I love this article – The Promise of Blockchain Is a World Without Middlemen, by Vinay Gupta – for the fascinating business model ideas Vinay uses almost like punctuation.
Airbnb rentals that offer custom furnishing options (since transaction costs have plummeted and the logistics are no longer a barrier). A Walmart with the diversity of Amazon. Off-the-shelf weddings that are totally customisable.
Vinay opens the door to a whole new realm of creative economic relationships and customer service.
The fundamental question seems to be:
“What if your database worked like a network — a network that’s shared with everybody in the world, where anyone and anything can connect to it?”
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Noticing an awful lot of declaring victory over risk by Central bankers (Yellen saying no Fin. Crisis in our lifetime).
Makes me nervous. https://t.co/aF7ItxpoWn
— Angela Walch (@angela_walch) July 3, 2017
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Just over a year ago, Gideon Greenspan wrote an excellent article which set out with clarity and brevity the main differences between a blockchain and a centralized database.
In this time of overblown hype, it’s worth revisiting.
The main takeaway is this: if you want to retain control of the database, a blockchain isn’t for you.
If, however, you want to benefit from others’ participation, and need a robust solution, then a blockchain could help.
If confidentiality and performance are priorities, then a blockchain is not the best solution.
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And now for a bit of warm, fuzzy cuteness (go on, I challenge you to not smile):
(the lion cub’s my favourite)