Wangari, Our very own Rosemary is an expert in the area of digital currency practice and policy. Thank you proposing this discussion for this year's IGF, it is noted for consideration by the community. Regards, 2016-05-16 17:12 GMT+03:00 Wangari Kabiru via kictanet < kictanet@lists.kictanet.or.ke>:
Happy Monday!
Pray you are well.
Today I have learnt on Blockchains and I am delighted to share of. Learnt from Ashis Gadnis - BANQUAPP.COM and Ric Shreves.
Any persons in this community in the field?
The last time this discussion was here it was CBK and Bitcoin rundowns and the Ministry. Globally a lot is happening.
The discussion is beyond financial services into data management, humanitarian data and refugee transfers services...and more.
This community needs to have sharp deliberations on this at this year's IGF.
<<< start notes>>>
BTC4D @ ICT4D on 16/05/2016
'The blockchain is the new black..'
First overlay is the web Second is blockchain - trust layer Challenge old ways, disrupt governance and centralised authority for enforcing transactions
What is; A block chain is a distributed ledger via peer-to-peer Chain of digital signatures Protocal for exchanging value over internet without an intermediary A technology that allows people to exchange trust over transactions - Bank of England
Critical elements in old times is trust.
A block chain is another type of database for recording transactions - one that is copied to all computers Blockchain can be more than digital currency eg Asset tokenisation - transaction metadata used for transactions
Structure; Data stored in structures called blocks.
Elements; Header, Content - validated list of assets
15M - No. of Bitcoins in circulation 20B - Maximum no.of Bitcoins (2140), algorithm - manage inflation (unlike Ksh, $) $56M - 24hour Turnover of Bitcoins $746 M - Ethirium, 2nd Digital Currency
Volatility of Bitcoin 1.24% 2013 + 2014 - 2015 +
Other Blockchains; Best known are public; Litecoin, BitShares, Dogecoin, Namecoin. Others are private
Types; unpermissioned, permissioned
Newer ones; Ethereum, Microsoft BaaS - Blockchain as a Service
Blockchain can be as a; Platform - build others on it Software
What is happening; R3 working with 40+ banks Visa working on an independent proof of concept Citi has 3 blockchains and own digital currency (Citicoin) SEC, USA Stock Exchange
The players you should know? R3 Hyperledger Ethereum - an app platform Microsoft Azure BaaS - flexible Ripple Bitcoin is what is well known
<<< end notes>>>
Be blessed.
Regards/Wangari
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