Buckminster Fuller he was a a great guy he had a lot of interesting and
he had a lot of interesting and
he had a lot of interesting and insightful quotes and I’m gonna start a
insightful quotes and I’m gonna start a
insightful quotes and I’m gonna start a talk with one of them here is pointing
talk with one of them here is pointing
talk with one of them here is pointing out that if you actually want to change
out that if you actually want to change
out that if you actually want to change things and it’s it’s no good fighting
things and it’s it’s no good fighting
things and it’s it’s no good fighting right that doesn’t lead to anything in
right that doesn’t lead to anything in
right that doesn’t lead to anything in fact the way to change things is to
fact the way to change things is to
fact the way to change things is to create something new that obsoletes the
create something new that obsoletes the
create something new that obsoletes the existing order so I want to explore what
existing order so I want to explore what
existing order so I want to explore what the existing order is because unless we
the existing order is because unless we
the existing order is because unless we know that it’s going to be difficult to
know that it’s going to be difficult to
know that it’s going to be difficult to understand how it can change here’s a
understand how it can change here’s a
understand how it can change here’s a few pictures of some buildings places
few pictures of some buildings places
few pictures of some buildings places does anyone know can anyone identify any
does anyone know can anyone identify any
does anyone know can anyone identify any of these feel free to shout out New York
of these feel free to shout out New York
of these feel free to shout out New York Stock Exchange yep yeah that’s right
Stock Exchange yep yeah that’s right
Stock Exchange yep yeah that’s right Sega Montecarlo indeed yep okay so the
Sega Montecarlo indeed yep okay so the
Sega Montecarlo indeed yep okay so the UK Land Registry is the top right
UK Land Registry is the top right
UK Land Registry is the top right PayPal’s headquarters top middle and
PayPal’s headquarters top middle and
PayPal’s headquarters top middle and actually the bottom right isn’t quite
actually the bottom right isn’t quite
actually the bottom right isn’t quite the existing order the bottom right is
the existing order the bottom right is
the existing order the bottom right is the now-defunct Lehman Brothers Bank
the now-defunct Lehman Brothers Bank
the now-defunct Lehman Brothers Bank what do they all have in common
what do they all have in common
what do they all have in common institutions right they do things they
institutions right they do things they
institutions right they do things they they they sit at the center of society
they they sit at the center of society
they they sit at the center of society they manage people’s business they
they manage people’s business they
they manage people’s business they manage people’s assets they manage
manage people’s assets they manage
manage people’s assets they manage people’s transactions but I want to look
people’s transactions but I want to look
people’s transactions but I want to look a bit deeper I want to understand better
a bit deeper I want to understand better
a bit deeper I want to understand better what these all have in common
what these all have in common
what these all have in common in fact they operate in a pretty similar
in fact they operate in a pretty similar
in fact they operate in a pretty similar way they all have very specific
way they all have very specific
way they all have very specific operational building blocks they begin
operational building blocks they begin
operational building blocks they begin by accepting instructions instructions
by accepting instructions instructions
by accepting instructions instructions from their clients or from the external
from their clients or from the external
from their clients or from the external world really these are just messages
world really these are just messages
world really these are just messages they’re messages that are authenticated
they’re messages that are authenticated
they’re messages that are authenticated in some way for example a bank might by
in some way for example a bank might by
in some way for example a bank might by virtue of seeing me in person sign an
virtue of seeing me in person sign an
virtue of seeing me in person sign an order maybe it was a phone call a casino
order maybe it was a phone call a casino
order maybe it was a phone call a casino might often to get a message by simply
might often to get a message by simply
might often to get a message by simply having a croupier that sees that I am
having a croupier that sees that I am
having a croupier that sees that I am placing a bet with my chips on the table
placing a bet with my chips on the table
placing a bet with my chips on the table by moving them on to a particular
by moving them on to a particular
by moving them on to a particular portion
portion
portion the other two things are in fact
the other two things are in fact
the other two things are in fact computation and record storage so
computation and record storage so
computation and record storage so different institutions manage their
different institutions manage their
different institutions manage their computation and record storage in
computation and record storage in
computation and record storage in different ways a bank of course has lots
different ways a bank of course has lots
different ways a bank of course has lots of records of people’s account balances
of records of people’s account balances
of records of people’s account balances and the computation is relatively simple
and the computation is relatively simple
and the computation is relatively simple it’s addition and subtraction by and
