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Tag: Blockchain

Nasim Aghdam and the YouTube convergence

Saturday, 7 April, 2018 0 Comments

Recap: In Iran, she was known as “Green Nasim”, commanding a certain degree of social media clout. On Tuesday, in California, Nasim Aghdam proceeded to the headquarters of YouTube in San Bruno and went on a shooting spree. Three were wounded, with the sole death being Aghdam, who took her life after the bloody splurge.

Mark Steyn peels back the layers in a piece titled The Grand Convergence. Snippet:

“What happened is a remarkable convergence of the spirits of the age: mass shootings, immigration, the Big Tech thought-police, the long reach of the Iranian Revolution, the refugee racket, animal rights, vegan music videos… It was the latest mismatched meeting between east and west in the age of the Great Migrations: Nasim Aghdam died two days before her 39th birthday, still living (according to news reports) with either her parents or her grandmother. She came to America at the age of seventeen, and spent two decades in what appears to be a sad and confused search to find something to give her life meaning. But in a cruder sense the horror in San Bruno was also a sudden meeting of two worlds hitherto assumed to be hermetically sealed from each other: the cool, dispassionate, dehumanized, algorithmic hum of High Tech — and the raw, primal, murderous rage breaking through from those on the receiving end.”

For all those who have fallen out of love with the Silicon Valley dataopolies, Blockchain is the most promising technology as it has the potential to disrupt the centralized social media companies.


How Blockchain Will Change Your Life

Thursday, 10 November, 2016 0 Comments

“Blockchain offers a way to track items or transactions using a shared digital ‘ledger.’ Blocks of new transactions are added at the end of the chain, and encryption ensures that it remains unbroken—tamper-proof and error-free. This is significantly more efficient than the current methods for logging and sharing such information.”

So writes Ginni Rometty, chairman, president and CEO of IBM, in today’s Wall Street Journal. She says IBM estimate that applying blockchain to global supply chains could generate more than $100 billion in annual efficiencies. “More than 80 leading finance and technology organizations, including IBM, have joined the Linux Foundation Hyperledger, a project aimed at creating an enterprise-grade blockchain framework. More than 600 additional firms have already applied to join the consortium,” she adds.

blockchain

Meanwhile, the World Economic Forum has created a new working group on blockchain co-chaired by the former president of Estonia, Toomas Hendrik Ilves. The goal is to explore how the blockhain “could impact industry, governments and society in the future, and design innovative governance models that ensure that their benefits are maximized and the associated risks kept under control.”

Blockchain resources:

Networking: The Blockchain Linkedin Tech Group
News: Blockchain Tech Report
Bitcoin: Coindesk


FinTech WOTD: Tokenization

Tuesday, 19 July, 2016 0 Comments

FinTech? It’s a portmanteau word created from “Financial Technology.” It’s hot because it threatens to grab some power from the bloated banks and give the the entire byzantine money business a much-needed shakeup. Heard of Bitcoin? It’s the most popular FinTech cryptocurrency. Cryptocurrency? It’s a form of digital currency that uses cryptography for regulation and security. No one is really sure who “mined” it, but the open-source software underpinning it has a shady history. Heard about the Blockchain? It’s where cryptocurrency transactions get recorded. It operates like a public ledger and once data has been entered, it cannot be altered.

All this brings us to our FinTech WOTD (Word of the Day): Tokenization.

Tokenization replaces sensitive data with unique symbols. These “tokens” enable users to retain essential information about their credit cards and transactions without compromising security. Tokenization also turns complex information into short, useful codes.

If you’re still not convinced about the power of FinTech to do good, don’t forget that its advocates say it may help the underbanked to become, well, more banked. Win win.

Language note: There’s tokenization and then there’s tokenism. The latter is the policy and practice of making a superficial gesture towards members of minority groups. Adding a token employee to a workforce usually is intended to create the appearance of diversity — racial, religious, sexual — and so avert accusations of discrimination. Following the Bastille Day terror attack in Nice, Channel 4 was accused of tokenism by putting the hijab-wearing Muslim Fatima Manji in the anchor’s chair.