block chain chain of blocks
how many of you have heard of
block chain in every way in the newspapers
internet and how many of you could say
what exactly is glock chain
in short it is what I will try
to do mine in this short time
story does not start with code
programming but with a poker hand
Imagine playing poker with
people you do not know and belong to
of a game where nobody to money
cash or fish and that on the table
apart from the cards there is nothing else
as well as sheets of white paper
sure you could cut out the sheets of
paper in small circles and make of them
chips but not trusting one of the
others
you are afraid that they can cheat to
example by cutting secretly
chips or passing select under the table
decide then to distribute these
pages
to each one and you commit each one to
write who bets as much as who wins
and who loses
everyone holds their copy next to
visible to everyone
in this way if someone commits a
error or try cheat or even if a
couple of players try to get together
to make someone lose particular
the discrepancy becomes evident to everyone
after a couple of hands you will have filled one
page with a register of exchanges of
money
we call these pages blocks of
transactions after one hour
you will probably have several pages and
you will have started numbering we call
this cli coordinate of chain pages
of transaction blocks you have created
a block chain
the first and most important
implementation of block chains of which
surely you will have heard of it
you called bitcoin in 2008 just
while the financial industry
United States not only entered one
deep crisis a person or a
collective under the pseudonym of
satoshi nakamoto publishes an essay in
which illustrates a technology that for the
first time allows you to transfer
digital value without needing
trusted intermediaries and this act
apparently simple triggers one
spark that causes fear and amazement
interest a little everywhere but we do
take a step back and go back to poker
bitcoin is a software that works
exactly like a huge table of
poker in which millions of people who do not
they know each other and do not trust each other
others keep a chain up-to-date
of blocks so many pages with the history of
all transactions are exchanged
actually money but many are alone
of the volunteers they make available
its computing capacity with i
computer to verify and hold
synchronized this story of
transactions
have millions of people holding
synchronized separately this
history may seem like a good way for you
guarantee security and integrity
of the same actually in a system
completely decentralized as
bitcoin in which there is no authority
central such as a bank a
monitor transactions and avoid
frauds pose some problems to
example who guarantees us that only the
legitimate owner of the funds can
actually send them and who there
guarantees that he can do it once
one
the bitcoin protocol offers guarantees
math these problems thanks to
cryptography
and that’s why being based
on bitcoin encryption is also
call the first crypt currency in
particular thanks to digital signatures
the bitcoin protocol ensures that the
transactions come only from their own
from the rightful owner
and thanks to other based devices
on cryptography this great
protocol this large register
accounting value is distributed
resistant to compromise and hacking
we have almost given in the last few decades
for granted having access to the so-called
information internet if I send you
a file a mail I’m not sending you
the original but I’m creating a couple and
there is no problem is democracy
information but with regard to
properties such as homes actions
money just send a copy is a
big problem , you are worth a thousand euros
it is important that I then those one thousand euros
he does not have them any more and he can not
spend again as said the
small protocol solves these
problems that has long been known in
cryptography and in science
information as the problem of
double spending thanks to cryptography e
for the first time he realizes the concept
of scarcity of a digital good indeed
there is a limit
number of bitcoins that will be in
circulation and the inflation curve
and immutable writing in the protocol al
today our economy is based
on some intermediaries and trusted to whom
we delegate fundamental functions to
example insurance banks and notaries
they work well but they put some
problems are centralized first
they can be hacked and therefore
compromises we hear every week
news about it
the last one, for example, the compromise of
equifax exclude billions of people
from the global economy slow down i
processes takes seconds to send
an email from the other side of the world
while it may take seven days to
send a wire transfer in some areas e
finally they impose high costs of
transaction to send cash
in some areas of Africa the
commissions can exceed 20 per
one hundred
and if together in parallel with the Internet
information we had an internet
of value a large accounting register
distributed a natural means of
transmission of this digital value
great challenge is that which arises the
technology that we call block chain
bitcoin is one the most important but one
glock chain there are many others and
