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Blockchain technology for the world

As of early 2019 we are just now learning how to code trust, transparency, and truth into a platform that is immutable or unchangeable and leads us deeper into trust with every block of data released on a connected chain.  SCT is focusing on how small business can benefit from this amazing disruptive technology.

Key Blockchain Thoughts The most disruptive tech in history

Trust is the sine quo non of the digital economy


Rather than trusting big companies and governments to verify people's identities and vouch for their reputation, we can trust the network.  For the first time in human history we have a platform that ensures trust in transactions and much recorded information no matter how the other party acts.  

Don Tapscott - Blockchain Revolution

Most of the content in this section comes from Don and Alex Tapscott father and son team.  Their video can be seen here

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People are just now looking over the horizon


The implications of blockchain technology for most social, political, and economic activity are staggering.  It's not just about who married whom, who voted for whom, who paid whom, it's about any endeavor that requires trusted records and assured transactions.  

Who owns what?  Who holds which rights to this intellectual property?  Who graduated from medical school?  Who bought these guns?  Who made these NIKE shoes?  Who made that Apple phone?  Where did this baby formula come from?  Where did these diamonds originate?  

Paul Brody - Ernst and Young 

Don Tapscott - Blockchain Revolution

The internet of things needs a ledger of things


Blockchain technology is like world-wide ledger that can record and protect anything of value and importance to humankind.   

Birth and death certificates, marriage licenses, deeds, titles of ownership, educational degrees, usernames, passwords, financial accounts, medical procedures, insurance claims, votes, food stamps and anything else that be expressed in code.  

Our internet of everything needs a ledger of everything and for the first time we have a ledger we can trust, not because of people, but because of math and algorithm's that program trust into the protocol.   Absolutely incredible!  

What we are trying to grasp


Today, thoughtful people everywhere are trying to understand the implications of a protocol that enables mere mortals to manufacture trust through clever code.  

This has never happened before-trusted transactions directly between two or more parties, authenticated by mass collaboration and powered by collective self interests, rather than by large corporations motivated by profit.

Achieving Trust in the Digital Age


Trust in business is the expectation that the other party will behave according to the four principles of integrity.

  1. Honesty:  not just an ethical issue, it has become an economic one.  To establish trusting relationships with employees, partners, customers, shareholders, and the public, organizations must be truthful, accurate, and complete in communications.  No lying through omission, no obfuscation through complexity.
  2. Consideration:  in business often means a fair exchange of benefits or detriments that parties will operate in good faith.  But trust requires a genuine respect for the interests, desires, or feelings of others, and that parties can operate with goodwill toward one another. 
  3. Accountability:  means making clear commitments to stakeholders and abiding by them.  Individuals and institutions alike must demonstrate that they have honored their commitments and owned their broken promises, preferably with the verification of the stakeholders themselves or independent outside experts.  No passing the buck, no playing the blame game.
  4. Transparency:  means operating out in the open, in the light of day.  "What are they hiding" is a sign of poor transparency that leads to distrust.  

Maybe more Yoda than God, but close enough


With blockchain technology a world of new possibilities has opened up to reverse all of the trends started by mankind.   

We now have a true peer-to-peer platform that enables the many exciting things to happen which have never been possible previous.

We can own our own identities.

We can own and monetize our data.

We can do transactions, creating and exchanging value without powerful intermediaries acting as arbiters of money and information.

Billions of excluded people can soon enter the global economy.

We can protect our privacy, monetize our own information.  We can ensure creators are compensated for their intellectual property. 

Rather than trying to solve the problems of growing social inequality through the redistribution of wealth only, we can start to change the way wealth is distributed-how it is created in the first place, as people everywhere from farmers to musicians can share more fully, a priori, in the wealth they create.

It might me more Yoda than God . But this new protocol, if not divine, does enable trusted collaboration to occur in a world that needs it, and that's huge!