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In association with wiki china , educationblockchainvaluingyouth

imagine in 1989 someone had claimed from now on the worldwide web is the most valuable curriculum we could help teachers and students of any age become curious about - most people would probably have said what you are crazy; a few might have said how?

in 2016 blockchians became the most crtical curriculum to human sustainability - places that linkin to them will develop their people and borderless win-win "world social trades" of the 21st C open learning economy - everywhere else will become disconnected from future of livelihoods- that is a hypothesis- please don't spend your time reading any more of this unless this hypotheis makes you at least curious 

 is there a skeleton proposal on blockchains education we could get on desk of us new secretary of education, jim kim, vatican university's relevant leadership, gordon brown, unctad and 30 countries education commisioners at same time?

I am trying to scope a simplest start to a gamechanging blockchain on jobs rich education

 

Could it be suggesting that a benchmarking club of places responsible for universities run by a place

eg maryland's state universities, scotland's universities, the universities in whatever is the region around jack ma. ... all start scoping the following

 

imagine part of getting any grant to any state run university is student needs to answer one binary question asked one year after the originally anticipated graduation date

 

are you satisfied with university regarding impact on your livelihood?

 

I am assuming that each regional blockchain could integrate all grantees, all university information relevant to that student- so big data analysis could start analysing comparable impact scores by discipline or by university or by type of grant or demographic as relevant to people who design grants; for sure different places would need to clarify what is the key identity point (eg for domestic us students i assume its social security number?) and to sign up for being one of the world's first places to do this they would have to use their authority to demand all relevant data flows into their places blockchain

 

what I am trying to get at is:

how can education commission advance its goals without such data and emerging blockchain

 

in this regard: can we unite new usa secretary of education policy with 30 national leaders education commission goal of greatest learning generation

 

could the concept be presented at the top 5 education summits over the next year so at least a discussion of blockchain in education becomes unstoppable

 

which partners in open source education content -eg intel's world possible curation of open source content could join the call for what will a blockchain in education need to build up around  

 

can we scope something that interests jack ma so he offers for nearly free the coding for the first wave of places that genuinely commit to this, and more widely satisfies innovation in education as the number 1 challenge china recognises given it has half a billion youth to sustain - and almost all parents are dependent on building such livelihoods - in other words china recognises education not finance per se is what is 21st c economy stands or falls on - and is asking any long term national partners to change how they do 21st C economics of system designs

 

can this become an example of a blockchain that parents/communities as a public everywhere start to understand

 

concepts for blockchains of the future won't need to be 100% correct now to make the conversation unstoppable wherever parents have students

 

any comments anyone

 

chris 

 


Is blockchain technology the new internet?

The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym,  Satoshi Nakamoto. But since then, it has evolved into something greater and the main question every single person is asking is: What is Blockchain?

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, the tech community is now finding other potential uses for the technology.

Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this what is Blockchain guide.


 

What is Blockchain Technology?

What is Blockchain Technology? A step-by-step guide than anyone can understand

“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)

 

 

 

A distributed database

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

To go in deeper with the Google spreadsheet analogy I would like you to read this piece from a blockchain specialist.

Blockchain as Google Docs

 


What is Blockchain Technology? A step-by-step guide than anyone can understand

“The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once.That’s how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again).With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.

 

Imagine the number of legal documents that should be used that way. Instead of passing them to each other, losing track of versions, and not being in sync with the other version, why can’t *all* business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow.You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one.”

William Mougayar, Venture advisor, 4x entrepreneur, marketer, strategist and
blockchain specialist

 

 

 

 

 

 

Blockchain Durability and robustness

Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot:

  1. Be controlled by any single entity.
  2. Has no single point of failure.

Bitcoin was invented in 2008. Since that time, the Bitcoin blockchain has operated without significant disruption. (To date, any of problems associated with Bitcoin have been due to hacking or mismanagement. In other words, these problems come from bad intention and human error, not flaws in the underlying concepts.)

The internet itself has proven to be durable for almost 30 years. It’s a track record that bodes well for blockchain technology as it continues to be developed.


