Richard Branson: Blockchain Is an ‘Economic Revolution

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Virgin Group founder and billionaire entrepreneur Sir Richard Branson is a huge supporter of blockchain technology. While talking to the press on October 3, Branson said the tech could bring an “economic revolution” to many nations worldwide. Sir Richard Branson Praises Blockchain Land Registry Bitcoin and blockchain technology is a keen interest for Sir Richard Branson. This week, Branson chatted with the media concerning blockchain technology’s many potentials. To make his point, Branson referred to the recent partnership between Bitfury and Hernando de Soto, who are trialing a land titling distributed ledger platform. Bitfury and the Peruvian economist aim to work with the Republic of Georgia’s National Agency of Public Registry. The project aims to deploy blockchain technology to create a better land titling system, with transparent and immutable attributes. In developing countries, land titles are often manipulated, forged, and taken from their rightful owners. At the Virgin Disruptors event this week in London, Branson told attendees: If you take somewhere like Egypt, 90 percent of people have got houses, they’ve got a garden, but they’ve got no piece of paper to show ownership of that — And without ownership of your property, it’s almost impossible to start a business or get a bank loan …

Why The Block-Chain Matters In So Many Ways!

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This article was taken from the June 2015 issue of WIRED magazine. Be the first to read WIRED’s articles in print before they’re posted online, and get your hands on loads of additional content by subscribing online. At least one global cryptocurrency will achieve mass-market adoption. That cryptocurrency will either be Bitcoin or a derivative inspired by it. The chance that it will be the former is so strong that in 2014 I invested in Bitcoin startups Xapo and Blockstream. And yet, perhaps surprisingly, when one of the very smart people I know in Silicon Valley recently told me he’s a major “Bitcoin sceptic” who has not yet seen “many real use cases” for the technology, I considered it a good sign. Why? Because in my experience, the most transformative ideas are not the ones that achieve broad consensus early on. Instead, they’re the ones that are so uniquely out there, so contrarian, that even informed observers have wildly differing opinions regarding their potential value. The internet itself was like this. It started as a strange new parallel universe called “cyberspace” and then became a part of everyday life. LinkedIn, eBay, Twitter and Airbnb were all bizarre concepts at first, …

Vitalik Buterin: On Public and Private Blockchains

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Over the last year, the concept of ‘private blockchains’ has become very popular in the broader blockchain technology discussion. Essentially, instead of having a fully public and uncontrolled network and state machine secured by cryptoeconomics (eg proof-of-work, proof-of-stake), it is also possible to create a system where access permissions are more tightly controlled, with rights to modify or even read the blockchain state restricted to a few users, while still maintaining many kinds of partial guarantees of authenticity and decentralization that blockchains provide. Such systems have been a primary focus of interest from financial institutions and have, in part, led to a backlash from those who see such developments as either compromising the whole point of decentralization or being a desperate act of dinosaurish middlemen trying to stay relevant (or simply committing the crime of using a blockchain other than bitcoin). However, for those who are in this fight simply because they want to figure out how to best serve humanity, or even pursue the more modest goal of serving their customers, what are the practical differences between the two styles? First, what exactly are the options at hand? To summarize, there are generally three categories of blockchain-like database applications: …