- The Resolution of the Bitcoin Experiment — If you had never heard about Bitcoin before, would you care about a payments network that: Couldn’t move your existing money; Had wildly unpredictable fees that were high and rising fast; Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it); Is suffering large backlogs and flaky payments; … which is controlled by China; … and in which the companies and people building it were in open civil war?
- Malware Analysis Repository — the materials as developed and used by RPISEC to teach Malware Analysis at Rensselaer Polytechnic Institute in Fall 2015.
- How Websites Screw Up Experiences (Troy Hunt) — they’re mostly signs of a to-the-death business model.
- Dronecode Moves Forward — Linux Foundation’s Dronecode project has 51 members, is used commercially, and has technical working groups looking at camera and gimbal controls; airspace management; and hardware/software interfaces.
The O'Reilly Radar Podcast: Steve Omohundro on AI, cryptocurrencies, and ensuring a safe future for humanity.
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I met up with Possibility Research president Steve Omohundro at our Bitcoin & the Blockchain Radar Summit to talk about an interesting intersection: artificial intelligence (AI) and blockchain/cryptocurrency technologies. This Radar Podcast episode features our discussion about the role cryptocurrency and blockchain technologies will play in the future of AI, Omohundro’s Self Aware Systems project that aims to ensure intelligent technologies are beneficial for humanity, and his work on the Pebble cryptocurrency.
Synthesizing AI and crypto-technologies
Bitcoin piqued Omohundro’s interest from the very start, but his excitement built as he started realizing the disruptive potential of the technology beyond currency — especially the potential for smart contracts. He began seeing ways the technology will intersect with artificial intelligence, the area of focus for much of his work:
I’m very excited about what’s happening with the cryptocurrencies, particularly Ethereum. I would say Ethereum is the most advanced of the smart contracting ideas, and there’s just a flurry of insights, and people are coming up every week with, ‘Oh we could use it to do this.’ We could have totally autonomous corporations running on the blockchain that copy what Uber does, but much more cheaply. It’s like, ‘Whoa what would that do?’
I think we’re in a period of exploration and excitement in that field, and it’s going to merge with the AI systems because programs running on the blockchain have to connect to the real world. You need to have sensors and actuators that are intelligent, have knowledge about the world, in order to integrate them with the smart contracts on the blockchain. I see a synthesis of AI and cryptocurrencies and crypto-technologies and smart contracts. I see them all coming together in the next couple of years.
Widespread blockchain adoption requires understanding between developers and domain experts.
Editor’s note: this post is part of our investigation into the future of money. The full video compilation from our first event, Bitcoin & the Blockchain, is now available.
The vision for bitcoin and the blockchain is unabashedly optimistic, though already it is being realized. More and more technologists, venture capitalists, financial institutions, and even regulators are seeing its long-term potential to transform industries, from financial services to data management to the Internet of Things. In the medium term, there remain hurdles to overcome before blockchain technology can offer sufficiently compelling solutions for the complex financial and technological world we live in, but there is progress to date — and it’s promising.
Blockchain-based remittance vehicles offered by Coins.ph, BitPagos, and BitPesa, though early stage, aim to take a chunk of the $450 billion remittance industry by offering speedier, more efficient, and cheaper alternatives to traditional solutions. BitPay offers bitcoin/fiat payment processing for merchants as well as bank integration. Increasingly, private investors are diversifying their portfolios by purchasing bitcoin alongside traditional assets. Most recently, Coinbase even received funding from a group of blue-chip investors, including the New York Stock Exchange, and launched its own exchange, signaling both greater acceptance by the financial services industry as well as confidence in its future value. Ripple Labs has taken a very different approach with its protocol, permitting the decentralized transmission of practically any currency type — cryptographic or fiat — like an SMTP for money, and circumventing traditional payment networks. And to this end, it’s already inked agreements with Cross River Bank (New Jersey), CBW Bank (Kansas), and Fidor Bank (Germany), with more on the horizon. Read more…
The O'Reilly Radar Podcast: Vitalik Buterin on bitcoin, the blockchain, Ethereum, and the future of money.
In this Radar Podcast, I chat with Vitalik Buterin, founder of Ethereum and co-founder of Bitcoin Magazine. We met at our Bitcoin & the Blockchain summit in San Francisco to talk about the disruptive potential of the bitcoin and blockchain technologies. He also outlined some of the problems he’s trying to solve with Ethereum and weighed in on how the use cases of money are going to change over the next 10 to 20 years.
Buterin told me that his father initially introduced him to bitcoin in 2011, and he wasn’t immediately interested — in fact, he outright rejected it, thinking, “It looks like it has no intrinsic value, and it’s obviously not going to work.” As he kept hearing about, he decided to investigate more and came to the realization that ultimately led him to create the Ethereum platform:
I immediately recognized that the way bitcoin works is the way that money should work. It’s exactly the correct approach, where you have: here’s the address you’re supposed to send to, here’s how much you want to send, here’s the button to send it. It’s money made for the Internet, not like the credit card approach, where you just basically give everyone the details to take as much as they want from your bank account.
On a trip to Israel, Buterin encountered projects, such as Colored Coins and Mastercoin, using blockchain technology for things other than bitcoin currency. “They were trying to let people issue their own assets,” he said. “They were trying tack features on top, tack financial contracts on top.” The protocols, Buterin noted, were overly complicated and he realized there might be a better way: “You could make it much simpler just by replacing everything with a programming language, and then if you do that, then people can write as many features as they want in the programming language after the fact.”