Lifeboat Foundation

But there’s a catch: what about the faithful ‘execution’ of a contract? Doesn’t that require trust as well? What good is an agreement, after all, if the text is there but people don’t respect it, and don’t follow through on their obligations? Which brings us back to the crucial matter of how Buterin managed to piss off so many people.

The great cryptocurrency heist.

Blockchain enthusiasts crave a world without bankers, lawyers or fat-cat executives. There’s just one problem: trust.

Continue reading “Trust: the inside story of the rise and fall of Ethereum” »

The Disruption Experience this Friday in Singapore is a blockchain event with a difference. With apologies to the Buick commercial, this is not your grandfather’s conference…

I know a few things about blockchain conferences. I produced and hosted the first Bitcoin Event in New York. My organization develops cryptocurrency standards and practices. We help banks and governments create policy and services. And as public speaker for a standards organization, I have delivered keynote presentations at conferences and Expos in Dubai, Gujarat India, Montreal and Tampa, New York and Boston.

Continue reading “Disruption Experience Nails It” »

Should we trust technology experts? We live in times of incredible innovations and impressive complexity. The last 30 years of technological development overturned our society, and the next 30 will likely reshape the foundations of what it means to be human. Machines have been the wealth engines of our industrial modernity, while data control and artificial intelligence will structure the power battlefields of this century.

It’s not hard then to understand why technologists, computer scientists, engineers, tech-entrepreneurs, IT experts, data analysts, etc — dress the status of champions in our age. They are shipping us into the wonders of Web 3.0, Industry 4.0, 5G communications, the blockchain transition, the G (eneticengineering). R (obotics). AI. N (anotechnologies) Revolution…and another thousand of cryptic acronyms forbidden to ordinary mortals.

We are flooded with tech-narratives. Let’s start by playing with our imaginations. What does naturally come to your mind if I say:

Continue reading “Reverse-Engineering Technologists’ Brains” »

Need more evidence that blockchain isn’t the cure-all for Corporate America? Well, a new report from PwC says adoption of the technology is stalling.

The virtual currency markets have been through booms and busts before — and recovered to boom again. But this bust could have a more lasting impact on the technology’s adoption because of the sheer number of ordinary people who invested in digital tokens over the last year, and who are likely to associate cryptocurrencies with financial ruin for a very long time.

The number of people who bought virtual currencies more than doubled last winter. For people who got in late, the bust has been disastrous.

Kenyan banks are seeking regulatory approval to use distributed-ledger technology, also known as blockchain, to distribute payments and create credit-scoring models to rate potential borrowers.

Blockchain is used both by NASA and startups hoping to democratize space.

Analysis.

Continue reading “Houston, We Have a Solution: Blockchain in the Space Industry” »

Let us frame the question, by reviewing what miners really do…

Miners play a critical role in the Bitcoin network. Their activity (searching for a nonce) results in assembling an immutable string of blocks that corroborate and log the universal transaction record. They are the distributed bookkeepers that replace old-school banks in recording and vouching for everyone’s purchase or savings.

From the perspective of a miner, there is no obvious connection between their activity and the worldwide network of bitcoin transactions and record keeping. They are simply playing an online game and competing against thousands of other miners in an effort to solve a complex and ongoing math problem. As they arrive at answers to small pieces of the problem, they are rewarded with bitcoin, which can be easily translated into any currency.

What is the Problem?

Continue reading “How will Bitcoin Work When Mining Rewards Run Out?” »

Eastern Washington had cheap power and tons of space. Then the suitcases of cash started arriving.