Ian Khan, TEDx Speaker“As revolutionary as it sounds, Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. No more missed transactions, human or machine errors, or even an exchange that was not done with the consent of the parties involved. Above anything else, the most critical area where Blockchain helps is to guarantee the validity of a transaction by recording it not only on a main register but a connected distributed system of registers, all of which are connected through a secure validation mechanism.” 

– Ian KhanTEDx Speaker | Author | Technology Futurist

 

Transparent and incorruptible

The blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes.  A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. Two important properties result from this:

  1. Transparency
    data is embedded within the network as a whole, by definition it is public.
  2. It cannot be corrupted
    altering any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network.

 

In theory, this could be possible. In practice, it’s unlikely to happen. Taking control of the system to capture Bitcoins, for instance, would also have the effect of destroying their value.


What is Blockchain Technology? A step-by-step guide than anyone can understand

“Blockchain solves the problem of manipulation. When I speak about it in the West, people say they trust Google, Facebook, or their banks. But the rest of the world doesn’t trust organizations and corporations that much — I mean Africa, India, the Eastern Europe, or Russia. It’s not about the places where people are really rich. Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.”
Vitalik Buterin, inventor of Ethereum

 

 

A network of nodes

A network of so-called computing “nodes” make up the blockchain.

 

What is Blockchain Technology? A step-by-step guide than anyone can understand

Node

(computer connected to the blockchain network using a client that performs the task of validating and relaying transactions) gets a copy of the blockchain, which gets downloaded automatically upon joining the blockchain network.

 

 

 

 

Together they create a powerful second-level network, a wholly different vision for how the internet can function.

Every node is an “administrator” of the blockchain, and joins the network voluntarily (in this sense, the network is decentralized). However, each one has an incentive for participating in the network: the chance of winning Bitcoins.

Nodes are said to be “mining” Bitcoin, but the term is something of a misnomer. In fact, each one is competing to win Bitcoins by solving computational puzzles. Bitcoin was the raison d’etre of the blockchain as it was originally conceived. It’s now recognized to be only the first of many potential applications of the technology.

There are an estimated 700 Bitcoin-like cryptocurrencies (exchangeable value tokens) already available. As well, a range of other potential adaptations of the original blockchain concept are currently active, or in development.

 


What is Blockchain Technology? A step-by-step guide than anyone can understand

 

“Bitcoin has the same character a fax machine had. A single fax machine is a doorstop. The world where everyone has a fax machine is an immensely valuable thing.”
Larry Summers, Former US Secretary of the Treasury

 

 

 

 

The idea of decentralization

By design, the blockchain is a decentralized technology.

Anything that happens on it is a function of the network as a whole. Some important implications stem from this. By creating a new way to verify transactions aspects of traditional commerce could become unnecessary. Stock market trades become almost simultaneous on the blockchain, for instance — or it could make types of record keeping, like a land registry, fully public. And decentralization is already a reality.

A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority. Decentralization means the network operates on a user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes possible are just beginning to be investigated.


What is Blockchain Technology? A step-by-step guide than anyone can understand

“I think decentralized networks will be the next huge wave in technology.”
Melanie Swan, author Blockchain: Blueprint for a New Economy (2015)

 

 

Who will use the blockchain?

As web infrastructure, you don’t need to know about the blockchain for it to be useful in your life.

Currently, finance offers the strongest use cases for the technology. International remittances, for instance. The World Bank estimates that over $430 billion US in money transfers were sent in 2015.

The blockchain potentially cuts out the middleman for these types of transactions.  Personal computing became accessible to the general public with the invention of the Graphical User Interface (GUI), which took the form of a “desktop”. Similarly, the most common GUI devised for the blockchain are the so-called “wallet” applications, which people use to buy things with Bitcoin, and store it along with other cryptocurrencies.

Transactions online are closely connected to the processes of identity verification. It is easy to imagine that wallet apps will transform in the coming years to include other types of identity management.


What is Blockchain Technology? A step-by-step guide than anyone can understand

“Online identity and reputation will be decentralized. We will own the data that belongs to us.”
William Mougayar, author The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology (2016)

 

The Blockchain & Enhanced security

By storing data across its network, the blockchain eliminates the risks that come with data being held centrally.