tir hume is a block chain written by
a Canadian Russian boy named
vitalic but are in at the age of only 19
years and its most characteristic
extraordinary is the possibility of
enter into smart smart contracts
with jobs they are real
contracts in programming code
that are executed in a distributed way
without any intermediary like ad
notary example
authors and deal with management
fulfillment execution payment in
completely integrated way and ad
today on the ethereal chain blog there are
of projects ranging from
replacement of stock exchanges and stock markets
to crowd funding start up games
gambling with cryptographic guarantee of
correctness even new models of
democracy that surpass the ideologies of the
twentieth century and make politicians
really responsible towards the
citizens
don tapscott here at ted wonders how
we can solve the problem of
inequality we can create new ones
approaches to this problem so far
the main approach was
redistribute wealth through the
taxes, for example, but if we could
change the way you generate it
wealth by democratizing including it
more people in this process e
ensuring that everyone receives the
just the right second compensation
hernando de soto the great economist al
Latin American the first problem
the first obstacle to mobility
economic in South America and the lack of
titles of reliable properties in areas
where access to the bank account is
very rare not to be able to demonstrate
owning a land means not
be able to put it as a guarantee for a
loan and therefore can not do
plans for the future
in honduras where the problem is
particularly felt the government is
collaborating with a Texan company that
deals with block chains to put the
property records on this
technology in this way are
distributed are resistant to
compromises are publicly
verifiable follow this example
could potentially create
prosperity for billions of people
it is estimated that more than two thirds of the
landowners in the world do not have
a full title of property
the greatest flow of money from countries
developed to developing countries
are the remittances of the emigrants and the
global diaspora people who leave the
own country of origin
their family and go to work
in other countries every month they send home
in your country of origin, part of the
their salary
it is a market of more than 600
billions of dollars a year and it is
growing up a Filipina maid who
he lives in the United States and wants to send
money to his mother in the philippines with
western union must pay almost 10
percent of commissions and the process
lasts 47 days there is an application
based on blog there is in call to bra
allowing you to send through
bitcoin funds instantly to the
mother appears a notification your daughter that
he sent 10 thousand pesos she does not have to
know bitcoin to a map similar to
that of huber in which there are many
little men moving just a bit like
huber taxis select that one more
close or what to the most feedback
tall and these people for a little one
commission are willing to do from
cash courier on behalf of abra
in this way he selects 1 knock on the
carries and receives his 10 thousand pesos in
few minutes
the process was almost instantaneous and
it only cost 2 percent of it
commissions that have remained
in the local economy
I believe that follow this example
it would create prosperity for billions more
of people
the great majority of authors e
creatives do not receive the right reward
because the property system
intellectual is ineffective
we take music for artists as an example
only the crumbs remain at the end
of the food chain
imogen heap great singer-songwriter
winner of two grammy decided to
move his music on a system
based on block chaining of ever name
silia
it’s an intelligent contract
intelligent that integrates a system of
payment and defines the terms of the
Intellectual property
for example if you just want to listen to the
song is free or costs a fraction
penny if you want to use it like
ringtone is different if you want to use it
as a soundtrack to a film
obviously still different and as
This system also integrates payments
the money remains in the hands of the
artists if different are eliminated
intermediaries and this does not apply
only music but it applies
potentially to every creator of
video content, inventions, etc.
block- chain technology though
in his childhood he is configured as one
great and concrete opportunity for
rewrite the network of economic exchanges
solving some of the issues
more important and difficult global ones
allows you to exchange money and assets
physical and digital in new ways could
make some institutions obsolete a
to which we delegate fundamental functions
of our society as banks
insurance and notaries forcing them to
become more decentralized and more
sure could prove to be a formidable one
instrument of democratization of the
resources of wealth its nature
transparent could help solve
millennial problems like corruption
allowing for example citizens of
verify the flow of public funds
could revolutionize the world of no
profit allowing to donate to projects
publicly verifiable
and all this is a bit silent
already happening thanks
[Applause]
”
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