My understanding of Blockchain continues (at least I keep telling myself that)...
"My caution to all is get as much information as you can about this technology but look hard at what they are saying. I'm pretty sure there is a pony in here under all this manure."
Jerry Fletcher
As I continue to dig into the utility of Blockchain technology I've categorized it into three general areas for consideration —
- Blockchain technology used in a centralizedmanner for data integrity and process efficiency — current trust institutions (such as banks) that want to be more efficient and effective with the integrity of their data management.
- Blockchain technology used in a decentralized manner to disrupt current trust institutions and middlemen — challenging the way we do things, such as banking.
- Blockchain technologies used in a decentralized manner to create new "ecosystems", as well as new value creation becasue of its activities — the creation of defined value where there was none before (represented through its cryptocurrency).
As I have mentioned before, I am not a very good futurist so there are probably many other areas of consideration.
I've also come to appreciate that if you're looking at Blockchain from a "decentralized perspective" you need to have some sort of "currency or token" involved — it is used as an incentive for the network (or "ecosystem") to ensure it works properly. A currency is required to support the efforts of the people in the network in a sustainable way, and ultimately will reflect the value associated with what is happening in the ecosystem.
As I continue to search for the "pony" I have come to believe I'll align with the third consideration for two simple reasons — I don't have any coding skills to speak of that would help an established institution and I just don't have the energy to be very disruptive. Although strangely enough, I do have the energy to get involved with new ecosystems. Go figure. Maybe it's my marketing background, or my increased efforts with blogging, or my interests in personal branding or even my increased involvement with social media... I don't really know; whatever the reason though, it seems my place in all of this is leaning towards blockchain and it's utility with social media — and I suppose by extension, personal data and identity in the virtual world.
Because more than ever we are living in both the real and virtual world (with each becoming as real as the other) — and frankly, I want only one of me in each.
iamgpe
PS — As always let me know where I've gone off the rails.
"
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Comments
Mark Morris
6 years ago #32
Javier Cámara-Rica 🐝🇪🇸
6 years ago #31
Graham\ud83d\udc1d Edwards
Graham🐝 Edwards
6 years ago #30
NP Jerry Fletcher... thanks for the pony visual
Graham🐝 Edwards
6 years ago #29
Thanks for the insight Zacharias \ud83d\udc1d Voulgaris
Graham🐝 Edwards
6 years ago #28
I think it was just a "glitch" Phil Friedman... I saw it...
Graham🐝 Edwards
6 years ago #27
Thanks for the comment Javier \ud83d\udc1d beBee I really like where beBee and Profede are going. I'm definitely focusing on blockchain, social media platforms and personal identity. So far I think that's the part of the sandbox I want to spend some time in.
Graham🐝 Edwards
6 years ago #26
Thanks for the insights Harvey Lloyd... there is no doubt there are a bunch of experts jumping on this train. I have heard someone explain blockchain as a really slow database where the data is really secure. I've already heard people talking about AI and Blockchain, let's add VR and AR and really set ourself up for unintended consequences... god help us all.
Graham🐝 Edwards
6 years ago #25
I think there is lots of action going on behind the scenes, and most of it will just find its way into our life without us really noticing it like most technology... just think of all those iPhone apps Pascal Derrien
Graham🐝 Edwards
6 years ago #24
Thanks Donald \ud83d\udc1d Grandy PN... it's definitely a journey and I still blackout a lot.. lol
Graham🐝 Edwards
6 years ago #23
Thanks for the comment Jim Murray... plus Block chain isn't the miracle technology that will solve everything including the common cold. Part of why I'm exploring all of this is to determine if I should care about it.
Graham🐝 Edwards
6 years ago #22
Thanks of the comment Randall Burns... I found a topic that's so big I've decided to pick a small area and try to sort it out... these comments and participation has definitely helped me....
