Episode 115: How Blockchain Really Works And Why The Internet Just Crashed

Episode 115

Brian, Mike and Faisal are back on the air. This week we discuss the economic impact of the DDoS attack that happened and how commerce was affected. Also, Faisal explains the blockchain in layman’s terms and what it means for all of us. How will it impact you and I and society on the whole. Why it is being called the “next internet”?
  • What is blockchain and how does it work?
  • Discussed it as an open public decentralized ledger with 3 components:
    • software engineering
    • cryptographic science
    • game theory

We have ability to put out content, now we have ability to move value.

How Blockchain solves double spend problem.

Blockchain work is like dice in a bucket to solve a problem… The more dice you need, the more work it takes.

First application: cross border payments and unknown places.

First trial was UAE to India this year.

Our Speakers in this week’s episode:

Also available on iTunes.

Otter Labs -> Otter helps startups hire talented inexpensive developers faster through staff augmentation, focusing on Argentina.

Redeeem -> Redeeem is a decentralized peer-to-peer exchange that lets you save 15% or more on gift cards using Bitcoin and other cryptocurrencies.

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