Blockchain explanation, applications, and possibilities…

Omid Malekan, author of “The Story of the Blockchain: A Beginner’s Guide to the Technology Nobody Understands“, blogger, and Explainer-in-Chief at Triple Smoke Stack (a publishing, consulting and educational firm that specializes in bringing the latest advancements in blockchain technology to traditional companies) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.

In this episode:

• Malekan on Blockchain – technology that gives digital items physical properties
• Physical things can only exist in one place at one moment in time
• Because of crypto tokens big public blockchains epxploded in value
• More and more industries are looking at blockchain, including real estate
• There are many applications beyond crypto currency
• Before the Internet, restrictions of physical existence worked but blockchain reduces friction or restrictions
• Digital items are replicable
• Music is a great example of an application of blockchain that can be of value
• Blockchain exists on a spectrum, with varying degrees of how to apply it, and is by nature often decentralized
• A process to keep you honest
• A consensus mechanism
• Bitcoin is slow (only a few transaction per second)
• Losing a key/passowrd to access, the value is lost
• Real Estate doesn’t change hands without people knowing about it, likely a blockchain run by government for property in the future
• Using blcokchain to potentially democratize ownership and mortgages
• How REITs were like an early tokenization, good step in that direction
• While REITS are cumbersome and expensive, can take the REIT model and issue tokensi instead, a tradeable avatar
• A lot of creativity possible
• Like a co-op model, real estate distilled down to shares
• A home is an indivisible asset, tokenization can enable that, financing aspect – you go to one bank, one loan, future can offer breaking debt into pieces each with other people
• Fractional ownership, fractional debt
• Nomadic lifestyles enabled by fractional ownership shares in properties to live in places not regular residence, like a timeshare
• Creatively applied can improve on good parts, lose bad parts
• Airbnb a perfect example of Web 2.0 kind of business, someone builds platform, people use it, and most of value goes to owner of platform.
• Whether a value of Blockchain can be to mediate disputes
• How you can determine cryptocoin has value despite being digital
• Becoming The Explainer in Chief
• Model United Nations, learning to debate, valuable life lessons that it was a popularity contest, not all about substance, from moment you walk into the room relationships
• Artifical Intelligence replacing jobs

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