This is how you are supposed to use blockchains and smart contracts

(EDIT, 17/3/15 – and also tl;dr: our distributed does-what-YouTube-does-but-we-can’t-call-it-YouTube is done. Head over to the repo to play around.) Everything you think you know about blockchains is dead wrong: Blockchains aren’t printing presses for money. They’re distributed authentication databases. Smart contracts have nothing to do with the law. They are, as Casey says, scripts – which allow for the cryptographically verifiable execution of code in respect of cryptographically verifiable data.  They do distributed data management on certain terms without servers and with a minimum of administrative oversight.  Writing a blockchain application isn’t as easy as rolling a cryptocurrency (which takes ten minutes). Blockchain…

Eris Industries features in The New Republic

And I’m quoted in the article, entitled After the Bitcoin Gold Rush: Eris Industries, an Ethereum-based project to enable radically decentralized decision-making (named after the Greek goddess of chaos), has pivoted to building internal networks for banks… For the most part, though, big business is catching up to Bitcoin’s Edens and remaking them in its image… “You have to be practical about what you’re doing and not idealistic, because the idealistic doesn’t get implemented,” says Preston Byrne, a founder of Eris. 1) Re: Banks: the writer confused the use-case with the tech. We build a FLOSS database and developer platform that banks can…

For Bitcoin to get mass adoption in Underbanked, it has to be more like M-Pesa

Originally posted on Daily Fintech:
The meme that mass adoption for Bitcoin will happen first in the developing world is spreading fast. I don’t buy it. These stories are written by people in the West who are Bitcoin enthusiasts and who are depressed by the lack of mass adoption in the West. So, they grasp at the straw that Bitcoin will be adopted somewhere else that they do not really understand. The grass is not always greener on the other side. I think that Bitcoin will find mass adoption in the West quite soon, but that is another story. The…