Welcome to the 3rd edition of “Thursdays Trading Thought”.
Today we have a quick chat about technology and in particular Blockchain.
Yes, Blockchain has been around for a few years now but we’re really seeing more and more of it in the news lately, and there has been a lot of hype about the potential applications of this technology.
Some people have even said the Blockchain will have a greater impact on our lives than ANY other technology that exists today.
How big is that?
Much of the hype around Blockchain has been focused on the financial industry, or the potential for Blockchain to fundamentally change the financial services industry.
Which got me thinking..
… How could this impact us in the future, both as traders and as fine, upstanding members of society? 🙂
Anyway, my own personal knowledge of Blockchain was pretty limited – even though I’d heard of it a number of times I didn’t really have an idea of what it was.
But I do remember that Bert Mouler mentioned it episode 64 of the podcast where we were discussing cryptocurrencies.
So I asked Bert to come back on the show and give us a very quick introduction into Blockchain:
- What is it?
- Why are people so excited about it?
- The possible applications to the financial services industry, traders and society in general.
So let’s head over to Bert and hear what the fuss is all about!
Additional information
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Huffington Post – ‘The impact of Blockchain goes beyond Financial Services’
The Conversation – ‘Finally, interesting uses for the blockchain that go beyond bitcoin’
Forbes – ‘How The Blockchain Will Transform Everything From Banking To Government To Our Identities‘
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Episode Released:
19 January 2017
Hi!
Last December the famous “Chaos Computer Club” (or “CCC” in short) from Berlin invited to his yearly “Chaos Communication Congress” [33c3] where a guy from Switzerland presented a great talk about blockchain technology which really made me understand how it actually works for the first time. As the CCC members are “white hat hackers” who often give advice to the german government as well (which is needfully required) this is top notch stuff.
Anyway, in this talk (which is available at https://www.youtube.com/watch?v=jAy7zF2dBfo) he also demonstrated how this system might be attacked by “black hat hackers” through different techniques (i.e. “Double-Spent” attack, “network attack”, …) – so everyone hyping this technology should be aware of the flaws that go with it as well, because those who “hype” often do not even know that things like these attacks are possible and take every raving review about it for granted.
The talk was held in german (with a negligible Swiss accent) but the slides from the talk are in english language PLUS the subtitle function of YouTube might translate the speech for you (with some flaws here and there) – I recommend everyone interested in Blockchain technology to check it out!
Cheers from Germany
René
Hi Rene, thanks for sharing the link to the video, I’ll check it out.
You’re welcome Andrew! – 🙂 – This talk here (this one is from a dutch guy who gives advice to banks, with specializing in payment processes – it is in english) is not excatly about blockchain, but how the international payment system nowadays works, and it explains e.g. why international payments are so expensive. It is not the conversion between different currencies, btw. – 🙂 – At the end of the talk there’s a Q&A where blockchain technology is metioned as well – but maybe not as you might expect. – So, while you’re interested in the first video I’ve posted, you might want to check out this one as well. I had a good laugh here and there!
There you go: https://www.youtube.com/watch?v=Xqn81bVLB4g