To even get started, all land ownership would have to be first identified and verified. That's when the land theft will take place, followed by legal shenanigans to take property from others (such as claims of non-payment/receipt of taxes, failure to maintain the property at some "level of goodness," etc.).
Your first intuitions are correct. "How will we verify things in the physical world and secure them in the digital world" - aka the block chain? Almost all of these companies(each cryptocurrency is actually a company, don't think of them as just a coin, but each one represents an idea for the block chain) are thinking about this. A lot of them have answers and are working on solutions. Companies(aka currencies) like WaltonChain and VeChain are going to utilize hardware sensors in 18 wheelers to verify and upload data about supply chain logistics. I work at a logistics company and this technology is already there, it just happens to be proprietary data that doesn't go to any block chain. Once this change is made then there would be no need for my company's database - the blockchain would handle it all and handle it transparently. These solutions are huge for how things will be conducted. In regards to land and other financial transactions there are plenty of developers looking into this. Ethereum is the biggest player in this realm, but there are others with more solid technologies like NEO. Whether or not either of those companies succeed, the technology of using the blockchain to circumvent the endless amounts of human incompetency and bureaucracy is NOT going to go away. It's precisely like he is saying, crypto and block chain tech is just like the '99 dot com bubble. People realized the internet was actually going to change the world, every panicked and invested, and only 10% of those investments went on to mean anything. Crypto is doing this now, and it's doing it faster and with more force. Some amount of the currencies/companies out there are going to change the world forever, and those who are lucky enough to get in are going to benefit in magnitudes.
My two concerns about bitcoin so far: 1. How would they recover the money associated with a wallet but was never used i.e. the person who owned them have died or forgot the password with no way of recovery? 2. How would they address the anonymity of a person using newly-made wallets every transactions?
One of the challenges is validating that property that is exchanged with the blockchain is LEGALLY owned by the individual selling it. For example, posting in the Blockchain that a house belongs to you must be validated OUTSIDE the blockchain. The blockchain is merely a linked-list to objects outside of the blockchain. Similar to the title for a house or the pink slip for your car. Bottom line it reduces the infrastructure for the transfer of property but still requires a third, authoritative party, with the legal authority to identify property ownership to post property ownership BEFORE the blockchain can be used to transfer property. Same with land title. If that third party activity is not performed first, then I could sell your house using the blockchain to someone without your permission and participation. Who identifies land titles? That person/entity is outside the blockchain.
Yes, we are on the verge of so many technological revolutions that could mend much of what is calcified in this dynamic world. Keep up the great videos and helpful thoughts.
Nice video and insight, but Hernando the Soto did not write "The Wealth at the Bottom of the Pyramid". C. K. Prahalad wrote the "The Fortune at the Bottom of the Pyramid", which actually cites Hernando de Soto on a footnote if I'm not mistaken and takes some inspiration from it. Both authors do speak about the potential of capitalism and business to end or mitigate poverty. Hernando de Soto's most famous work: "The Other Path: The Invisible Revolution in the Third World" about the informal sector (later re-branded as "The Other Path: The Economic Answer to Terrorism") was very influential during the glory days of economic Libertarianism and the popularity of the Chicago and Austrian economic schools for public reform in the 1990's and onto the 2000's. De Soto has remained active as a proponent of free market and the role of business for development. The confusion probably comes that both authors highlight the role this role and that Hernando de Soto de Soto is an active promoter of Blockchain as a framework for a more transparent, inclusive and efficient future in the business and public sector.
I was just hoping you might give me some insight into the evolution of the market economy in the southern colonies. My contention is that prior to the Revolutionary War, the economic modalities, especially in the southern colonies, could most aptly be characterized as agrarian precapitalism...
Of course that's your contention. You're a first year grad student. You just got finished readin' some Marxian historian -- Pete Garrison probably. You're gonna be convinced of that 'til next month when you get to James Lemon, and then you're gonna be talkin' about how the economies of Virginia and Pennsylvania were entrepreneurial and capitalist way back in 1740. That's gonna last until next year -- you're gonna be in here regurgitating Gordon Wood, talkin' about, you know, the Pre-revolutionary utopia and the capital-forming effects of military mobilization.
never thought of it this way...wow that's enlightening. But im curious to know how you would incentivize the creation of new blockchains for these kinds of ledger?
