Blockchain has been an extremely hot topic of conversation over the lasat 12-18 months. I vividly remember a conversation with co-worker around 2012 about crypto currency and it’s potential during a global economy that was not too excited about the green-back.
Of course, the crypto currency at the head of the conversation was bitcoin.
I was introduced to Ethereum and a broader use of the blockchain concept at the MVP Mix event. In particular the smart contract functionality of the blockchain platform. In a nutshell, Smart Contracts allows a developer or user to create a set of rules for each transaction to occur. For example, if you are attempting to purchase a car, before your funds are released on a specified date, access to a key and vehicle is required. And vice-versa, before a key and vehicle is accessible on a specified date, funds must be accessible by the seller. In theory, the idea is to minimize fraud and help improve transparency of a transaction.
For futher reading check out some of these post:
A gentle introduction to smart contracts
Dalain is a Technical Program Manager, entrepreneur and speaker that specializes in Technology for Businesses, STEM, StartUps, and Economic Development. As well as running a business and writing, he spends time volunteering in the community, supporting Black Businesses, listening to underground hip hop, and helping those in need.