Ethereum And The Future Economy
Who Is This Dude?Ryan GoekenTwitter: @pixelsnbits
Age: 2 x 2 x 2 x 2 x 2
Occupation: Something to do with computers.
Qualifications:
- Owns a computer- Achieved a C+ on a Bitcoin course on Coursera- Enjoys considering the future- Coming to Terms with being Libertarian Socialist (Probably)
Buckminster Fuller’s Challenge:“To make the world work for 100% of humanity in the shortest
possible time through spontaneous cooperation without ecological offense or the disadvantage of anyone.”
First, the Blockchain
Blockchain Basic Overview● List of Transactions, compounded over time
○ Verified cryptographically by computing resourceson a decentralized network of nodes
● Popularized by Bitcoin as public ledger of currency transactions
● Simple Visual Analogy: Stacking Lego bricks
* https://stats.ethdev.com/
What is Ethereum?
Critiques
● Assumes Ethereum is de facto platform
● “Planetary Scale”
○ Has Potential, Currently Only Few Thousand Peers*
● Ethereum is the application backbone, still uses existing Internet infrastructure
○ User connections to the Internet backbone are provisioned by profit-driven corporations, i.e. Comcast, AT&T (Internet Service Providers)
* https://stats.ethdev.com/
Potential Applications● Avoid Censorship
○ No Central Authority
● Transparent Governance (Corporate or Political)○ Collectively, Democratically dictate the division of labor and product of labor ○ Example: “Workers’ Self-Directed Enterprises”*
● Secure Communications○ Secure transactions on the Blockchain contain the encrypted content of the
message○ Example: Video/Photo, Text, Group Chat
* ”Democracy at Work: A Cure for Capitalism” - Richard Wolff, Marxist Economist
Smart Contracts:
Contracts are traditionally enforced through laws or courts of arbitration whereas “smart contracts” are enforced cryptographically with consensus on the Blockchain without the need of a central authority.
Who is Ethereum?
Notable PeopleVinay Gupta Imogen HeapVitalik Buterin
Inventor Strategy Consultant Evangelist/Producer
Why Ethereum?How is it different from Bitcoin?
● Represents a new layer on an alternative economic model
○ Bitcoin = legitimacy for alternative currency
○ Ethereum = legitimacy for a new economic platform
● Large following in altcoin community, Yearly Developer Conference, DEVCON○ Sponsored by Microsoft
Example Use Casesslock.ithttp://slock.it
Allows for owners to rent out their own “smart property” using Ethereum to make smart contracts (Bluetooth door lock, Bluetooth bike lock).
● Airbnb-esque rental contracts without going through escrow or banks.
Ujo Musichttp://ujomusic.com
Allows for a content producer to enable quick transactions to the consumer that can immediately be sent to all parties involved in the production, bypassing labels or agencies.
● Imogen Heap released ‘Tiny Human’ using the Ethereum platform.
Dream Use CasesCSA Access● Customer purchases CSA Share from a
local farm● Produce delivered to secure garage● Customer uses iPhone to open Bluetooth
lock● Monsanto is not involved anywhere in the
process
Band Tip Jar● Band plays a show at a venue and has a QR
code at the merch table● All band members paid immediately to
their individual accounts● Band members use the money to buy
beers right after the show● No cash needed to be counted, instant
gratification
Questions?
https://duckduckgo.comhttp://ethereum101.org