Its network lacks centralized points of vulnerability that computer hackers can exploit. Today’s internet has security problems that are familiar to everyone. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology.

The basis for this are the so-called public and private “keys”. A “public key” (a long, randomly-generated string of numbers) is a users’ address on the blockchain. Bitcoins sent across the network gets recorded as belonging to that address. The “private key” is like a password that gives its owner access to their Bitcoin or other digital assets. Store your data on the blockchain and it is incorruptible. This is true, although protecting your digital assets will also require safeguarding of your private key by printing it out, creating what’s referred to as a paper wallet.

 

 

A second-level network

With blockchain technology, the web gains a new layer of functionality.

Already, users can transact directly with one another — Bitcoin transactions in 2016 averaged over $200,000 US per day. With the added security brought by the blockchain new internet business are on track to unbundle the traditional institutions of finance.

Goldman Sachs believes that blockchain technology holds great potential especially to optimize clearing and settlements, and could represent global savings of up to $6bn per year.


 

 George Howard, Associate Professor Brown Universit“2017 will be a pivotal year for blockchain tech. Many of the startups in the space will either begin generating revenue – via providing products the market demands/values – or vaporize due to running out of cash. In other words, 2017 should be the year where there is more implementation of products utilizing blockchain tech, and less talk about blockchain tech being the magical pixie dust that can just be sprinkled atop everything. Of course, from a customers viewpoint, this will not be obvious as blockchain tech should dominantly be invisible – even as its features and functionality improve peoples’/business’ lives. I personally am familiar with a number of large-scale blockchain tech use cases that are launching soon/2017. This implementation stage, which 2017 should represent, is a crucial step in the larger adoption of blockchain tech, as it will allow skeptics to see the functionality, rather than just hear of its promise.”

–  George Howard, Associate Professor Brown University, Berklee College of Music and Founder of George Howard Strategic

 

 

The Blockchain a New Web 3.0?

The blockchain gives internet users the ability to create value and authenticate digital information. What new business applications will result?

  • Smart contracts

    Distributed ledgers enable the coding of simple contracts that will execute when specified conditions are met. Ethereum is an open source blockchain project that was built specifically to realize this possibility. Still in its early stages, Ethereum has the potential to leverage the usefulness of blockchains on a truly world-changing scale.

    At the technology’s current level of development, smart contracts can be programmed to perform simple functions. For instance, a derivative could be paid out when a financial instrument meets certain benchmark, with the use of blockchain technology and Bitcoin enabling the payout to be automated.

  • The sharing economy

    With companies like Uber and AirBnB flourishing, the sharing economy is already a proven success. Currently, however, users who want to hail a ride-sharing service have to rely on an intermediary like Uber. By enabling peer-to-peer payments, the blockchain opens the door to direct interaction between parties — a truly decentralized sharing economy results.

    An early example, OpenBazaar uses the blockchain to create a peer-to-peer eBay. Download the app onto your computing device and you can transact with OpenBazzar vendors without paying transaction fees. The “no rules” ethos of the protocol means that personal reputation will be even more important to business interactions than it currently is on eBay.

  • Crowdfunding

    Crowdfunding initiatives like Kickstarter and Gofundme are doing the advance work for the emerging peer-to-peer economy. The popularity of these sites suggests people want to have a direct say in product development. Blockchains take this interest to the next level, potentially creating crowd-sourced venture capital funds.

    In 2016, one such experiment, the Ethereum-based DAO (Decentralized Autonomous Organization), raised an astonishing $200 million USD in just over two months. Participants purchased “DAO tokens” allowing them to vote on smart contract venture capital investments (voting power was proportionate to the number of DAO they were holding). A subsequent hack of project funds proved that the project was launched without proper due diligence, with disastrous consequences.  Regardless, the DAO experiment suggests the blockchain has the potential to usher in “a new paradigm of economic cooperation.”

  • Governance

    By making the results fully transparent and publicly accessible, distributed database technology could bring full transparency to elections or any other kind of poll taking. Ethereum-based smart contracts help to automate the process.

