. The concept was invented by Cynthia Dwork and Moni Naor as presented in a 1993 journal article.

The term “Proof of Work” or POW was first coined and formalized in a 1999 paper by Markus Jakobsson and Ari Juels.

Returning to 2004, Hal Finney built on the proof-of-work idea, yielding a system that exploited reusable proof of work (“RPOW”) and solved the problem of potential double-spending of digital currencies, which was designed to allow other non-associated users to confirm its integrity and correctness in real time. This can be considered an early prototype in the history of cryptocurrencies.

The next milestone is noted in the much publicized introduction of the decentralized, peer-to-peer electronic cash system by the anonymous Satoshi Nakamoto, which the world knows as Bitcoin.

Bitcoin introduced the idea of independent “Miners” to track and verify the transactions in exchange for financial reward.

The first Bitcoin transaction went from Satoshi Nakamoto to Hal Finney on Jan 12, ,2009.

In 2013, Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, stated that a scripting language was needed for building decentralized applications (Dapps). Since he was not able to gain a consensus in the Bitcoin community, he began development of a new blockchain called Ethereum, which featured a scripting functionality called Smart Contracts, which are Dapps deployed and executed on Ethereum.

Ether is the cryptocurrency used on Ethereum.

In brief, cryptocurrencies are based upon blockchain. However, certain blockchains offer much more functionality than solely supporting digital currencies.

https://youtu.be/5l23Wl3EJbE

Blue Whale Foundation, headquartered in Singapore, describes itself as “The decentralized ecosystem for the self employed.”

The company aspires to “empower the world’s freelance community by creating the largest worker-centric decentralized ecosystem where independent workers can pursue their passions and get the value they deserve from the gig economy.”

Furthermore, they state their “Decentralised network disrupts existing centralised platforms which have monopolised public resources, exacerbated economic inequality and increased the wealth gap. Blue Whale’s W.O.R.K. system is a revolutionary, sustainable cycle that fuels Sharing Economy. Whether you are a self-employed or a owner of small business, your benefit and welfare will be covered. The transparency achieved through blockchain technology means your earnest contribution in the market will be returned to you through Blue Whale’s Reward Bank. Coupled with no commission and free tools mean you no longer have to count pennies for marketing and advertising budget for your services.”

CEO, Will Lee states, “Currently, Blue Whale is the only comprehensive solution that addresses the fundamental problems faced by the dissolution of traditional employment – and also with it the social protections and employee benefits.”

Furthermore, while discussing the current centralized entities, he states, “They’ve come to monopolize data-based services that facilitate matching demand to supply on a large scale.  Instead of a genuine sharing economy, the freelancers who work for these platforms face 1) high commission, 2) excessive advertising costs for SMBs and freelancers, 3) no employment for SMBS and freelancers.”

https://youtu.be/VKv5rWtV-vI

Companies are being created to use the transparency of blockchain to solve problems. 

Good. 

It will be even better in the future when we have more actual successes to cite as working examples.

Climate change is not immune to the boasting of quick cures for complex problems.  Nori is one such entity. The company’s website describes themselves as “A blockchain-based marketplace for removing carbon dioxide from the atmosphere.”  They are “on a mission to reverse climate change. “

Perhaps bold ideas are needed now, more than ever, to address climate change.  But in fact, really what is behind their promise is primarily a platform that facilitates more transparent transactions.

This does not make their effort any less noble, but its hyperbole does add to the noise that surrounds blockchain and potentially devalues its actual merit in the eyes of those who are newly trying to understand and embrace it: especially among those who are sincerely seeking comprehensive solutions to climate matters.

Hopefully, Nori’s contributions will prove valuable.  Its claims may prove to be less so.

Also see NPR audio report.

HTC is making a big bet to regain market share for its phones.  That bet is clearly on the table with the launch of its blockchain-focused phone. You can only buy it with Bitcoin or Ether; which represents its intended audience.

• HTC’s Exodus 1 comes with a secluded area kept separate from the Android operating system it runs on to keep a customer’s cryptocurrency safe.
• The blockchain-based phone is part of HTC’s shifting strategy regarding smartphones, which will prioritize software and intellectual property.
• It is available for pre-order at a price of 0.15 bitcoins or 4.78 ether tokens, which translates to about $960, and is expected to be shipped by December.

Read more.

Founded in 2013 and headquartered in London, CoinTelegraph is a news site covering cryptocurrencies, blockchain and decentralized applications.

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