Now playing Season 1, Episode 3 — Blockchain Rises
April 3, 2018
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Season 1 • 6 episodes
Bitcoin is the first and best-known application of the blockchain. A decade into its existence, bitcoin remains mysterious to the general public: from its nature, its source of value, the reasons behind price fluctuation, to diverging policies across countries. Episode 1 revisits the legacy of Satoshi Nakamoto, uncovering some life-changing bitcoin stories.
The design of bitcoin is based on a check and balance principle that guarantees the decentralization of power. However, the problem of scalability has divided the bitcoin community and provoked heated debate. Since Americans write the code and the Chinese are miners, the bitcoin debate went from technological to ideological.
Bitcoin is massively disruptive and influential, however, the real potential and opportunity is the underlying technology of blockchain. The revolutionary blockchain technology brings the internet of information to the second era of the Internet--The Internet of Value.
Since people's growing interest in blockchain applications has gone beyond cryptocurrency, 19-years-old Vitalik Buterin created Ethereum in 2013 for people in general to build a decentralized application. More and more people realized the importance of building infrastructure while exploring blockchain technology. The advent of Ethereum opened up a new path for public blockchains...
Initial Coin Offering (ICO) offers a platform that opens up capital inflows from the masses and impacts the traditional forms of capital raise. However, due to the lack of regulations, the failure rate on investment is high and ICOs have been described as "the craziest bubble ever".
The blockchain industry has only completed its first ten years in existence and the people and the industry have experienced ups and downs that other industries may only experience throughout a millennia. Besides finance and investment, how can we change the world by using blockchain technology? How can blockchain benefit ordinary people?
Some say blockchain is the second coming of the Internet, that it will change the way our world operates permanently. Others call it a scam. It enables the making of billionaires, but it has also put people in jail.
Bitcoin is massively disruptive and influential, however, the real potential and opportunity is the underlying technology of blockchain. The revolutionary blockchain technology brings the internet of information to the second era of the Internet--The Internet of Value.
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