    The app, Boardroom, enables organizational decision-making to happen on the blockchain. In practice this means company governance becomes fully transparent and verifiable when managing digital assets, equity or information.

  • Supply chain auditing

    Consumers increasingly want to know that the ethical claims companies make about their products are real. Distributed ledgers provide an easy way to certify that the backstories of the things we buy are genuine. Transparency comes with blockchain-based timestamping of a date and location — on ethical diamonds, for instance — that corresponds to a product number.

    The UK-based Provenance offers supply chain auditing for a range of consumer goods. Making use of the Ethereum blockchain, a Provenance pilot project ensures that fish sold in Sushi restaurants in Japan has been sustainably harvested by its suppliers in Indonesia.

  • File storage

    Decentralizing file storage on the internet brings clear benefits. Distributing data throughout the network protects files from getting hacked or lost.

    Inter Planetary File System (IPFS) makes it easy to conceptualize how a distributed web might operate. Similar to the way a bittorrent moves data around the internet, IPFS gets rid of the need for centralized client-server relationships (i.e., the current web). An internet made up of completely decentralized websites has the potential to speed up file transfer and streaming times. Such an improvement is not only convenient. It’s a necessary upgrade to the web’s currently overloaded content-delivery systems.

  • Prediction markets

    The crowdsourcing of predictions on event probability is proven to have a high degree of accuracy. Averaging opinions cancels out the unexamined biases that distort judgment. Prediction markets that pay out according to event outcomes are already active. Blockchains are a “wisdom of the crowd” technology that will no doubt find other applications in the years to come.

    Still in Beta, the prediction market application Augur makes share offerings on the outcome of real world events. Participants can earn money by buying into the correct prediction. The more shares purchased in the correct outcome, the higher the payout will be. With a small commitment of funds (less than a dollar), anyone can ask a question, create a market based on a predicted outcome, and collect half of all transaction fees the market generates.

  • Protection of intellectual property

    As is well known, digital information can be infinitely reproduced — and distributed widely thanks to the internet. This has given web users globally a goldmine of free content. However, copyright holders have not been so lucky, losing control over their intellectual property and suffering financially as a consequence. Smart contracts can protect copyright and automate the sale of creative works online, eliminating the risk of file copying and redistribution.

    Mycelia uses the blockchain to create a peer-to-peer music distribution system. Founded by the UK singer-songwriter Imogen Heap, Mycelia enables musicians to sell songs directly to audiences, as well as licence samples to producers and divvy up royalties to songwriters and musicians — all of these functions being automated by smart contracts. The capacity of blockchains to issue payments in fractional cryptocurrency amounts (micropayments) suggests this use case for the blockchain has a strong chance of success.

  • Internet of Things (IoT)

    What is the IoT? The network-controlled management of certain types of electronic devices — for instance, the monitoring of air temperature in a storage facility. Smart contracts make the automation of remote systems management possible. A combination of software, sensors, and the network facilitates an exchange of data between objects and mechanisms. The result increases system efficiency and improves cost monitoring.

    The biggest players in manufacturing, tech and telecommunications are all vying for IoT dominance. Think Samsung, IBM and AT&T. A natural extension of existing infrastructure controlled by incumbents, IoT applications will run the gamut from predictive maintenance of mechanical parts to data analytics, and mass-scale automated systems management.

  • Neighbourhood Microgrids

    Blockchain technology enables the buying and selling of the renewable energy generated by neighbourhood microgrids. When solar panels make excess energy, Ethereum-based smart contracts automatically redistribute it. Similar types of smart contract automation will have many other applications as the IoT becomes a reality.

    Located in Brooklyn, Consensys is one of the foremost companies globally that is developing a range of applications for Ethereum. One project they are partnering on is Transactive Grid, working with the distributed energy outfit, LO3. A prototype project currently up and running uses Ethereum smart contracts to automate the monitoring and redistribution of microgrid energy. This so-called “intelligent grid” is an early example of IoT functionality.