it’s addition and subtraction by and
it’s addition and subtraction by and large with some multiplication for
large with some multiplication for
large with some multiplication for managing interest rates Casino might
managing interest rates Casino might
managing interest rates Casino might have a little bit more multiplication in
have a little bit more multiplication in
have a little bit more multiplication in there but very similar activities now if
there but very similar activities now if
there but very similar activities now if you break it down in this way we find we
you break it down in this way we find we
you break it down in this way we find we don’t quite get what it is to be one of
don’t quite get what it is to be one of
don’t quite get what it is to be one of these institutions there’s something
these institutions there’s something
these institutions there’s something missing this is what we would call a
missing this is what we would call a
missing this is what we would call a computer in the 1940s it’s it’s really
computer in the 1940s it’s it’s really
computer in the 1940s it’s it’s really the inner workings of an institution
the inner workings of an institution
the inner workings of an institution it’s a lot of people who are processing
it’s a lot of people who are processing
it’s a lot of people who are processing information they’re doing arithmetic
information they’re doing arithmetic
information they’re doing arithmetic there are some records at the back you
there are some records at the back you
there are some records at the back you can see in the back of the picture some
can see in the back of the picture some
can see in the back of the picture some drawers where they will get up and go to
drawers where they will get up and go to
drawers where they will get up and go to in all the store will retrieve some
in all the store will retrieve some
in all the store will retrieve some information and all the instructions
information and all the instructions
information and all the instructions coming in periodically from the
coming in periodically from the
coming in periodically from the mathematicians that actually want those
mathematicians that actually want those
mathematicians that actually want those computations to be done but this misses
computations to be done but this misses
computations to be done but this misses the point
the point
the point in fact the institution cannot simply be
in fact the institution cannot simply be
in fact the institution cannot simply be boiled down into these three things with
boiled down into these three things with
boiled down into these three things with a large building around them
a large building around them
a large building around them institutions deal with contention
institutions deal with contention
institutions deal with contention they’d have to deal with contention
they’d have to deal with contention
they’d have to deal with contention because they are managing economically
because they are managing economically
because they are managing economically important data the land registry office
important data the land registry office
important data the land registry office manages the information that determines
manages the information that determines
manages the information that determines whether I own some property or I do not
whether I own some property or I do not
whether I own some property or I do not banks have numbers in them the numbers
banks have numbers in them the numbers
banks have numbers in them the numbers are not meaningless numbers they
are not meaningless numbers they
are not meaningless numbers they determine the difference between rich
determine the difference between rich
determine the difference between rich and poor they manage contention by
and poor they manage contention by
and poor they manage contention by virtue of having this fourth attribute
virtue of having this fourth attribute
virtue of having this fourth attribute in addition to the three attributes of
in addition to the three attributes of
in addition to the three attributes of operation they have authority and it’s
operation they have authority and it’s
operation they have authority and it’s with this authority that they can
with this authority that they can
with this authority that they can determine that they can give semantics
determine that they can give semantics
determine that they can give semantics to these numbers to this data its
to these numbers to this data its
to these numbers to this data its authority which is the difference
authority which is the difference
authority which is the difference between the Land Registry being a
between the Land Registry being a
between the Land Registry being a shopping list of property that I would
shopping list of property that I would
shopping list of property that I would like to own
like to own
like to own and the difference between owning a
and the difference between owning a
and the difference between owning a house and not we can then build a better
house and not we can then build a better
house and not we can then build a better model of what it means to be an
model of what it means to be an
model of what it means to be an institution an institution is this
institution an institution is this
institution an institution is this information processing but it’s backed
information processing but it’s backed
information processing but it’s backed up with authority some institutions like
up with authority some institutions like
up with authority some institutions like for example aspects of the government
for example aspects of the government
for example aspects of the government their their authority is actually the
their their authority is actually the
their their authority is actually the military right the police force the
military right the police force the