Dane Reid Some key challenges to surmount, like how to share data without influencing the yet-to-vote voters on election day, but brilliant idea there Dane!
Adam wants to buy land from Bob. Bob and Adam use a blockchain of random blockchain users to accept the contract. If Bob doesn't give up the land, Adam can complain to the blockchain, which can cash out Bob's escrow money / "bad actor insurance policy", give it to Adam, and mark Bob as an untrustworthy agent.
Doesn't Adam have to provide some kind of proof that Bod refused to give up the land? And what if Adam claims that Bob didn't give up the land, but Bob did. Now, Bob is out his land, and his money, AND is labeled "untrustworthy". Where are the checks and balances?
I made a complaint to the company and havent recieved any feedback yet. Cross platform scams should not overshadow its value. Important to identify the fraudsters now before corporate entities are swindled.
Right? Right? Right? Right? Right? Count the rights; every odd right is wrong. Don't allow someone who forces agreement to manipulate your thoughts! Denounce the right! Perhaps my point isn't clear...
whoever has too much power has the ability to manipulate things. Hopefully the transactions being recorded will be honest and not tampered with and the "irreversible recordings" are true.
The bitcoin blockchain is practically impossible to manipulate, even by the biggest actors. It's just too expensive to attack the blockchain, even for governments.
Both left and right minded people should think this way is the next step in the evolution of species and self governance more than just political views applied to it
Interesting video didn’t realise the value of block chain until now it’s very useful but really boring. As for crypto currencies it’s still early days but they are the future just waiting for the winners to emerge, I’m not fussed about making money on them but seeing them implemented globally it would make life very interesting 😉🌶🌶
I'm looking for the book he mentioned: "The Wealth at the Bottom of the Pyramid" by Hernando de Soto. Not easy to find, so I think some part of it might be wrong. Any ideas?
Thanks for this I need as many sources of education to share If one perspective doesn't get through to people, I try another Even if I hadn't bought BTC, ETH and other cryptocurrencies, I would be fascinated by the space and trying to increase awareness. The fact that we can all prosper as the landscape evolves makes it a very personal revolution towards true sovereignty. A life made free from the toils OF other men, FOR other men with very little to show for myself. No longer will I be bound by the will of those with more than me.
Dutch public tv news the last weeks: nearly every day a scary bitcoin/blockchainstory... I’m willing to bet one bitcoin that most of the powerholders are buying virtual money though. How fucked up is that?!
Maybe I'm dumb but this is all this is premised on an algorithm which I'm pretty sure can be changed. What stops anyone from writing a dear 4Chan message and f***ing it all up?
Crypto currencies are basically just credit, the conspiracy theorists will go nuts at this cashless society based on credit that has been creeping up on us.
but for the common good how r those jobs going to be replaced and with that model does it include the people not yet born? lastly, how does this move us forward with socialization within globalization. the hardest part in this transition is getting everyone together so all sides benefit as well as both-sides agreeing.
I think if some countries start, and it appears to work, all other countries will follow up shortly, if it does not work, nothing changes for all countries. As for me, I am the one that would program the blockchain system for companies and I hope I would have to work less hours
but how could u make up the lost income from working shorter weeks and people who do paper work will be gone because this will take out the middle man and if no creations of new middle income jobs then it will shrink then what. it goes against the common good. with new ideas we must always replace jobs and there always has to be new jobs for middle class for the common good. that's been our problem now no replacement.
YOU MADE THE CLAIM that anything that can be digitized should be digitized. So the burden is upon YOU to explain yourself. By the way, voting shouldn't be digitized, and block chain isn't as secure a solution as showing up to the polls in person.
THELAW 34 No, his claim was that not everything, especially voting, has to be automated and digitized. Not an outright claim that "voting should not be" automated and digitized. They are different claims. Directly after, you posted that 'if it can, then it should.'
Next: How the blockchain will cure cancer, end poverty, give everyone a free pony, and finally find my goddamn car keys. God, what else are they gonna pull outta their arse?