  • Identity management

    There is a definite need for better identity management on the web. The ability to verify your identity is the lynchpin of financial transactions that happen online. However, remedies for the security risks that come with web commerce are imperfect at best. Distributed ledgers offer enhanced methods for proving who you are, along with the possibility to digitize personal documents. Having a secure identity will also be important for online interactions — for instance, in the sharing economy. A good reputation, after all, is the most important condition for conducting transactions online.

    Developing digital identity standards is proving to be a highly complex process. Technical challenges aside, a universal online identity solution requires cooperation between private entities and government. Add to that the need to navigate legal systems in different countries and the problem becomes exponentially difficult. E Commerce on the internet currently relies on the SSL certificate (the little green lock) for secure transactions on the web. Netki is a startup that aspires to create a SSL standard for the blockchain. Having recently announced a $3.5 million seed round, Netki expects a product launch in early 2017.

  • AML and KYC

    Anti-money laundering (AML) and know your customer (KYC) practices have a strong potential for being adapted to the blockchain. Currently, financial institutions must perform a labour intensive multi-step process for each new customer. KYC costs could be reduced through cross-institution client verification, and at the same time increase monitoring and analysis effectiveness.

    startup Polycoin has an AML/KYC solution that involves analysing transactions. Those transactions identified as being suspicious are forwarded on to compliance officers. Another startup Tradle is developing an application called Trust in Motion (TiM). Characterized as an “Instagram for KYC”, TiM allows customers to take a snapshot of key documents (passport, utility bill, etc.). Once verified by the bank, this data is cryptographically stored on the blockchain.

  • Data management

    Today, in exchange for their personal data people can use social media platforms like Facebook for free. In future, users will have the ability to manage and sell the data their online activity generates. Because it can be easily distributed in small fractional amounts, Bitcoin — or something like it — will most likely be the currency that gets used for this type of transaction.

    The MIT project Enigma understands that user privacy is the key precondition for creating of a personal data marketplace. Enigma uses cryptographic techniques to allow individual data sets to be split between nodes, and at the same time run bulk computations over the data group as a whole. Fragmenting the data also makes Enigma scalable (unlike those blockchain solutions where data gets replicated on every node). A Beta launch is promised within the next six months.

  • Land title registration

    As Publicly-accessible ledgers, blockchains can make all kinds of record-keeping more efficient. Property titles are a case in point. They tend to be susceptible to fraud, as well as costly and labour intensive to administer.

    A number of countries are undertaking blockchain-based land registry projects. Honduras was the first government to announce such an initiative in 2015, although the current status of that project is unclear. This year, the Republic of Georgia cemented a deal with the Bitfury Group to develop a blockchain system for property titles. Reportedly, Hernando de Soto, the high profile economist and property rights advocate, will be advising on the project. Most recently, Sweden announced it was experimenting with a blockchain application for property titles.

  • Stock trading

    The potential for added efficiency in share settlement makes a strong use case for blockchains in stock trading. When executed peer-to-peer, trade confirmations become almost instantaneous (as opposed to taking three days for clearance). Potentially, this means intermediaries — such as the clearing house, auditors and custodians — get removed from the process.

    Numerous stock and commodities exchanges are prototyping blockchain applications for the services they offer, including the ASX (Australian Securities Exchange), the Deutsche Börse (Frankfurt’s stock exchange) and the JPX (Japan Exchange Group). Most high profile because the acknowledged first mover in the area, is the Nasdaq’s Linq, a platform for private market trading (typically between pre-IPO startups and investors). A partnership with the blockchain tech company Chain, Linq announced the completion of it its first share trade in 2015. More recently, Nasdaq announced the development of a trial blockchain project for proxy voting on the Estonian Stock Market.

 

 

 

 


Judd Bagley: What is Blockchain “2016 was the year in which blockchain theory achieved general acceptance, but remained in theory, with the big players lingering around the hoop waiting to see who would take the first shot. As the year comes to an end, blockchain technology is tantalizingly close to turning the corner and entering the realm of small-scale commercializability. Overall, 2017 is going to be the year of the very well-considered and well-funded proof of concept, with a few projects achieving revenue positive status. Venture investment is going to continue to be substantial but less than we saw in 2016 and 2015. I’d predict one or two exits by acquisition.” 

