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From Jiri Jetmar <juergen.jet...@gmail.com>
Subject Re: Update from Niclas
Date Mon, 15 Feb 2016 18:21:13 GMT
Hi Roman,

yes, I;m talking about ethereum.org.

Well, I have to agree that blockchain does not yet arrive and yes, there
are still issues open. Means it is still a kind of experiment - but - and
this is my impression it aims to solve some very specific problems that are
required to be solved for the next internet iteration aka "4.0". Some of
this problems is complexity, trust and sustainability.

I can see where complexity leads to everyday in my job in the financial
industry, especially in their IT departments.
Every member in the financial sector is mirroring and replicating a
snapshot of the "truth" in their systems. This leads to a enormous
complexity that has to be managed. This is the reason for all the
IT-governance initiatives, where millions of USD are burned. I spend long
enough in large swiss banks, doing nothing else then to manage IT
"complexity" on different levels.

The question is why does one build systems that requires large budgets and
increases the overall complexity ? Definitely not for fun ! The answer is
very human - we do not trust each other. We never did. Therefore Party A is
building a system to manage the truth_A and Party B is building a system
for the truth_B for the same business case. There are always deltas between
this two views and well paid analyst are building reconciliation algorithms
all the time to solve them. The double-entry-booking principle is exactly
this, means you are maintaining your own ledger, to keep things under
control because you do not trust other parties. The blockchain is
maintaining a distributed ledger and the mutation of the ledge can only
happen in a pre-agreed way using a smart contract.

What we see now is the fact that this system/principle does not scale
further. As a sample take the DELL/EMC takeover. No one knows exactly how
many of shares are owned by who due all of this historical e.g. corporate
events like splits, another takeovers and, and and... All this is due to
the fact that the states are maintained by different systems by different
parties. Surely there are special parties that are offering services to
manage this cases - in this case e.g. a custodian bank, but it does not
eliminate the above described problem.

Another sample from the US supreme court pronouncement of judgements.
Somewhere I read that about 20% of the links in the pronouncements are not
valid anymore ! This lead so another problem. The today's web is not
 sustainable enough.

Back to our temperature problem. Imagine that Niclas temperature sensor is
a great thing and Niclas is going to sell few millions of them. Niclas can
build a kind of "IT-Silo" means a backoffice to store and analyse all the
data. What happens with this data after lets say 10 years ? The truth is
that nobody knows that really. With a blockchain the data will be simply
there as long as the blockchain is "running". And due to the distributed
nature of that blockchain one can not simply shut it down. Same usecase for
all that parking sensors, IoT, smart cities, open data, ...

Now, what exactly is the "blockchain" ? From my perspective there is not
THE blockchain, but a number of specialized public and private blockchains.
So I can imagine that the Banks/Stockexchanges are building a private
blockchain for all the clearing/settlement purposes and 3th parties like
the regulatory/supervising organisations can simply be a read-only members,
unlike today where they are getting a highly fragmented/filtered report. I
can imagine a national government blockchain for things like tax monitoring
and e.g. elections. Further there can be parties that acts as relays
between blockchains, e.g. government blockchain and the financial clearing
blockchain. And there can be a IoT blockchain(s) for all the devices. So a
world full of blockchains.

In the above cases, there is nothing that can not be done already today -
without the blockchain. But the key is the lower costs, complexity,
sustainability and most important trust. This is it, nothing else or more
is the blockchain.. :-)


2016-02-15 7:26 GMT+01:00 Roman Shaposhnik <roman@shaposhnik.org>:

> NOTE: tell me if this gets off-topic and I'll got to p2p with Jiri ;-)
> On Sun, Feb 14, 2016 at 7:55 AM, Jiri Jetmar <juergen.jetmar@gmail.com>
> wrote:
> > An idea on this topic. You mentioned you are building the backoffice for
> > the sensor as well. What about
> > to pipe the sensor data to a blockchain ?
> What would be a point of that? I'm curious. I think you're talking
> about Ethereum. I've been hacking around it (and related stuff)
> lately and frankly I'm not convinced it got legs. Would love to
> get your take on it especially in this very context.
> Thanks,
> Roman.

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