In essence it eases the way money flows but with full audit included. I'm lightly invested in one cryptocurrency and I gotta say so far it's increased in value by 300% in four months. Not bad.
The blockchain becomes the middleman. Said middleman can be corrupted, interfered with, hacked, insert X here that we've already done with bitcoin. Still not a solution.
LIMIT CYCLE No. That's not how blockchains work. You should do more research on how blocks are added to the chain and the verification process of how the longest chain is accepted on the network if there is a discrepancy between legers. If you lack a complete understanding of how the technology works, please do not make claims about it's corruptibility.
To even get started, all land ownership would have to be first identified and verified. That's when the land theft will take place, followed by legal shenanigans to take property from others (such as claims of non-payment/receipt of taxes, failure to maintain the property at some "level of goodness," etc.).
Your first intuitions are correct. "How will we verify things in the physical world and secure them in the digital world" - aka the block chain? Almost all of these companies(each cryptocurrency is actually a company, don't think of them as just a coin, but each one represents an idea for the block chain) are thinking about this. A lot of them have answers and are working on solutions. Companies(aka currencies) like WaltonChain and VeChain are going to utilize hardware sensors in 18 wheelers to verify and upload data about supply chain logistics. I work at a logistics company and this technology is already there, it just happens to be proprietary data that doesn't go to any block chain. Once this change is made then there would be no need for my company's database - the blockchain would handle it all and handle it transparently. These solutions are huge for how things will be conducted. In regards to land and other financial transactions there are plenty of developers looking into this. Ethereum is the biggest player in this realm, but there are others with more solid technologies like NEO. Whether or not either of those companies succeed, the technology of using the blockchain to circumvent the endless amounts of human incompetency and bureaucracy is NOT going to go away. It's precisely like he is saying, crypto and block chain tech is just like the '99 dot com bubble. People realized the internet was actually going to change the world, every panicked and invested, and only 10% of those investments went on to mean anything. Crypto is doing this now, and it's doing it faster and with more force. Some amount of the currencies/companies out there are going to change the world forever, and those who are lucky enough to get in are going to benefit in magnitudes.
One of the more interesting and original big think vids I've seen in a while.
My two concerns about bitcoin so far:
1. How would they recover the money associated with a wallet but was never used i.e. the person who owned them have died or forgot the password with no way of recovery?
2. How would they address the anonymity of a person using newly-made wallets every transactions?
technology always reflects the culture's values.
technology alone doesn't solve social problems, it has to come with a change in values
One of the challenges is validating that property that is exchanged with the blockchain is LEGALLY owned by the individual selling it. For example, posting in the Blockchain that a house belongs to you must be validated OUTSIDE the blockchain. The blockchain is merely a linked-list to objects outside of the blockchain. Similar to the title for a house or the pink slip for your car. Bottom line it reduces the infrastructure for the transfer of property but still requires a third, authoritative party, with the legal authority to identify property ownership to post property ownership BEFORE the blockchain can be used to transfer property. Same with land title.
If that third party activity is not performed first, then I could sell your house using the blockchain to someone without your permission and participation.
Who identifies land titles? That person/entity is outside the blockchain.
Yes, we are on the verge of so many technological revolutions that could mend much of what is calcified in this dynamic world. Keep up the great videos and helpful thoughts.
If we can get rid of notary and solicitors fees in the developed world too, it won't be so bad neither.
Nice video and insight, but Hernando the Soto did not write "The Wealth at the Bottom of the Pyramid". C. K. Prahalad wrote the "The Fortune at the Bottom of the Pyramid", which actually cites Hernando de Soto on a footnote if I'm not mistaken and takes some inspiration from it. Both authors do speak about the potential of capitalism and business to end or mitigate poverty. Hernando de Soto's most famous work: "The Other Path: The Invisible Revolution in the Third World" about the informal sector (later re-branded as "The Other Path: The Economic Answer to Terrorism") was very influential during the glory days of economic Libertarianism and the popularity of the Chicago and Austrian economic schools for public reform in the 1990's and onto the 2000's. De Soto has remained active as a proponent of free market and the role of business for development. The confusion probably comes that both authors highlight the role this role and that Hernando de Soto de Soto is an active promoter of Blockchain as a framework for a more transparent, inclusive and efficient future in the business and public sector.
