Hi thanks for tuning in.
Today I am talking about Blockchain with my good friend - Dr. Jan C. Rode, who leads the communication and PR efforts for Chainstep Gmbh. They are Blockchain experts sitting in Hamburg doing everything imaginable in this field from organizing all kinds of events from meetups and workshops to taking part in the upcoming congress from the Innovationsforum Blockchain on the 14th and 15th of November in Hamburg.
But, what really is a blockchain? What can you do with it? And how will I be able to feel the "revolutionary impact" everyone is talking about. All valid questions which we will get into. To start with a technical definition we have the following:
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)
The topic is so vast and gaining so much popularity that it would be impossible to cover everything in one post, episode or video. Everything from Blockchain's technology durability and robustness to its network's transparency and incorruptibility is fascinating but will be left out for future conversations.
I do want to point out that Bitcoin and Ethereum are the most popular Blockchain use cases until now, but they are different things at their core, and being named in my conversatino with Jan, I wanted to point out the difference.
At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.
Is Ethereum similar to Bitcoin? Well, sort of, but not really.
Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.
So, without much further ado, enjoy my conversation with Jan.
Links to conversation material
All music rights go to Julian Convex - Sumidagawa