Mar 20, 2015
Can Ethereum help eliminate corruption and bureaucracy in the developing world? Could Ethereum One Day Transform Law, Finance, and Civil Society?
Posted by Rob Chamberlain in categories: big data, business, complex systems, computing, disruptive technology, economics, futurism, governance, human trajectories, information science
Quoted: “Ethereum’s developers believe their project will lead to the proliferation of programs they call “smart contracts,” in which the terms of an agreement are written in code and enforced by software. These smart contracts could carry out the instructions of a complex algorithm based on data feed—such as a stock ticker. They could facilitate practically any financial transaction, such as holding money in escrow or dispersing micropayments among autonomous machines. They could be used to create a peer-to-peer gambling network, a peer-to-peer stock trading platform, a peer-to-peer social network, a prenuptial agreement, a will, a standard agreement to split a dinner check, or a public registry for keeping track of who owns what land in a city.
Gupta predicts that these smart contracts will be so cheap and versatile that they’ll do “a lot of things that today we do informally,” and take on a lot of the “donkey work of running a society.””
Read the article here > http://reason.com/blog/2015/03/19/here-comes-ethereum-an-information-techn
Quoted: “Once you really solve a problem like direct brain-computer interface … when brains and computers can interact directly, to take just one example, that’s it, that’s the end of history, that’s the end of biology as we know it. Nobody has a clue what will happen once you solve this. If life can basically break out of the organic realm into the vastness of the inorganic realm, you cannot even begin to imagine what the consequences will be, because your imagination at present is organic. So if there is a point of Singularity, as it’s often referred to, by definition, we have no way of even starting to imagine what’s happening beyond that.”
Quoted: “Looking at the misinformation, speculation, and confusion about bitcoin and blockchain technology: it’s the same conversation we had 
Quoted: “We’re not there yet, but in less than 10 years, I believe that the technology behind bitcoin will transform the accounting profession entirely. What is this technology? The blockchain. Let me set the scene by going over a few bitcoin related concepts before explaining why I think that the accounting profession will undergo a major disruption in the coming years.”
Quoted: “IBM has unveiled its proof of concept for ADEPT, a system developed in partnership with Samsung that uses elements of bitcoin’s underlying design to build a distributed network of devices – a decentralized Internet of Things. The ADEPT concept, or Autonomous Decentralized Peer-to-Peer Telemetry, taps blockchains to provide the backbone of the system, utilizing a mix of proof-of-work and proof-of-stake to secure transactions.”
