Author: mha

In my last post I wrote something about crypto currencies and blockchain, but only hinted at what blockchains can be used for and what the fundamental innovations of blockchain technology are. For me, it’s the fact that the double-spend problem is finally solved – transparently and without having to trust a central authority.

But what does that mean in detail? The easiest way to explain double spending is as follows: If you buy a book in the real analogue world [1], you pay for a book once and get a book once [2]. And only you own the book physically. If your neighbours want to read it too because you raved on about how great the book is… Well, then you have to “lend” it, i.e. give it away – then your neighbour will have it. Thus there’s only one “instance” of the book, unless you copy it yourself and then distribute it (but let’s forget that now before we do overdo it 😊).

Continue reading “Take one, pay one, make two from that? No way…”

Wow, 2018 was an eventful year. On the last day of the year I saw the news from OceanCleanup, a great project that first had to fight huge resistance and is now experiencing a setback. But actually this article is about Bitcoin and Blockchain. By the end of 2017, Bitcoin and many other crypto currencies had reached heights that made many dream (and some are converting all their belongings into cash (1) to invest in Bitcoin and benefit from the hype). You could also say: greed had gripped people and in 2018 the situation returned to normal. But what comes next?

Continue reading “Are we failing or learning?”