How the blockchain will radically transform the economy | Bettina Warburg
Economy | Information | History | Online | Facts | World | Global | Money
Say hello to the decentralized economy -- the blockchain is about to change everything. In this lucid explainer of the complex (and confusing) technology, Bettina Warburg describes how the blockchain will eliminate the need for centralized institutions like banks or governments to facilitate trade, evolving age-old models of commerce and finance into something far more interesting: a distributed, transparent, autonomous system for exchanging value. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/translate Follow TED news on Twitter: http://www.twitter.com/tednews Like TED on Facebook: https://www.facebook.com/TED Subscribe to our channel: http://www.youtube.com/user/TEDtalksDirector
Comments
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Certainly interesting, but the topic seems too complicated to cover in 15 minutes.
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Yeah a dabbled in n bitcoin a few years ago, I have no idea how to access it, the private and public key thing is too confusing. So now I have money in a wallet that is useless to me, it's that secure that I can't even access it.
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I would love to see her in a POV
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Anyone using this for construction contracts? I don't mean paying for them in bitcoin that is just unstable to pay for materials. What I'm taking about is creating a contract that doesn't release money until certain stages are completed and both parties have sign up for it. If you are doing it or know how to set it up in blockchain let me know.
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So pretty omg
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When everyone has control, then no one has control!
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She is hot so she must know what she is talking about.
She should have done the talk i something more revealing and form fitting. -
This is potentially horrifically and nightmarishly devastating. Especially the way she is so happily trying to sell it to us without illustrating the blatant risks and surrendering required by the users or even those who aren't a user but whose transactions are documented unwittingly.
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why so many dislikes?
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It took 17th century Europe 500 years to finally begin to trust and use paper bills. That was without the internet. It will probably take us a couple more decades along with some massive crony bailouts to switch completely over.
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-Who are you?
-Who/what company/institution do you represent?
-Who invented blockchain?
-I've eard that this is used for bitcoin transaction, but what was this system first used for?
-Could you give me a example of a real world application that it can have?
-If a war/conflict broke out how could this be managed in order to help or destroy us?
-Why, if this and bitcoin are so good, are the wealthy still buying land, gold or precious metals?
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All in all, I see a lot of talks about this but mainly I've only learn that terrorrist, pedofiles and smugglers use this... I can't trust a system that I don't understand and keeps telling me "buy me!", "use me!" butt when I ask "who is behind this?" or "what are you?" it cannot give me a straight answer. -
Blockchain is innovative and inspiring.
However, government and economics determines the value of the currency, use proof of work(CPUs and electricity, they are not scarce resources) instead of Gold and USDs as the backbone, based on the "mining" method that is somehow based on luck, there are a LOT of uncertainty there.
Also, universal currency just does not make sense to me. Think about Greece and the Euro. -
she sure did a good job of vaguely describing what a blockchain is again and again and again . . . and again. But the core of her argument is that it makes it easier to perform transactions because it limits current uncertainty. Unfortunately she could have done better to describe what exactly is uncertain now that will be made certain by blockchain. If people can make backroom deals and falsify records now why can't they do it with blockchain too? As far as I'm aware all this does is prevent them from changing it after they've inputted the information.
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also 90% of wikipedia is false info thanks to the powers that be! look it up if you think im lying
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OH the HORROR IS REAL😮😖😨😩.this sounds worse than the spying from the NSA! ALSO SO CONFUSING. SEEMS TO ME THERES MORE CONS THAN PROS. I GOTTA SCOUR THE INTERNET NOW ITS SO SCARRY! SHE COULD'VE ELABORATED MORE ON THIS
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But who is going to police it? Who will oversee the transactions? They may be secure between individuals, but what if they are illegal?
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Could someone receive an item, e.g. Iphone, through the post, then just say they never got it? Or would it make everything had to be signed for ect... what happens if thier is a problem? If theres no third party what would you do?
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Just remember these people are only there to help the rich get richer
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Economists have been incredibly bad at understanding behaviour!
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