military right the police force the security forces others rely on the
security forces others rely on the
security forces others rely on the government in order to exert their
government in order to exert their
government in order to exert their authority by virtue of civil law such as
authority by virtue of civil law such as
authority by virtue of civil law such as PayPal the banks and so forth and this
PayPal the banks and so forth and this
PayPal the banks and so forth and this is pretty a pretty good model of what it
is pretty a pretty good model of what it
is pretty a pretty good model of what it actually is to be an institution and
actually is to be an institution and
actually is to be an institution and therefore a pretty good model of how
therefore a pretty good model of how
therefore a pretty good model of how society works economically speaking in
society works economically speaking in
society works economically speaking in its innards we can model the way that
its innards we can model the way that
its innards we can model the way that society works as being a bunch of these
society works as being a bunch of these
society works as being a bunch of these institutions each of course with their
institutions each of course with their
institutions each of course with their own cartman their own authority and this
own cartman their own authority and this
own cartman their own authority and this is pretty much how society has worked
is pretty much how society has worked
is pretty much how society has worked for centuries now of course in the mean
for centuries now of course in the mean
for centuries now of course in the mean time there have been improvements to how
time there have been improvements to how
time there have been improvements to how we can determine whether a message is
we can determine whether a message is
we can determine whether a message is authenticated instead of using telephone
authenticated instead of using telephone
authenticated instead of using telephone calls or signatures we increasingly use
calls or signatures we increasingly use
calls or signatures we increasingly use things like elliptic curve cryptography
things like elliptic curve cryptography
things like elliptic curve cryptography a branch of mathematics that allows us
a branch of mathematics that allows us
a branch of mathematics that allows us to know whether someone purporting to be
to know whether someone purporting to be
to know whether someone purporting to be a particular identity is actually that
a particular identity is actually that
a particular identity is actually that identity without giving any of the
identity without giving any of the
identity without giving any of the information that could allow others to
information that could allow others to
information that could allow others to claim the same thing away instead of
claim the same thing away instead of
claim the same thing away instead of storing things in books we store things
storing things in books we store things
storing things in books we store things instead of magnetic media or
instead of magnetic media or
instead of magnetic media or increasingly little microchips
increasingly little microchips
increasingly little microchips solid-state media and rather than using
solid-state media and rather than using
solid-state media and rather than using abacuses or handwriting arithmetic we
abacuses or handwriting arithmetic we
abacuses or handwriting arithmetic we use of course silicon we end up with
use of course silicon we end up with
use of course silicon we end up with computers unfortunately within while
computers unfortunately within while
computers unfortunately within while within an institution that computers can
within an institution that computers can
within an institution that computers can allow things to go much faster than they
allow things to go much faster than they
allow things to go much faster than they would otherwise have been going between
would otherwise have been going between
would otherwise have been going between institutions and across trust boundaries
institutions and across trust boundaries
institutions and across trust boundaries they are of no use in fact the world is
they are of no use in fact the world is
they are of no use in fact the world is much like a set of walled gardens within
much like a set of walled gardens within
much like a set of walled gardens within the garden you’re free to play you can
the garden you’re free to play you can
the garden you’re free to play you can take in too
take in too
take in too you are you accept the authority of the
you are you accept the authority of the
you are you accept the authority of the household that actually owns the garden
household that actually owns the garden
household that actually owns the garden but it’s very difficult to get between
but it’s very difficult to get between
but it’s very difficult to get between the gardens in reality this boils down
the gardens in reality this boils down
the gardens in reality this boils down to banks and various financial
to banks and various financial
to banks and various financial institutions make having it very
institutions make having it very
institutions make having it very difficult time consolidating
difficult time consolidating
difficult time consolidating transactions that go between them but
transactions that go between them but
transactions that go between them but the more important thing is that as
the more important thing is that as
the more important thing is that as individuals and small business owners
individuals and small business owners
individuals and small business owners it’s very difficult for us to interact
it’s very difficult for us to interact
it’s very difficult for us to interact with each other if we don’t yet know or
with each other if we don’t yet know or
