Editorial: Blockchains Will Become the DNA of Our Future Society

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An Editorial from Co-founder and co-host JJ Epic. Views expressed here represent only about one third of the shows views.


Darren and I started Neocash Radio to talk about Bitcoin and Cryptocurrencies as our main focus. Talking about the future of money today. What we ended up talking about was the future of technology, the future of software development, and the future information security.

While on one hand you have a few ever growing corporate behemoths on the other hand you have an array of new innovations created by individuals. The old model and the new. The old model required the consolidation of resources due to the scarcity of those resources. The resources include people and equipment which made sense to pack closely together into localized hubs. The new model is a sea of individuals directed by their own desires and passion, each working on a very small piece of a much larger puzzle. Like individual cells in a larger organism.

Bitcoin and open source development have created a new kind of money. A currency controlled by a protocol and a distributed ledger — a blockchain. Blockchains will become the DNA of our future society. A log of all the decisions made, the consequences, and the resulting sum. Using this technology for money was a master stroke. Now that the Blockchain is proven and widely adapted money will never be the same.

But it’s not really about money. It’s about the action created, the signal sent, and the time spent. Ultimately time is the only real currency. The rest are tokens for convenience. Or tokens of time, as in the hourly wage. What we are actually talking about the the future of humankind today, the future given the effect of the human actions created up to and including now. Whether sitting in front of a TV or driving a race car, in each case an action was created, a purchase was made, and time was spent.

With time, everybody starts out rich and ends up poor.

With near-instant communication, open source development, blockchains, and the rise of peer-to-peer protocols humankind can more closely mimic a well known, durable, proven system: the human body or carbon based organisms in general.

Individuals working together like cells forming an organ, all part of a greater organism. The Blockchain is the critical component. Like DNA, everyone gets a copy and there is no need to trust someone else. You can trust the DNA.

The trust that comes from the Blockchain is a by-product of consensus. The nodes and miners build a block through consensus and the network verifies it. In mere seconds a decentralized open source protocol gets everyone to agree on the same thing. A feat no man could hope to accomplish. With a divergent spectrum of proven and emerging blockchains, the future of choosing the right blockchain for you might look like trying on shoes.


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Episode 173 – Another huge bank scandal, IMF smells an uprising, and blockchain innovations soar

Here are the TL;DR headlines from today’s show:

Phony bank accounts a normal thing for Wells Fargo. Friday stocks drop but perhaps the news is being overblown. IMF managing direct warns: the natives are getting restless. Euro-zone is seeing price inflation for food. Finland tests out a basic income. Lykke Initial Coin Offering is underway, will it float? 2nd Largest BTC mining pool setting up a new pool for open-sourced testing of new mining techniques. SegWit is being criticized for the soft-fork approach. Is that a blockchain on your telephone pole? Utilities and the blockchain. Ethereum Classic is still kicking but for what and how will they innovate better than ETH?

All this and more here on Neocash Radio episode 173! Recorded September 14th, 2016 in Manchester, NH!

We’ve written out short overviews of the topics discussed on today’s show below; be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Stream this episode of Neocash Radio here:

Direct Download – Neocash Radio episode 173 (MP3)


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Episode 165 – Peter Todd Unsettled by Ethereum Independence

Bitcluster creates a database of bitcoin transactions. Scotcoin looks to be the next player on the altcoin craze. Ethereum Hardfork Review and the dregs of Ethereum Classic. Mycelium to add Dash by October. Coinbase adds Ethereum to their front end retail site. The shift from bitcoin dominance is happening. Caribbean banks feeling the sting of money laundering concerns.

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Episode 128 – Banks are Under-Capitalized the World Over

Darren gives us a recap of the Keenevention. The US debt ceiling was raised by a vote in the middle of the night… again. Australian banks balk at bitcoin due to criminal dangers. Venezuela wants to sue a website in US courts. Greek banks are under-capitalized. US banks are under-capitalized.

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Traditional Markets

Gold $1142

Silver $15.54

Oil $46.34

Dow 17,663

30 year treasury 2.924%

Crypto Markets

BTC $320

LTC $3.60

ETH $1.05

News

Keenevention Rundown
Debt ceiling deal

http://www.usnews.com/opinion/economic-intelligence/2015/10/28/debt-ceiling-budget-deal-doesnt-have-much-to-like

Australia banks abandon bitcoin

http://www.smh.com.au/it-pro/business-it/bitcoin-flounders-as-regulatory-worries-bite-20151004-gk14ld.html

Venezuela cracking down on black market reporting

http://www.theguardian.com/world/2015/oct/23/venezuela-sues-dolartoday-currency-website-cyberterrorism

Greek Banks in the hole 14bn euros

http://www.theguardian.com/world/2015/oct/31/greece-banks-14bn-survive-economic-downturn

US Banks have new rules that leads to an $120bln shortfall.

http://www.reuters.com/article/2015/10/31/us-fed-capitalrules-idUSKCN0SO2IA20151031

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Episode 111 – Bitcoin Fork and Haircuts in Greece

Bitcoin Users are urged to upgrade their bitcoin core software to version 0.10 or higher. Chinese stock market loses 1.5 trillion Pounds in value. More hype about the Federal Reserve raising interest rates. Greece may be forced into another bail-in “haircut” for accounts holding more than 8000 euros. Bitcoin miners building bad blocks cause a little concern but things are well on the way to returning to normal.

 

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Episode 91 – Hackers Run Rampant

Let the Bit Drop event cancelled. Darren testifies at New Hampshire state house.  Watch the testimony here. Traditional Banks are hacked over a 3 year period. BTER, a Chinese bitcoin and altcoin exchange is hacked. MyCoin evaporates and investors complain to Hong Kong Police that they have been scammed. Amanda B Johnson would prefer to use bitcoin over fiat at nearly any price – why?

 



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Episode 76 – Get Surgery With Bitcoin and Gold in Oklahoma

Jon Matonis is stepping down from the Bitcoin Foundation. The 1970 US Bank Secret Act is declared obsolete. Crypto Passports could offer more online identity solutions. BTC Guild was set to shutdown in three months but now may be sold instead. Blockchain.info raises $30.5 million. FinCEN declares bitcoin payment processors and exchanges as “money-transmitters”. Amanda writes about buying surgery with bitcoin and gold. Mattheus writes about the bitcoin scene in New Hampshire. Home loan applications are the lowest since February.



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Episode 24 – The Powerful Bitcoin Network

The Bitcoin Network increases in hashrate and difficultly while the currency rises in price : China bitcoin markets are climbing in price : Bitcoin Financial instrument trading sites close : Capitol One closes accounts over bitcoin : New exchanges open for the dollar to bitcoin bridge : Bitcoin client downloads surge in Q3 over Q2 for India and Brazil : Security : Silver : Gold

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