– Judd Bagley  Director of Communications at Overstock.com and Chief Evangelist at t0.com

 

 

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    Great breakdown and concise summation of what can easily be a very complicated and confusing topic for the average beginner and layperson (me!).

     

    Gonna read this a few more times to make sure it sticks.

    @Clayton Thank you. Appreciate your feedback.
    It irritates me to no end that you serve up #blockchain (Bitcoin based) as well as #distributedledger #DLT in the same breath! Please consider splitting the two completely as you confuse the readers for no reason!
    I think that link for Mycelia above was incorrect. myceliaformusic.org/
    Thanks for letting us know.
    yeah, the link is to the mycellium wallet instead ��
    Nice catch
    Great article, as a beginner this article provides a basic understanding of how BlockChain works. The most attractive part of the document is the use cases it lists at the end.
    Appreciate your kind words @pjajoo
    Why you guys still confident to say there is no backdoor in this kind blockchain system? I Do not believe this shit..Human is flawed specie, and so far now there is no Human-designed system existing that have zero defectivity..?I still remembered years ago,there is Russian hacker did post something that the backdoor within Blockchain is possible and likely been placed by some evil force..Blockchain is very complex system for lay man..also I just cannot get it why the mass will adopt this system ..Where is the role of The Fed and Central banks??? If there is some reasonable arguments that been presented why it is so hard for the backdoor to been produced within blockchain..Should be welcome..
    Expect to see you guys make some comments on this ..
    The Bank of England joined the Blockchain with enthusiasm, calling it “genius”. That makes me concerned. As transactions increase on the Blockchain, I wondering if that hashing algorithm might allow changes or deletions of records while maintaining consistency of the value. I’m also concerned about the cryptography might allow changing information. I don’t know that for sure, though.

     

    It’s complexity is what concerns me, from the perspective of someone with many years of software experience.

    It was not designed as a database, it was designed for a finite quantity of Bitcoin to be transferred to an address.

    Each “record” or transaction only contains 40 characters or so. Storing files on the Blockchain requires many transactions. So, usually, those 40 characters store a reference # to external data.

    And my wife ask me why should we depend on something that created by nobody-know-who-the-hell-he-is ?
    It’s like a little prejudice if there is a havoc so nobody can be blamed.
    Why is your wife worrying about who will be blamed?
    The authority has become IT.

     

    I have many years of software experience and I think it is too complex. The Blockchain is useful for (hopefully) permanent data and for transferring value across borders.

    It was designed to represent money, not as a database. Insufficient time-stamp granularity and only 40 characters to store with each transaction.

    There are other ways of making certain a database is distributed and permanent.

    Great article for the beginner. I appreciate that a community like this exists for those who want to learn!
    Great article . Thanks guys
    Also, see this two-minute video explaining the blockchain: www.youtube.com/watch?v=r43LhSUUGTQ

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Alibaba founder Jack Ma unveils ambitious plan

Mission: 100 million new jobs

By Dana McCauley


He already runs the world's biggest online shopping company, but Alibaba founder Jack Ma is not satisfied.

The Chinese billionaire has unveiled an even more ambitious plan to expand the company's reach across the globe, creating 100 million new jobs and transforming the global economy to create a more equitable world.

It may sound pie-in-the-sky, but the goal forms part of mission statement of the US$261 billion company's visionary executive chairman.

In a letter to shareholders, Ma outlined Alibaba's achievements of the past financial year - including a gross merchandise turnover of more than $195 billion (1 trillion RMB), an "unprecedented" figure - before looking to the future.

"We have more than 430 million annual active buyers, which means one out of every three individuals in China has made a purchase on our retail marketplaces," Ma wrote.

But, he said, while proud of Alibaba's online shopping achievements, "we want to do far more", saying that the benefits of globalisation had not been spread evenly, but that "digital disruption will bring us closer to a level playing field for young people and small businesses".

"We are not merely trying to shift buy/sell transactions from offline to online, nor are we changing conventional digital marketing models to squeeze out a little additional profit," he wrote.

"We are working to create the fundamental digital and physical infrastructure for the future of commerce, which includes marketplaces, payments, logistics, cloud computing, big data and a host of other fields."

