Presented at the Singularity University's Innovation Partnership Program (IPP), this is an entry level talk about bitcoin by Andreas Antonopoulos
the ability to see behind the illusion of what people thought bitcoin was
it isn't appear to be as it is at first glance.
a platform of trust
concept of decentralization applied to the human communication of value
from institutional based money to network based money
not money for internet but the internet of money
on the verge of a new transformation of money
we are on the verge of creating the first completely global completely borderless completely decentralized and completely open form of money
one where you can build applications because this money is programmable and you don't need to ask anyone's permission to launch an application anymore than you need to ask permission to launch an application on the internet.
and the only requirement to have a successful application on the internet of money is two interested participants. that is your market segment and you have an application and a million applications will flourish.
when you push innovation to the edges of the network, when you remove the requirement for permission, what happen? exponential explosion in innovation. the application that could not be built on the old system of money because they require permission, because they require a significantly large market segment, because they require adoption by many in order to be available at all
now none of those requirement exist.
anyone in the world can download an application or use even a feature phone with text messaging and immediately acquire the same power the institutions of banking have today.
bitcoin doesn't matter if you are a person or a refrigirator or a self driving car.
bitcoin can be own by machines, can be own by software agents. machines can pay each other.
it's the basis for market based security system. it's the basis for creating bonds of authentication between devices. it's the basis for new applications that have never been done before.
bitcoin or blockchain technology unifies the system of money.
you can take the building blocks of this platform and use them to construct other languages that communicate value.