Graham🐝 Edwards
6 years ago #21
Hey Phil Friedman this is turning out to be a very "rich topic"... Regarding using blockchain in a centralized way the Canadian banks are all over it for different uses and like this type of technology it will be incorporated and we will never even know it https://www.americanbanker.com/news/canadian-banks-pick-ibm-blockchain-to-expand-digital-identity-project Regarding a decentralized way to disrupt current institutions well there are a bunch of ICO's out there to do just that.. — personal identity seems to be one of the areas for sure. Regarding blockchain to create ecosystems that created defined value with a cryptocurrency I would say the best example of this is Steemit, I saw a site that wanted to do the same thing with design/photography and of course there is what beBee wants to do with Profede. Regarding the now 1500 + cryptocurrencies out there, like all things of this nature there will be a "bloody shakeout" but some will survive and they will find a basal value of some sort — until then it is the wild, wild west... Great conversations — making me think a lot... thx
Randall Burns
6 years ago #20
Randall Burns
6 years ago #19
HaHa! I can relate to that Harvey Lloyd very reticent to "jump on the bandwagon" without comprehension.
Phil Friedman
6 years ago #18
Randy, it appears that you are correct. My comment still shows up in the queue on the Update feed, which is good to know. It was as follows: "With all due respect, @Graham🐝 Edwards, I don't see yet any explanation of how blockchain technology fulfills any of the potential uses you describe. That is not just a problem in your piece, but in virtually all of the literature I've looked at, I see lots of claims about how blockchain can do this or that, but absolutely no explanation of how it does it. Moreover, many of the claims about blockchain are, on their face, self-contradictory. For example, we're told that blockchain can protect privacy. However, when blockchain is used for genuinely decentralized data keeping, the keystone concept is data integrity that is constantly verified and re-verified because the database is public. Then we're told blockchain can be used in a private (or centralized) manner, but if so what happens to the alleged assurance of data integrity? Anything less than public decentralization fails to assure the promised data integrity. Simply having a bank's data concerning accounts "decentralized" to 100 of its branches is not any better in terms of trust and credibility than having it centralized at one location. For that is still a matter of trust the bank's record keeping or don't. And when it comes to incentivizing decentralized data-keepers by paying them in crypto-tokens, well, to my mind that strains credulity because at last count there were at least 113 different cryptocurrencies being marketed worldwide. Maybe the 114th variety will be dubbed Ponzitos. You can get yours by sending me your "worthless" US and Canadian dollars, and I will send you by return mail Ponzitos, 1,000 each for each US dollar you send me (or in the case of Canadian dollars, 1,000 Ponzitos for each CDN $1.35 you send me). Cheers! "
Jerry Fletcher
6 years ago #17
Jerry Fletcher
6 years ago #16
Harvey Lloyd
6 years ago #15
I have had some quirky things happen when commenting. At one point the comments i was writing on one post actaully showed up on another. To the point the author took the post down and reposted later. I believe this is telling though. Technology can become overwhelming in maintenance as updates and changes are made. Remember the proposed crash of 2000 that never came. I feel the same way about blockchain. Graham\ud83d\udc1d Edwards proposes that if financial benefit is not present what is the incentive to maintain the backbone of the system. Semi-Private internal systems utilized by Banks and financial institutions will be somewhat incestuous tech. I am a late adopter so i am not a good prognosticator of future tech. But i feel blockchain in its current marketing format is more snake oil than results. I do see some value within the system to better keep folks honest, but those systems tend to get gamed on a regular basis.
Javier Cámara-Rica 🐝🇪🇸
6 years ago #14
Randall Burns
Zacharias 🐝 Voulgaris
6 years ago #13
Randall Burns
6 years ago #12
In fact on this buzz I'm missing comments # 1, 2, and 3; they will not come up even after refreshing page
Randall Burns
6 years ago #11
I don't think that your comment has been removed Phil Friedman, (usually there is still a space with comment # and a statement in italics stating "this comment has been removed") I've noticed over the last couple of days "holes" in comment threads of EVERY buzz I've been on, some missing many comments. I was wondering if it was a glitch on my computer but I now believe it may be the website. Any ideas Javier \ud83d\udc1d beBee Is anyone else seeing this issue?
Phil Friedman
6 years ago #10
#4 #7 and Graham\ud83d\udc1d Edwards -- I notice that my comment has been removed, yet none of my honest questions have been answered. Obviously, beBee is changing. Cheers!
Javier Cámara-Rica 🐝🇪🇸
6 years ago #9
Javier Cámara-Rica 🐝🇪🇸
6 years ago #8
Harvey Lloyd
6 years ago #7
Pascal Derrien
6 years ago #6
Donald 🐝 Grandy PN
6 years ago #5
Jim Murray
6 years ago #4
Randall Burns
6 years ago #3
Phil Friedman
6 years ago #2
Graham🐝 Edwards
6 years ago #1