I was just hoping you might give me some insight into the evolution of the market economy in the southern colonies. My contention is that prior to the Revolutionary War, the economic modalities, especially in the southern colonies, could most aptly be characterized as agrarian precapitalism...
AK Henderson lmfao do u like apples?
R/iamverysmart
It was capitalism because crops were grown for exchange
If you have any idea about what this man is talking about, please... give us a clue.
Of course that's your contention. You're a first year grad student. You just got finished readin' some Marxian historian -- Pete Garrison probably. You're gonna be convinced of that 'til next month when you get to James Lemon, and then you're gonna be talkin' about how the economies of Virginia and Pennsylvania were entrepreneurial and capitalist way back in 1740. That's gonna last until next year -- you're gonna be in here regurgitating Gordon Wood, talkin' about, you know, the Pre-revolutionary utopia and the capital-forming effects of military mobilization.
It can't end corruption.
It's actually going to create more control over the plebians.
never thought of it this way...wow that's enlightening.
But im curious to know how you would incentivize the creation of new blockchains for these kinds of ledger?
Take a shot everytime he says, "right?"
Blockchain may be a great tool in voting also.
Dane Reid
Some key challenges to surmount, like how to share data without influencing the yet-to-vote voters on election day, but brilliant idea there Dane!
Private Blockchain for Voting managed by local Govt is as goods rigged elections in Any third world it first world country
Adam wants to buy land from Bob. Bob and Adam use a blockchain of random blockchain users to accept the contract. If Bob doesn't give up the land, Adam can complain to the blockchain, which can cash out Bob's escrow money / "bad actor insurance policy", give it to Adam, and mark Bob as an untrustworthy agent.
Doesn't Adam have to provide some kind of proof that Bod refused to give up the land?
And what if Adam claims that Bob didn't give up the land, but Bob did. Now, Bob is out his land, and his money, AND is labeled "untrustworthy".
Where are the checks and balances?
I made a complaint to the company and havent recieved any feedback yet. Cross platform scams should not overshadow its value. Important to identify the fraudsters now before corporate entities are swindled.
Right? Right? Right? Right? Right?
Count the rights; every odd right is wrong.
Don't allow someone who forces agreement to manipulate your thoughts!
Denounce the right!
Perhaps my point isn't clear...
Damn! That is a very good idea!
Fantastic video! Thanks.
whoever has too much power has the ability to manipulate things. Hopefully the transactions being recorded will be honest and not tampered with and the "irreversible recordings" are true.
The bitcoin blockchain is practically impossible to manipulate, even by the biggest actors. It's just too expensive to attack the blockchain, even for governments.
Both left and right minded people should think this way is the next step in the evolution of species and self governance more than just political views applied to it
Interesting video didn’t realise the value of block chain until now it’s very useful but really boring. As for crypto currencies it’s still early days but they are the future just waiting for the winners to emerge, I’m not fussed about making money on them but seeing them implemented globally it would make life very interesting 😉🌶🌶
ethereum the big dick winner 💪💪💪
I'm looking for the book he mentioned: "The Wealth at the Bottom of the Pyramid" by Hernando de Soto. Not easy to find, so I think some part of it might be wrong. Any ideas?
I think the book he may have been speaking about is "Realizing Property Rights" by Hernando de Soto Polar
Thanks for this
I need as many sources of education to share
If one perspective doesn't get through to people, I try another
Even if I hadn't bought BTC, ETH and other cryptocurrencies, I would be fascinated by the space and trying to increase awareness. The fact that we can all prosper as the landscape evolves makes it a very personal revolution towards true sovereignty. A life made free from the toils OF other men, FOR other men with very little to show for myself. No longer will I be bound by the will of those with more than me.
Dutch public tv news the last weeks: nearly every day a scary bitcoin/blockchainstory...
I’m willing to bet one bitcoin that most of the powerholders are buying virtual money though.
How fucked up is that?!
