This is a speech of Blockchain CEO from July 2015. Obvious from the speech that theirs and some other companies will be the ones hosting the meta-data of all transactions (and transactions related to possible versions of applications, like energy grid, smart contracts, ID verifications) since it is very expensive to do so. However what makes distributed data storage meaningful is all long gone if anyone can not have free access to that data, whenever they want to! As smart as it is, blockchain's openness seems like a marketing trick. Since it is too expansive to store and host such massive amount of data it will due to some cost to access the truth.
Now that IBM and others have started to promote this as a good start for Internet of Things, and having a very suspicious emerging history one wonders who and what is behind this technology; and can blockchain be a part and parcel of an ongoing class war. What is Facebook's and Google's take on blockchain and bitcoin will be is another question; since it appears that the position blockchain is gaining is a more strategic (backbone of fully commercial internet) one in comparison to the data gathered by these guys, blockchain can in near future would have the network power to subordinate these giants to itself. What is funny about bitcoin promotion argument though is it is based on Austrian economists' ideology; complaining about the role of state in control of money and corruptness that brought: as if it was not the Wall Street one emerged from very same ideologies that defended private or liberalized financial and monetary policies and 'autonomous polity' from the state?! http://youtu.be/3ehQY6M4X5M # distributed via <nettime>: no commercial use without permission # <nettime> is a moderated mailing list for net criticism, # collaborative text filtering and cultural politics of the nets # more info: http://mx.kein.org/mailman/listinfo/nettime-l # archive: http://www.nettime.org contact: [email protected] # @nettime_bot tweets mail w/ sender unless #ANON is in Subject:
