In 2008, Bitcoin was introduced to the world, and still, it is not quiet clear to the lay audience of internet users. In 2010, I had a chance to get Bitcoins for my birthday from my geeky, open source expert friend. I refused them over the traditional paper notebook, as I knew about bitcoins but I didn’t know for sure how could I use them in the rest of Europe where it wasn’t present and developed enough to act. Eight years forward, now I know.
In 2012, I chatted with Mike Hearn, a former BitCoin core developer on the future of the cryptocurrencies and the bitcoin, and back then, he expressed his doubt that there are not many other open source projects with such large social implications such as cryptocurrencies. Especially, Hearn stressed that social scientists have a lot to contribute and collaborate together with computer scientists and IT developers.
The revolutionary power of such technology can be compared with the revolution sparked by the world wide web and the Internet in general. As the Internet can be seen as a mean for sharing information, so blockchain technologies can be seen as a way to introduce the next level: blockchain allows the possibility of sharing digital value. As the Web 2.0 was all in the zeitgeist of social network(ing)/s and Web 3.0 in semantics, the blockchain technologies could be the advent and the rise of the Web 4.0. Blockchain technologies, and more specifically, cryptocurrencies, present a disruptive and revolutionary technology, which will have major impacts on multiple aspects of our lives, impacting industries, organizations, and governments.
Cryptocurrencies are limited entries in consensus-decentralized databases secured by strong cryptography. One of the most popular, BitCoin is p2p, decentralized digital currency, with no central bank or authority. Instead, it relies on collaborating of independent computers sharing copies of a set of data. The concept of a digital currency is very appealing and real innovation on many levels: it is open source, decentralized, distributed, transparent system and peer-authenticated ledger. However, the digital assets exchanges services need to work on trust and feeling that is a safe technology. Many digital assets exchange platforms and wallet services need to earn users’ trust and gain reputation. In any of the transactions, and it won’t be easy in the current crypto craze ecosystem. While there is a massive potential for returns and transparency and decentralization, on the other side, there are potential mismanagement, increased volatility, the security issues, and the education as a big part before the average people use this technology, as well as continuous work the user experience.
Cryptocurrencies are relatively new and disruptive technologies in terms of social, economic and technological consequences. We can only anticipate the dynamics and consequences of the blockchain technologies in a variety of disciplines settings. They are still somehow geeky and not understood by most people; banks, governments and many companies need to be aware of its importance. There are potential applications for blockchains in the sharing economy, the financial services companies, big banks (currently experimenting by JP Morgan, the Bank of England, and the Depository Trust & Clearing Corporation (DTCC), stock trading; then, handling digital identity across social networks and online services, handling of voting (already experimenting by the open source project Sovereign using blockchains), governance, protection of intellectual property, Internet of Things (IoT) technology, in reducing the economic and social inequalities and gaps.
What it needs to be seen in regards to digital media and blockchain is to explore the socio-economic and technological aspects and consequences of decentralized technologies. We are really only just starting to explore the true potential impact of this kind of technology.
To be continued.
I just returned from the winter holidays that I used to practice some time offline, the so called digital sabbatical. Around this time of the year, and a couple of times during the year in general, I take a time off social media and email, to reset myself and prepare for the next phase for work and interaction online. I do keep my phone for calls and texts, though internet interaction is on hold during this time. Why do I practice this?
We live in times where our attention is being hacked. Our brains are being fragmented and distracted. And we are not paying enough attention to what is literally in front of us, often because of this and we need to detox from all kinds of things, including the digital one.
I am so excited – the conceptual artist and illustrator from Belgium, Nima Nilian, approached to me the other day and showed me the illustration/cartoon he made of me geeking out/working on my computer, and asked for permission to publish it online. I can’t get over how multi-talented this artist is and how honored I am. This illustration is so cute, be sure to check out all his work at Artstation.
An article I wrote few months ago (and was that prompt not to share it here) is about the current activities and projects at the Basic Internet Foundation I wrote earlier. We’re working on providing free access to Global Health Information in Tanzania, and education information in DR of Congo. It is published on Global Voices Community blog, where you can read it, and is currently available in English, Portuguese, and Spanish.
I decided to start with quick read series of stories, some observations and reflections on life, work cycle, progress, people, human nature, social web paradigm, etc.
Few weeks ago I bought a flower, a hyacinth from the local flower shop (for some reason I kept writing on Instagram – tulip, it’s not tulip it’s hyacinth). It was baby hyacinth in a pot, I placed it on my working desk, where I could observe and enjoy its growth. I watered it every day as the lady in the flower shop suggested. The first four, five days nothing happened. Nothing. I watered it, took pictures to capture any progress and then I’d post those photos on the Instagram. No progress whatsoever, I almost quit on it. On the sixth day, I noticed that some of the buds started to move. Just to move, not open yet. And then a week later, I woke up early and saw that 1/3 of the buds were moving, they started to turn into beautiful pink petals.
Do you see here (L photo) some buds started to move?
In 6/7 days, the hyacinth fully blossomed (R photo) spreading its intoxicating perfume I love in the spring.
I’ve been thinking about this and came up with two morals of the story. The first moral is that all good