Huffington Post: the power of block chains and technical singularity

nnnRampage commentary: The application of block chain technology involves all walks of life, it is important just like the information Internet, it can bring the value of frictionless Internet. The main regulatory issues facing the venture companies are also facing the problem at the same time in the past good direction. Although innovation is bound to bring about the reform and reorganization of power, but the global block chain business committee and other institutions in the promotion of block chain technology and social harmony play an important role.n
nnTranslation: Annie_Xun
nThe third annual blockchain summit, run on the British billionaire Richard Branson’s Neck Island, came to an end with a full-fledged chain service company BitFury, a technical expert and a risk Investors Bill Tai. The conference was a cordial gathering of technical, policy, investment and business leaders in various fields around the world. Topics include the impact of advocacy of basic technology on public policy, based on the new business model on the underlying structure of digital currency rich in foreign currency. The key question of the summit is if the block chain can not leave the existence of the Internet, what can not leave the block chain exists?n
nBlock chain technology can undoubtedly change all walks of life, especially the existence of Byzantine problems, friction opaque business model. Although many early pioneers focus on finance and insurance, the opportunity for this new technology can reorganize social order. For example, Estonia’s famous case shows a country to remodel itself as a digital country that is not being eliminated; citizens and the world’s people get near-real-time services. The same well-known Peruvian economist Hernando de Soto improves the potential of land property registration projects promoted by BitFury in many countries. Land and property are the two main assets of people, but also the main tool of value creation and wealth transfer. An unmodifiable, safe and transparent registration process can make the world more comfortable and make the leaders more durable.n
nThe power of this unique technology is the singularity of the distributed nature, the pioneer of the identity chain of the World Identity Network in Neck Island, pioneer Mariana Dahan, Civic’s Vinny Lingham from this concept Draw inspiration. The block chain runs based on a distributed book system, which makes a strong transaction record and adds timestamps. Although some people say Bitcoin is the “killer application” of the block chain track, it is easy to conclude that the killer application is not a digital currency on the chain chain, but rather the entire system. Two trains run on the track. But the high-speed maglev train is faster than the steam engine traffic. The maglev train does not touch or rarely touches the track so that traffic does not rub; the block chain can greatly reduce the global shift and record the value of the friction. If the Internet indicates a friction-free information sharing, the block chain predicts the frictionless, non-friction value transfer. Here lurking a real deep change in the field, the block chain recognition is still in the planting stage, many seeds have been growing in the island of Neck.n
nNow the block chain standard dispute (in fact, unprecedented case study) is mainly in the cash transfer market, the Barbados entrepreneur Gabriel Abed founded Bitt and Elizabeth Rossiello founded BitPesa company brought low-friction large-scale business model. The most encouraging is that these companies did not avoid the regulatory system, but to embrace them, so that the reputation of the encrypted money market legalization. BitPesa has received regulatory authority from the world’s most stringent financial regulator, the Financial Markets Authority (FCA), and Bitt has created a truly pan-European currency that has been accepted by many central banks. In short, digital money and non-friction of asset transfer will not disappear, Bitt and BitPesa this has been harmonized with the existing financial rules of the vanguard, the more prosperous the field.n
nNeck Island’s block chain summit is to encourage innovation breakthroughs in various fields. If the Internet is really groundbreaking technology, the block chain is to enhance the technology, can greatly improve and expand many of the existing business model and management model. The corruptness of the corporate, institutional, and government credibility of this era has revolutionized the world, and the trust engine of the block chain can support reliability and transparency. Similarly, the proliferation of cyber threats to the global companies and countries difficult, block chain is not only an important source of transparency, to remind people that the sun is the best disinfectant, can also be a global disaster recovery and commercial continuity engine. The safety performance of block chains is often underestimated, but these are the most important characteristics of block chain technology. In fact, the block-chain distributed structure is the best specification for network security redundancy settings, so many organizations are struggling to follow.n
nIn the block chain and block chain billionaire may appear where the beginning of the idea of ​​contending, the value of a single transfer (smart contract function). Sharing the economy will undoubtedly stimulate people to abandon the traditional ownership of assets, in exchange for a part of the desire to visit and use. The block chain escalates this subconscious by giving birth to the same market dynamics, but provides a powerful enough system to survive in Thomas Friedman’s fiery, flat, crowded world. Imagine a skill engine that allows people to re-plan themselves, get important verifiable certificates, and join the job search team after frustration or unemployment. There is no block chain, this assumption is not only costly too high, and the extraordinary central features favor the obsolete algorithm model, so that millions of job seekers fall behind. The block chain eliminates the possibility of this “reshaping the engine” and provides efficient and efficient community ownership and transparency, and eventually becomes a public service.n
nIn fact, one of the most potential companies that focus on the chain of chains is Australia’s PowerLedger, founder Jemma Green, the world’s true block-chain chain-chain dreamer. Her company uses the technology of the block chain and the power of the center to emphasize the use of sustainable energy in an unimaginable way.n
nDecomposition of urban energy is important for human resilience and development, and it is important to build a rural energy development environment, combined with new distribution and payment models. PowerLedger has been on the way to solve these challenges, the block chain is the center of both.n
nBlock chains will continue to exist, the warmest lovers of enthusiasm, including the enthusiasm of Neck Island, should be reasonably considered the fact that the market decides all breakthrough innovations. So large enterprises and existing value combinations and transfer patterns are cautious towards the contempt of the block chain. This attitude may allow many participants to come to the history of the error, even worse is eliminated. In fact, the emergence of global industry organizations quickly in the world to write a new chapter, such as the global block chain business Council (Global Blockchain Business Council), block chain trust accelerator (Blockchain Trust Accelerator), to achieve the standardization of technology, critical To create case libraries that do not threaten global power.n

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