with each other if we don’t yet know or trust each other instead we have to go
trust each other instead we have to go
trust each other instead we have to go to these guardians of society these
to these guardians of society these
to these guardians of society these intermediaries these trusted authorities
intermediaries these trusted authorities
intermediaries these trusted authorities the middlemen in order to interact and
the middlemen in order to interact and
the middlemen in order to interact and this comes down we can see this every
this comes down we can see this every
this comes down we can see this every day if I want to interact with my
day if I want to interact with my
day if I want to interact with my friends I go to a website the website is
friends I go to a website the website is
friends I go to a website the website is called facebook.com I go and contact
called facebook.com I go and contact
called facebook.com I go and contact Mark Zuckerberg company in order to pass
Mark Zuckerberg company in order to pass
Mark Zuckerberg company in order to pass on a message to tell my friends hey
on a message to tell my friends hey
on a message to tell my friends hey maybe we should go out this is not quite
maybe we should go out this is not quite
maybe we should go out this is not quite the way the world was meant to be
the way the world was meant to be
the way the world was meant to be I should not need to contact Mark
I should not need to contact Mark
I should not need to contact Mark Zuckerberg
Zuckerberg
Zuckerberg in order to actually say hello to my
in order to actually say hello to my
in order to actually say hello to my friends there is a new technology which
friends there is a new technology which
friends there is a new technology which was mentioned just before I came on
was mentioned just before I came on
was mentioned just before I came on stage which changes things which
stage which changes things which
stage which changes things which obsoletes this old order this is my
obsoletes this old order this is my
obsoletes this old order this is my artistic rendition of this new
artistic rendition of this new
artistic rendition of this new technology atop the picture reads a
technology atop the picture reads a
technology atop the picture reads a pluribus unum from the many one and what
pluribus unum from the many one and what
pluribus unum from the many one and what the technology allows us to do is to
the technology allows us to do is to
the technology allows us to do is to come together globally speaking and form
come together globally speaking and form
come together globally speaking and form a consensus form a single opinion on
a consensus form a single opinion on
a consensus form a single opinion on what happened and when it happened and
what happened and when it happened and
what happened and when it happened and what should happen because of it
what should happen because of it
what should happen because of it effectively to form a single institution
effectively to form a single institution
effectively to form a single institution now the institution will operate
now the institution will operate
now the institution will operate correctly down to the rules of
correctly down to the rules of
correctly down to the rules of mathematics and economics that this
mathematics and economics that this
mathematics and economics that this system works on in effect everybody can
system works on in effect everybody can
system works on in effect everybody can ensure that the the system as a whole is
ensure that the the system as a whole is
ensure that the the system as a whole is operating correctly from their own point
operating correctly from their own point
operating correctly from their own point of view everybody has the
of view everybody has the
of view everybody has the to check in that sense blockchain has
to check in that sense blockchain has
to check in that sense blockchain has solved this issue of multi-party
solved this issue of multi-party
solved this issue of multi-party contention and it’s done so without
contention and it’s done so without
contention and it’s done so without having to have redress to a human
having to have redress to a human
having to have redress to a human organization we don’t anymore need to
organization we don’t anymore need to
organization we don’t anymore need to trust strictly speaking in order to
trust strictly speaking in order to
trust strictly speaking in order to interact economically with somebody that
interact economically with somebody that
interact economically with somebody that we do not know and that’s the first time
we do not know and that’s the first time
we do not know and that’s the first time that we’ve been able to do that in
that we’ve been able to do that in
that we’ve been able to do that in society which means practically speaking
society which means practically speaking
society which means practically speaking we’ve just commoditized this crazy asset
we’ve just commoditized this crazy asset
we’ve just commoditized this crazy asset probably the the most expensive asset to
probably the the most expensive asset to
probably the the most expensive asset to hold of all trust and I put it to you
hold of all trust and I put it to you
hold of all trust and I put it to you that in the future trusting an opaque
that in the future trusting an opaque
that in the future trusting an opaque institution a middleman
institution a middleman
institution a middleman merchant or intermediary with our
merchant or intermediary with our
merchant or intermediary with our interests will be as archaic a concept
interests will be as archaic a concept
interests will be as archaic a concept as reckoning on abacuses today thank you
as reckoning on abacuses today thank you
as reckoning on abacuses today thank you [Applause]
”
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