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Understand DAO’s (Decentralized Autonomous Organizations) of Blockchain A decentralized autonomous organization, also called a decentralized autonomous corporation sometimes, is the entity that is operated by means of rules encoded as computer programs termed as smart contracts.
Here are fifteen reasons why the future of money is changing due to the technological innovations of Bitcoin.
While Bitcoin has received the lion’s share of attention since its conception, recently the Blockchain — the distributed public database used to record Bitcoin transactions — has just begun entering the spotlight for enabling some important capabilities outside of Bitcoin.
Possibly the biggest opportunity from taking an open approach to innovation is in the area of the blockchain, the protocol that underpins the distributed architecture of the bitcoin cryptocurrency.
Blockchain technology is significant because it can validate the authenticity of an individual bitcoin without the need for a third-party guarantor such as a bank or government body. This solves a vexing collective-action problem in an open network context: How do you know that a given bitcoin is not a counterfeit? Or to extend this idea: How do you know that a given document, certificate or dataset — or a vote or “digital identity” asserted by an individual — is the “real thing” and not a forgery?
Banks are moving to the bottom of the value chain.
Kim Dotcom Aims to “Give Bitcoin a Boost”
In 2010, when WikiLeaks was considering using Bitcoin as a means to get around the US banking blockade which had seen its Paypal account frozen and its other avenues of funding blockaded as well, the group began considering Bitcoin as a way to keep funding flowing.
Get ready for companies that run themselves. But will the autonomous economy set us all free, or just make the rich richer? By David Z. Morris