Blockchain Beyond Bitcoin

Featuring Ash Bennington

What if the intense media focus on bitcoin and other digital currencies is missing the big story of business blockchain? Real Vision’s Ash Bennington investigates, interviewing blockchain specialists from IBM and KPMG, the founders of cutting-edge blockchain startups, and independent experts in the space. Filmed in July, 2018 in New York.

Published on
1 August, 2018
Topic
Valuation, Crypto-currencies, Bitcoin
Duration
29 minutes
Asset class
Crypto-currencies
Rating
24

Comments

  • OD

    Orin D.

    12 8 2018 00:24

    0       0

    This is a great video for a beginner detailed intro to blockchain, really useful

  • OD

    Orin D.

    12 8 2018 00:24

    1       0

    This is a great video for a beginner detailed intro to blockchain, really useful

  • NG

    Nick G.

    4 8 2018 10:26

    0       0

    I am relatively old and non-techie. So my comments might even be stupid and I accept that.

    I get the potential usefulness of blockchain in many applications, as described in the video. I understand that there are many problems, as outlined, to make it useful in all cases. However, I have never understood the link to bitcoin. Why do you need bitcoin (or any other digital currency) to make blockchain work? And if you do not, what is bitcoin but a "rare coin" that you might want to collect just as a numismatist might collect ancient Roman coins, for their beauty as opposed to their value? What is the difference? I have asked some "very smart" people and never really got an answer. Since you should never invest in something you do not understand, this LINK between blockchain and bitcoin (or other coins?) is something RealVision should do a video about! Please!!!

  • PG

    Philippe G.

    3 8 2018 23:54

    1       0

    Very interesting!

  • PG

    Philippe G.

    3 8 2018 23:54

    0       0

    Very interesting!

  • PN

    Paul N.

    3 8 2018 13:13

    9       0

    These guys promoting blockchain solutions for enterprise are hand-waving away the most difficult issues they face and just assuming that organizing data into a linked list is better:
    1. Why is replicating data across dozens or hundreds of computers more efficient? (it isn't)
    2. What is the consensus mechanism that secures your database? (Proof of Stake is theoretical hand-waving that has never been deployed at huge scale, Proof of Work is extremely expensive on purpose, Central Administrator means you probably don't need a blockchain)
    3. How do you securely LINK the database you've created to the physical good or service it's supposed to record (you can't).

    For example, the organic food use case makes no sense at all. Who puts the data about your organic banana into the chain? Who ensures that that data is correct? How do you know that its not referring to a different banana? What if that QR code gets swapped with a different vegetable accidentally or just gets lost? Does that banana no longer exist? The blockchain has no idea whether whatever data you're stuffing into it is accurate or relevant and it has no idea who is putting in that data - all it can say is that X data was entered in at X time. And if the company decides that a different history of transactions is the truth, it can just discard the original. It's not immutable in any meaningful sense.

    What is actually going to happen is that they'll realize a single database does in fact make their system better but it won't be a 'blockchain' in any way relevant to satoshi's invention. There is no byzantine generals problem to solve, and no censored market need.

    Yes, storing data in linked lists makes it easier to detect attempts to edit the early parts of the ledger (because the rest of the chain changes). But it is NOT immutable or a reliable timestamp without proof of work, and it does NOT tell you whether the data someone stuffed into it is true or enforceable or relevant at all. Just ask the guy who "proved" he created the Mona Lisa by putting it into the blockchain. https://bitcoinist.com/leonardo-da-vinci-mona-lisa-blockchain-verisart/

  • AL

    Andrew L.

    3 8 2018 06:52

    2       0

    You could easily have any of these use cases implemented without blockchain, you simply need a central authority to trust. Guess what the entire market functions on this exact principal. It's called the Depository Trust Clearing Corporation. When they wanted to do more electronic trading they had to come up with a solution to holding and transporting physical stock ownership. Think you own that stock you just bought? LOL its all in the hands of the DTCC and assigned to brokerages who maintain their own databases of IOUs. There is great rundown of how they had to manually clean and re-record over a trillion worth of physical shares flooded in Superstorm Sandy. Sounds horrible right? Hopefully we will replace all this with blockchain transactions.

  • AB

    Adrian B.

    3 8 2018 05:50

    0       0

    Doesn't really deal with the alternatives to Blockchain, such as Hashgraph and IOTA type solutions. Consensus on the infrastructure going forward needs to be established IMO. Is it like the BETA vs VHS type situation? Or which railway track gauge to use? Backing the winner could be profitable but its not clear who that will be at this stage.

  • JH

    Joseph H.

    3 8 2018 04:13

    6       0

    Outstanding production. Really thoughtful and nuanced. Smart, incisive questions. Truly helped make an esoteric concept comprehensible. I also liked the examination of the practical applications in energy and accounting.

    The discussion of private vs public blockchains was fascinating. It seemed to suggest the counter-intuitive notion that public blockchains are safer, because they are inherently "anti-fragile". The more nodes, the more stable the consensus-based integrity of the system is.