The Alibaba group of companies, founded in 1999, accounts for 60 per cent of all Chinese online sales, and this year overtook Walmart as the world's largest retailer.

 

It has made Ma the second richest man in Asia, with a net worth of US$28.5 billion.

THE NEW 'NATURAL RESOURCE'

It's through cloud computing that Alibaba aims to expand its reach, and the company has been investing in the technology as part of a strategy that sees shoppers' data as the contemporary equivalent of mineral riches.

"Over the next 30 years, with computing power as the new 'technology breakthrough' and data as the new 'natural resource,' the landscape of retail, financial services, manufacturing and entertainment will be transformed," Ma wrote, forecasting a decades-long period of transformation.

"The internet revolution is a historical inflection point, much like when electricity was introduced, and it may have an even greater impact," he predicted.

Alibaba's mission, he said, was to "empower merchants with the ability to transform and upgrade their businesses for the future" and "help companies all over the world to grow".

"We believe, the commerce infrastructure we have created in China - marketplaces, payments, logistics, cloud computing and big data, all working in concert - can be applied on a global scale to lift up small and medium businesses and ordinary consumers around the world."

Eight years after launching, Alibaba Cloud hosts 35 per cent of Chinese websites, while delivering cloud computing and big data services.

'100 MILLION NEW JOBS'

Ma said Alibaba was constantly adapting to the changing e-commerce environment, as staying at the forefront of innovation was key to its continued success.

"In the coming years, we anticipate the birth of a re-imagined retail industry driven by the integration of online, offline, logistics and data across a single value chain," he said.

"With e-commerce itself rapidly becoming a "traditional business," pure e-commerce players will soon face tremendous challenges."

A shift to mobile revenue was one such change, he said, with mobile climbing from a single-digit percentage to three-years of total revenue from Alibaba's Chinese retail marketplaces, in the space of two years.

"This is why we are adapting, and it's why we strive to play a major role in the advancement of this new economic environment," Ma said.

Innovations like Alibaba's Qianniu app, which helps online businesses to improve sales and marketing while enhancing efficiency, were an example of the type of projects the company aimed to focus on.

"In 20 years, we hope to serve two billion consumers around the world, empower 10 million profitable businesses and create 100 million jobs," Ma said, adding: "This will be an even more difficult journey than the one behind us."

news.com.au

 
 
LISTEN : Newstalk ZB Political Editor Barry Soper speaks to Andrew Dickens on KPMG Early Edition

Mr Ma - who's worth around $50 billion - met with John Key in Beijing late yesterday. He made his money through founding the online commerce platform Ali Baba.

Standing alongside the Prime Minister, he heaped praise on the country, which he says is loved by many Chinese.

"At least 20 of my colleagues retired from Ali Baba. They're all very young, in their 40s, they all go to New Zealand."

"I asked what they do apart from the golf and green things and they say it's the people there."

It wasn't all social, with the Chinese billionaire also talking business.

Jack Ma told the entrepreneurs luncheon Kiwi businesspeople find it difficult to access the Chinese market.

Mr Ma said he wants to make that easier with his multi-platform organisation.

"We have Ali Baba University. We would either have courses in New Zealand or invite the entrepreneurs in New Zealand to stay in China for two weeks for training."

"The second is that we're going to open an Ali Baba business embassy next year in New Zealand."

John Key is in China meeting business and political leaders.

 

 


Innovation "Made in China" - The Case of Alibaba and the role of Net-based Small Business

Innovation is a key driver for economic development and social progress and small business is one of the best ways for people to express their willingness and capability to innovate.  Pervasive business ownership has, therefore, been the foundation in many societies for the continued improvement of people’s economic wellbeing. In the People’ Republic of China, however, private business ownership was prohibited between 1957 and 1978. Productive innovations were extremely restricted and as a consequence, China’s economy was on the verge of collapse by the end of 1978. The Chinese people had suffered a historic setback.

