Dan Larimer At Future Of Money, Governance And Law
Dan Larimer spoke at the Future of Money, Governance, and Law Conference. It was a very informative talk.
His primary focus was upon the fact that blockchain is really just another database. Thus, it is really no different than anything else that is out there in terms of how it should be treated.
Where it differs though is in the fact that blockchain starts with security in mind. With the present system, we see security as an after thought in the architecture. People create a database, then create an application that is tied to it. The interaction between the two is password protected, which then causes a range of issues. Added in are different layers of security to prevent hacks. When they do take place, the reaction is to have rotating passwords, hoping that the passwords are changed before the hackers access the information.
One of the biggest problems with this is the cost. Blockchain is going to save organizations a lot of money by providing security as a reduced rate. It is comes complete with an audit trail that is inherent with blockchain. In the world of verification, it is often difficult, if not impossible, to prove that someone verified something.
With blockchain, there is a record each time a key is used. This quickly becomes part of the ledger that cannot be changed.
He goes on to delve into a few other things he sees as part of the future. One of the questions was about Voice where he expressed his view on that.
His speech starts at the 1:15 mark.
Mind you that's the 1hr15min mark not the 1min15sec mark. haha