24th May Learning Summary of Blockchain

Blockchain will challenge and change the current world cruelly and violently without any sympathy. In Satomo Nakamoto paper, there is not much of that mentioning the existing rules on the current world.

The blockchain disrupts and redefines the commonly accepted beliefs around the trust.

If we exclude the philosophical, emotional and spiritual cannodations when we think of trust, we find the following meanings: confidence, reliance, certainty and certitude.

As citizens and business people, we pick up a few commonly trusted institutions we commonly interact with on a daily life: government, bank, credit card company and utilized companies.

We trust those institutions because most of time they do a good job. Banks do not steal our money, instead, they let us withdraw it anytime we would like. Government offers services in return for collect tax. Credit card companies let us borrow money with added convenience of ubiquito. Utilities companies provide electricity, water and telecommunications as long as we keep paying our bills.