The video didn't have to be so long. This guy could've been more concise. He kept on continuing the same points
central actors is a problem, gives absolute power to one
IOTA is the answer.
Maybe I'm dumb but this is all this is premised on an algorithm which I'm pretty sure can be changed. What stops anyone from writing a dear 4Chan message and f***ing it all up?
Crypto currencies are basically just credit, the conspiracy theorists will go nuts at this cashless society based on credit that has been creeping up on us.
but for the common good how r those jobs going to be replaced and with that model does it include the people not yet born? lastly, how does this move us forward with socialization within globalization. the hardest part in this transition is getting everyone together so all sides benefit as well as both-sides agreeing.
Replaced by unlimited freedom and money
but what does that mean because china is going back to a type of gold standard. as for freedom what does that mean to u.
I think if some countries start, and it appears to work, all other countries will follow up shortly, if it does not work, nothing changes for all countries. As for me, I am the one that would program the blockchain system for companies and I hope I would have to work less hours
but how could u make up the lost income from working shorter weeks and people who do paper work will be gone because this will take out the middle man and if no creations of new middle income jobs then it will shrink then what. it goes against the common good. with new ideas we must always replace jobs and there always has to be new jobs for middle class for the common good. that's been our problem now no replacement.
When it's automatically, the same money is still in circulation and that should be shared to ones that lost their jobs
Interesting
perhaps he should have started off by telling us WTF blockchain even is before he told us the pros and cons, because I'm still unclear.
Lol it's "big think", not khan academy :p
You’re on the internet, pause the video and do like 5 minutes of research..
Not everything has to be digitized and automated, especially voting.
Your logic is faulty.
YOU MADE THE CLAIM that anything that can be digitized should be digitized. So the burden is upon YOU to explain yourself. By the way, voting shouldn't be digitized, and block chain isn't as secure a solution as showing up to the polls in person.
THELAW 34 No, his claim was that not everything, especially voting, has to be automated and digitized. Not an outright claim that "voting should not be" automated and digitized. They are different claims.
Directly after, you posted that 'if it can, then it should.'
right?
mute the ums and the rights. Distracting from very important message
public speaking is an important skill that needs to be practiced.
right
right.
This guy seems to have read my work lol
I asked gpt if decentralized is possible
Real good bot from libertarian state
He says "uhm" a lot.
Right?
Uhm...
Um
Uhm, uhh
Can't take my eyes off his ears
Next: How the blockchain will cure cancer, end poverty, give everyone a free pony, and finally find my goddamn car keys.
God, what else are they gonna pull outta their arse?
Awesome. Do not the buyer enjoy with the seller.
In essence it eases the way money flows but with full audit included. I'm lightly invested in one cryptocurrency and I gotta say so far it's increased in value by 300% in four months. Not bad.
WOW you guys are falsely flagging youtube videos of legally usable content, poor show, unsub'd.
Had to block my eyelids open with toothpicks. He's not exactly the most dynamic speaker.
I was born in 1993.
I don't know what the hell this guy is talking about.
crime is important
ya yay ya, that's nice, and 0 (zero) jobs... fuck our lives
Actually, blockchain currency makes corruption that much easier.
Ima Pseudonym hahahahahahahaha hahahaha
I could not agree more, block chain doesnt garantee anything...
You sound severely uneducated on the topic.
The blockchain becomes the middleman. Said middleman can be corrupted, interfered with, hacked, insert X here that we've already done with bitcoin. Still not a solution.
LIMIT CYCLE No. That's not how blockchains work. You should do more research on how blocks are added to the chain and the verification process of how the longest chain is accepted on the network if there is a discrepancy between legers. If you lack a complete understanding of how the technology works, please do not make claims about it's corruptibility.
FIRST!
FIRST re
H. S.
Wrong!!! Bitcoin will die
Everything will, eventually.
Adam Abader how and why?
Bitcoin will die. Ethereum will dominate
Bish he didnt even talk about bitcoins, he is talking about blockchain being the future security system for economic transactions.
Luve Singh bitcoin is a currency made to be spent, that's how it keeps it's value. right know people are buying bitcoin and not spending it