    Really impressive work. Would love to see more in this vein.

  • AC

    Adrienne C.

    2 8 2018 18:09

    3       1

    This really helped me get an understanding of what blockchain is all about and what it can do. The interviewer really asked some excellent questions.

  • AC

    Adrienne C.

    2 8 2018 18:08

    1       0

    This really helped me get an understanding of what blockchain is all about and what it can do. The interviewer really asked some excellent questions.

  • MN

    Michael N.

    2 8 2018 17:05

    4       1

    I'm really surprised to see so many thumbs up here I would have called this an intro to blockchain video nothing really new here for me but I'm glad to see that some folks are getting something out of it.

  • JG

    Jory G.

    2 8 2018 16:54

    0       0

    It is my understanding that no one knows for sure who created the block chain technology. Is it not possible that the individual may know a way to crash or rob the whole system?

  • bs

    bob s.

    2 8 2018 15:55

    0       0

    LETS GET MOREHEAD BACK ON PLEASE.

    MAYBE TIME FOR A TECHNICAL AND HISTORICAL CORRECTION TURN AROUND VIDEO?

    THANK YOU RV-ALWAYS A PLEASURE

  • bs

    bob s.

    2 8 2018 15:55

    0       0

    LETS GET MOREHEAD BACK ON PLEASE.

    MAYBE TIME FOR A TECHNICAL AND HISTORICAL CORRECTION TURN AROUND VIDEO?

    THANK YOU RV-ALWAYS A PLEASURE

  • bs

    bob s.

    2 8 2018 15:55

    0       0

    LETS GET MOREHEAD BACK ON PLEASE.

    MAYBE TIME FOR A TECHNICAL AND HISTORICAL CORRECTION TURN AROUND VIDEO?

    THANK YOU RV-ALWAYS A PLEASURE

  • LC

    Lloyd C.

    2 8 2018 09:15

    0       0

    Permissioned systems are just more robust databases. The really powerful technologies are in decentralised public blockchains that are able to scale in a decentralised way. You may want to cover plasma scaling. And graphene blocks on Bitcoin cash.

  • DB

    Daniel B.

    2 8 2018 06:33

    5       0

    Not a bad introductory video. But very "blockchain 1.0" focussed. Very little focus on smart contracts, which is where the most potential and real world application lies.

  • KJ

    Kulbir J.

    2 8 2018 06:14

    8       0

    Great for those who need an intro to blockchain.

    But I'm personally looking for something far more deeper than this. Would be great if these guys came back and did a far more advanced deep dive into blockchain and how its being used in areas such as Trade Finance.

  • IS

    Ian S.

    2 8 2018 05:33

    3       0

    Very well put together. If I had a suggestion however, it would be to go a little deeper into the 51% attack. The video made it seem way to simple and scary, than is realistic. A reference to Bitcoin and how it’s never successfully been done, yet attempted very thoroughly over the last 9 years, would have been a good way to give context. Even better, follow up with an example of a network that has successfully been 51% attacked i.e. VERG. Describing how blockchains work in general is a great start, but the next step is to discuss the major trade offs, and how they can affect the sustainability and/or features a blockchain has.

  • TA

    Truitt A.

    2 8 2018 03:36

    3       0

    Great coverage / overview of the blockchain technology. Nice work!

  • WM

    William M.

    2 8 2018 02:24

    6       0

    Best coverage and explanation of blockchain technology yet. Nice job!

  • BS

    Bill S.

    2 8 2018 02:09

    4       0

    Earlier post..Get a one vis one Ravikant
    equivalent episode. Excellent idea. This
    entire space about "disruption" and it's
    possibilities are enormous. The interviewer on this episode fantastic
    and whomever layed out the script in
    it as well. Kudos.

  • BS

    Bill S.

    2 8 2018 02:04

    8       0

    Wow, well well done.. Great production
    making a tech subject clear for your
    average layman. More, more. Divert
    resources from Knock On please 😎

  • SD

    Samy D.

    2 8 2018 00:50

    3       0

    Great production! Quality interviews and good insight into the upcoming applications of the block-chain vs. the oversold hype.

  • SC

    Sean C.

    1 8 2018 20:46

    0       1

    I think Raoul said here on Real Vision that he expects that Blockchain will become a commoditized service and that the price will trend to zero just like cloud computing (his example not mine).

  • MN

    Maverick N.

    1 8 2018 20:32

    6       0

    Hey RV, Please get Naval Ravikant & Raoul to sit down and chat about all things crypto....!!

  • cw

    cc w.

    1 8 2018 17:37

    4       0

    Would be interesting to see if RV can get Patrick Byrne on to talk about this topic.

  • RB

    R B.

    1 8 2018 14:53

    7       0

    nice to see more crypto content!

  • GS

    George S.

    1 8 2018 14:08

    11       0

    Great execution!

  • .

         
    • MF

      Michael F.

      1 8 2018 17:33

      1       0

      I was able to download the audio, you might wish to try again.