Alibaba’s growth, driven by unleashing grassroots entrepreneurship, has become an exemplar of China’s innovation in the 21st century.  Started by 18 young people in 1999, Alibaba has grown into a giant global internet platform and has made many invaluable contributions to China’s progress. Highlighting the importance of pervasive small business ownership in unleashing grassroots innovation and improving economic wellbeing, Professor Lowrey will discuss Alibaba’s innovative strategies and explain the economic theory behind its inspiring success.

 

 

 

Dr. Ying Lowrey is Professor of Economics at Tsinghua University and Deputy Director of the Tsinghua Research Center for Chinese Entrepreneurs, and a member of the Academic Committee for Alibaba Group Research Institute. Her teaching and research interests include economics of innovation and entrepreneurship in the internet and platform economy, the modern microfinance market, business demographics, characteristics of business owners, and the role of free enterprise and competition in the macroeconomy. 

She received her economics Ph.D. from Duke University, economics MA from Yale University and mathematics BS from Wuhan University. Before joining Tsinghua University in 2012, she served as senior economist at the Office of Advocacy, U.S. Small Business Administration and has taught economics at George Washington University and San Diego State University.

 

Selected publications 

 

 100millionjobcrisis

100millionjobcrisis

Founder of Ali Baba commits his work for Chinese on internet to generate 100 million microentrepren…chris macraeNov 23, 200950 views

Founder of Ali Baba commits his work for Chinese on internet to generate 100 million microentrepreneur jobs in 2010s - who else would you vote at the centre of 100 million job creation leagues?
=====================update sumer 2016:
unlike oiher years spent with bangaldeshi inspired youth, i spent 2015-2016 mainly with a class of chinese female students - what brilliant minds and tirelss sources of human energy - i hope this summary of why the whole world can celebrate what jack ma is doing is near to the mark - but as always look forward to editing any errors which are mine alone
chris.macrae@yahoo.co.uk washington dc text 240 316 8157
======================
was english language tutoring

In 1995 he was sent to the usa on an exchange mission and encountered the worldwideweb - then unknown in China. He determined the www would be the biggest job creating innovation of his (or his generations) life and hopefully of every Chinese entrepreneur he could valuably link into.

Over the next 15 years his wizard coding teams went from something that was little more than an electronic yellow pages for small businesses to conceiving sustainability generation's 2 greatest retailing platforms china or the world may ever have seen..

the taobao platform is the most valuable job creating concept retailers have ever mediated because it reverses the western trend of globalisiation of retailers, bankers and big corporations squeezing out local and small enterprises from having a market; how taobao did that is an extraordinarily detailed story but note how Ma was concerned to ensure even the most cut-off of Chinese villagers could start up on tao bao (rural ecommerce is one of the innovations that Ma has led the www purpose to linkin)

His other mall was pitched at the more usual high cost fashions of big global merchandisers. Because of complex property laws in chinese cities, most expensive retailers are not much of a joy to shop in. So ali baba created a lifestyle -eg celebrate singles day 11/11 shopping virtually rather than the physically exhausting interaction in The West's biggest shopping days of the year)

SO 365/24/7 consumers of ali baba can choose who they value developing most with their purchasing power as well as searching merchandise with global image or local cultural joy

Alibaba has become china's and probably the word's largest retailing channel. It does this with next to no merchandise but brilliant coding so that every store front on its platforms delivers with equal reliability. Hunting out exactly how Ma forms partnerships so that big data analysis benefits the smallest enterprises and most local consumers ought to be a job of whomever is sustainability goals greatest economist.

Intriguingly to ensure he could compete with the chinese internet companies that raced to co-create the www that Ma had opened space for in china, Ma IPO'd Alibaba through a process 2010-2015 while developing his secret sustainability weapon under private ownership. AlIpay is china's number 1 financial inclusion delivery system and maybe global youth most humanly productive coding achievement to date.

Comparing china's top 10 internet properties with the west's is very interesting. Are the consuming behaviours on ali baba more sustainable than those on amazon or ebay or paypal? Are the learnng behaviours on baidu more sustaining of youth than on google or coursera or microsoft's linkedin. Time will tell but note how speaking english, chinese and coding (as well as mother tongue) are probably what educators anywhere on planet earth should NOW be most valuing their global youth's future freedom to thrive entrepreneurially around.

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