Crypto 101 with Mike Wise from the Boston Blockchain Association
On Thusday, October 28th, Mike Wise, Boston Blockchain Association’s Head of Partnerships, presented an intro to blockchain and cryptocurrency. This event, hosted by DSP & NEU Blockchain, aims to provide exposure to Crypto for all students on campus.
Important Links:
Slide Deck:https://drive.google.com/file/d/1xnSOn5nr8sZ-RljqfI-ajPtZVqVJtx72/view?usp=sharing
Connect with Mike: https://www.linkedin.com/in/mikewise07/
Join the Boston Blockchain Association: https://www.meetup.com/Boston-Blockchain-Association/
Register for next weeks events here: https://linktr.ee/NEUBlockchain
Event Recording:
Event Recap
Blockchain Consortia: companies with a similar vision that come together:
- finserve, insurance, healthcare
Global blockchain consortia:
- pharma, general, supply chain, public accounting
Distributed Ledger Technologies Impacts & benefits:
- immutable and trustworthy
- transparent, useful to multiple parties
- secure, cryptography is un-hackable
- censorship-resistant to a biased central authority
- easily audited for reporting
- speed through process
- Ex. Boston Deloitte office has 1,000 employees just going over companies’ books
- easily inspected for compliance
Blockchain is often — Better, faster, cheaper — to run
History of Technology — trends are growing much rapidly: 1850’s: industrial revolution, 1950’s: age of computing, 1980’s: The internet — Web 1.0, 2000’s; social local mobile era — Web 2.0, Now: Web 3.0
- 2009: cryptography blockchain
- 2011: web-based connectivity
- 2014: IoT, Artificial intelligence, machine learning, 5G
- 2020’s: Web 3.0
What is blockchain?
- Elements of a block of data
a. You need to have a verifiable source of info
b. Hash = takes the blocks of data, encrypts them into the random stream of characters
c. Chain = hash of the previous block → immutability - Covering the “last mile” → where do you get the data?
- Distributed, nodes, and consensus network
a. Distributed & decentralized - Tokenization: https://www.youtube.com/watch?v=nGXxHAj_IL8
Security Token
b. Secure (smart contract)
c. Trade-able (liquidity)
d. Affordable shares (supply and demand)
e. Convenient/efficient/fast (digital swap)
Utility Token
a. Constrained to their environment
b. The fuel that runs the network
Currently in Blockchain 3.0
In the future: Blockchain 6.0 — post quantum computing resilience
One example of blockchain application — in pharma
- Information of medicine and drugs stored on the blockchain to combat counterfeit drug problem currently in the market
Written by Bennett Thompson and Alyson Liu
