Category: Blockchain
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Chasing ICOs (away?)
Recent events seem to suggest the cryptocurrency bubble is finally starting to deflate. Bitcoin, Ethereum and most of their crypto cousins are significantly down while regulators in several countries are finally beginning to take action on the ground. Nobel laureate economists are also speaking up against the digital currency, arguing that the new currency cannot fulfill…
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An Overview of Blockchain Technology and Digital Identity
Like previous digital technologies, such as the Internet, blockchain technology (BCT) has been driven by a high degree of techno-optimism not yet backed by on the ground impact or reliable evidence. Undoubtedly, the technology, which is still in its infancy, has enormous potential in many sectors and could promote human development if harnessed strategically. One…
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Cryptocurrencies and Development
While not the only cryptocurrency around, Bitcoin was the first to solve the well-known double-spending problem that characterizes digital currencies. Tackling the issue demanded the creation of blockchain technology (BCT) combined with a brute force algorithm known as proof of work. Created in 2009, Bitcoin is now one of the largest (and most unstable) currencies…
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Identifying the Displaced
After remittances and land titles, refugees are perhaps one of the primary targets of blockchain technology (BCT) initiatives promoting development or social impact. Bitnation, Aid:Tech and the UN World Food Programme, among many others, are good examples. Last month, at a BCT meeting in New York, UN Women shared its plans to launch a blockchain…
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Identifying the Unidentified
Identity access and management (IAM) is perhaps one of the areas where Blockchain Technology (BCT) could make a real difference. Research I am currently undertaken indicates that over one hundred BCT startups around the globe are focusing on this area. Add to this number the many other startups and organizations who have been engaged with…
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Blockchain Technology and Human Development
The blockchain tsunami has reached the shores of all seven continents in the world. It would be fair to say most Capitals have been flooded, slowly coming to terms with the new technology’s potential impact. Cryptography, hashing, Merkle trees, peer-to-peer networks, distributed trust and governance, proof of work and stake algorithms, and smart contracts are…
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Blockchain ICOs Revisited
A couple of weeks ago, Coindesk launched an ICO tracker which seems quite comprehensive and includes data starting in 2014. It has information on 164 ICOs1 I downloaded the data on 18 August but was unable to replicate some of the charts Coindesk has on its web site. The data I downloaded ends on 27…
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ICOs: Crowding-in Blockchains?
Nowadays, ICOs (or Initial Coin Offerings) are all the rage. Unlike traditional IPOs, ICOs allow startups to streamline the capital-raising process while at the same time enhancing the number of potential investors. While venture capital is still part of the equation, other non-traditional investors and stakeholders are more than welcome to join. How is this…
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Cryptocurrencies and WannaCry
I have been doing extensive research on Blockchain Technology (BCT), focusing on its potential impact in developing and emerging economies. I am particularly exploring BCT’s role in tackling the most vexing socio-economic gaps in these countries. One of my early findings suggests that BCT usability might prove to be a formidable challenge for the billions…
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Blockchain Mining: Competition and (de)Centralization
“One-CPU-one-vote.” 1 CPU stands for Central Processing Unit, nowadays also known as a microprocessor. From a governance perspective, this is perhaps one of the most interesting phrases included in the original Bitcoin paper penned by a still anonymous author. Could we then say the goal is to build a democracy of devices, a CPU-democracy where…
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Blockchain and the Future of Society
Alongside artificial intelligence and robotics, Blockchain technology is enjoying widespread popularity around the globe. The surrounding hype seems to increase by the minute. Pundits and supporters see a plethora of applications for the technology not limited just to the financial sector. But to the average person, Blockchain technology is mystifying, given its technical complexity. If you…
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A “social” history of Bitcoin?
A recent article by one of its lead developers argues that Bitcoin, defined as an experiment, has utterly failed. While the initial concept was to develop a form of digital money that was completely decentralized and autonomous from any bank or institution, today, Bitcoin is controlled by a few people. Besides, Bitcoin technology has now…