This is part of "Fight The Power," a series about the people, organizations and countries transforming the way we think about energy for the better.One way to get a job with the company you think will help save the planet is to say you'll work for free.That's what Canadian Meagan Cojocar told David Martin two years ago over coffee.She was 21 years old. The company was Power Ledger, co-founded by Martin. The tiny Australian startup was at the forefront of a trend in solar energy: using blockchain technology in solar energy trading. Power Ledger had pitched an app: If you have solar energy panels, you can download the app and enter a marketplace for selling excess energy directly to your neighbors. The kicker? You can set the price, instead of being ripped off by stingy power companies.Blockchain was Power Ledger's answer to keep people using green energy. It could be the future of distributed renewable energy, putting that power in the hands of the consumers.All I understood … [Read more...] about Forget bitcoin. Blockchain has plans for solar energy
Blockchain is being billed as a technology that will improve visibility, productivity and security for business. In fact, some have gone as far to say that its system for record-keeping, transparency and verification could replace the role of trust in our society.A global realisation has emerged that the technology can bring new efficiencies to commerce and profoundly change how the world conducts business and interacts with governments. The advent of blockchain is fuelling a huge number of start-up companies focused on specific industries and consumer applications and governments are considering how blockchain can make tax reporting easier while reducing fraud.The technology explainedInvented to support Bitcoin, blockchain is a digital version of a classic ledger book, holding a list of transactions or events people want to track. The most important and disruptive feature of blockchain is that it’s a distributed ledger—multiple parties have a copy of the entire ledger. … [Read more...] about Is your business blockchain ready?
John Oliver is known for his eloquent explanations of complex topics like net neutrality. Now, he’s turning his attention to the internet’s favorite topic of the moment: Bitcoin. It’s “everything you don’t understand about money combined with everything you don’t understand about computers,” quips Oliver, correctly. The 25-minute video uses $15,000 Beanie Babies, an interview with a man using chicken McNuggets as a metaphor for blockchain, a video of Brock Pierce (The Mighty Ducks child actor turned crypto-entrepreneur) talking about his unicorn wedding at Burning Man, and a HODLGANG rap music video to explain the phenomenon. (“Hodl” is a slang term used in the Bitcoin community meaning “hold on to” the cryptocurrency and not sell.) “The important thing to remember here is this is a brand-new, very complicated space and literally nobody knows how it’s going to develop, so you need to be careful,” warns … [Read more...] about Watch John Oliver explain Bitcoin using $15,000 Beanie Babies and rap videos
With every new technology, there is hype and there is reality. Binary District Journal attempts to separate the wheat from the chaff and put to rest the common myths surrounding blockchain. Everyone and their grandmother has heard of blockchain technology by now — unless you’ve been living under a rock, that is. The best way to understand blockchain is to think about it as a collection of records, or as a sort of ledger which contains transactions (financial or otherwise). Now here’s the twist: this ledger is shared between a network of computers and is updated and reconciled regularly. In other words, it is a distributed ledger. This is the essence of blockchain. Blockchain technology came to prominence with the advent of Bitcoin in 2008 – the cryptocurrency credited to the mysterious Satoshi Nakamoto. The potential applications of Blockchain are numerous: it is already being put to use in everything from transferring money and arranging gigs for … [Read more...] about The 13 most common blockchain myths explained
Bitcoin, Ethereum, and other cryptocurrencies have entered the mainstream discourse, but they’ve also been joined by a concept that is widely circulated, but poorly understood: “the blockchain” or just “blockchain.” The idea of a blockchain, the cryptographically enhanced digital ledger that underpins Bitcoin and most cryptocurrencies, is now being used to describe everything from a system for inter-bank transactions to a new supply chain database for Walmart. The term has become so widespread that it’s quickly losing meaning. “What is a ‘blockchain’? The word is a buzzword that is increasingly ill-defined,” David Gerard, author of Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts, said in an email. There are countless blockchain explainers in text, audio, and video around the web. Almost all of them are wrong because they start from a false premise. There is no universal definition of a … [Read more...] about ‘Blockchain’ is meaningless